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Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

Is it a good move to resign from a job to qualify for Chapter 7 bankruptcy?

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Is it a good move to resign from a job to qualify for Chapter 7 bankruptcy? I would like to add that the job is not that much lucrative. it's a job with a hourly basis pay of about $12

You should probably not quit your job. Your hourly pay is much lower I guess and you should qualify for the means test. By the way which state are you from?

Sub: #1 posted on Thu, 08/23/2018 - 06:32

tiarajoseph11 tiarajoseph11

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Don't quit your job because it will increase the suspicion of the bankruptcy trustee. Don't forget that bankruptcy trustee takes means test seriously. He may even dismiss your Chapter 7 case and force you to file Chapter 13. In case of Chapter 13, you have to follow a repayment plan. You'll be in a big trouble without any income. Also, you may have to wait for another 6 months before filing bankruptcy after you leave your job.

Sub: #2 posted on Thu, 08/23/2018 - 20:53

David Martin David Martin

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Before filing bankruptcy, you can try out debt settlement. If required, you can take professional help to settle your debts and get rid of them by paying less than what you owe.
Opting for settlement can help you get rid of your debts fast. Your credit score will also get impacted relatively less as compared to bankruptcy.
So, have knowledge about the options, know the pros and cons, and then take your call.

Sub: #3 posted on Fri, 08/24/2018 - 00:48

Good Nelly Good Nelly
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In bankruptcy, you have to qualify in the means test. So, you have to earn money to get the approval in the test. If you don't want to do this job, then find out one good job as soon as possible.
By the way, you can consider debt settlement for your debt trouble? What is the total debt amount?

Sub: #4 posted on Fri, 08/24/2018 - 04:39

sanderspatricia29 sanderspatricia29

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