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Can I file Chapter 7 bankruptcy? I have no assets or income

Submitted by RonDavis83 on Sun, 09/16/2018 - 20:45
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I live in a rented apartment. Currently unemployed. Have no valuable assets. Can I file Chapter 7 bankruptcy? I owe $50,000 to Chase.


The effect of your unemployment status on bankruptcy depends on the following factors:

The tenure of your unemployment
Your monthly income before unemployment
If you'll start working soon
If you have any other source of income

You have to report your income in the last 6 months to the bankruptcy court. If your monthly income was decent, you may not qualify for bankruptcy.

How are you paying your rents? Instead of thinking about bankruptcy, you should find a job and try to settle your debts.


Submitted by David Martin on Mon, 09/17/2018 - 21:02

David Martin

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