Would I qualify for chapter 7 since I do make a decent wage?
Date: Wed, 10/27/2004 - 13:25
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?
Re:
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
negative
i am in the same boat.. just with smaller numbers :lol: bankruptcy is not the way to go .. consolidate if you can with this company they will save you money. also Pres. Bush is making it even harder to claim , besides it will hurt your credit indefinitley, never mind you can begin to pay your bills with the money you would give to a lawyer.....am i wrong?..