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Would I qualify for chapter 7 since I do make a decent wage?  

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I am currently going through a Chapter 7 bankruptcy proceeding. The lawyer added up my monthly income grossing $4600.00 before deductions and netting approx. $2900.00. My expenses added up to approx. $3200.00 per month. Therefore, my discretionary income is a negative $300.00 per month. Would I qualify for the chapter 7 or would the trustee force me to convert to a Chaptor 13 since I do make a decent wage?
 

asked Oct 27, 2004 01:25 PM

Anonymous
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2
best answer

Hi gmolina89,

Welcome to debt consolidation care forums,



Quote:

I am currently going through a Chapter 7 bankruptcy proceeding. The lawyer added up my monthly income grossing $4600.00 before deductions and netting approx. $2900.00. My expenses added up to approx. $3200.00 per month. Therefore, my discretionary income is a negative $300.00 per month. Would I qualify for the chaptor 7 or would the trustee force me to convert to a Chaptor 13 since I do make a decent wage?


Since you have substantial amount of monthly income there is a fair chance that your bankruptcy will be converted to a chapter 13 bankruptcy.You may want to read these two articles:

1) Chapter 7 Bankruptcy
2) Chapter 13 Bankruptcy

Thank You
Debt Consolidation Care Team

answered Oct 29, 2004 03:21 AM

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