Can a student file for Ch7 or Ch13 BK?

[S2008]

I'm a part-time graduate student. My current job/pay places me way above the median income for my family size in my state (CA).

If I quit my job and go full-time for my graduate studies, which may take another year or two to complete my degree, can I file for ch7 BK during my time as a student? I think I would qualify for ch7 then. Is this (planning for the best BK outcome) legal?

Thanks!

[Cali]

Hi,

I am in CA too. How far over are you?

[S2008]

150K/yr family of 5

[biggomez777]

Probably, yea, but being that much over, would you be able to afford your life as a full time student w/5 kids? (Not sure how much of a pay cut would be involved here)

[magyar123]

Don't quit your job, just move and live by yourself. This will eliminate the total household income issue unless your pay is over the median income level in your state. You will have your own expenses.