Do not quit your job to file bankruptcy. If you are spending pretty much everything you bring in, then you likely qualify for Chapter 7 bankruptcy.

Answer Applies to: Indiana
Replied: 12/14/2011

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There is a difference between general information and specific advice; you are asking for advice. Generally, most working people qualify for chapter 7. A debtor need not be flat broke and living on the street.

Answer Applies to: New Jersey
Replied: 12/13/2011

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Keep your job. The best time for a fresh start is while you are working. It sounds like the job you have is within the means test. You should be able to file a chapter 7.

Answer Applies to: Colorado
Replied: 12/7/2011

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You still can file for bankruptcy even if you have a job.

Answer Applies to: California
Replied: 12/7/2011

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You need to pass the means test and consider your disposable income. You should consider consulting a certified bankruptcy specialist.

Answer Applies to: South Carolina
Replied: 12/7/2011

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You do not need to quit your job to file bankruptcy. In fact, you would be well advised to not do so.

Answer Applies to: California
Replied: 12/6/2011

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Do not quit your job. Just because you are one of the lucky people who have a job, it does not mean you do not qualify for Bankruptcy. Before taking any action, please speak with an attorney to review your situation and give you solid legal advice as to what steps you should take. Bankruptcy is for people who are unemployed and for people who have jobs but cannot pay all of their bills with the income that they make.

Answer Applies to: New Hampshire
Replied: 12/6/2011

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NO! You can and should keep your job. Unless you make too much money to file a Chapter 7 then you can file a Chapter 13, but neither would require you to quit your job.

Answer Applies to: Utah
Replied: 12/6/2011

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Depending on how much you make, you can continue with your job and still qualify to file a Chapter 7 Bankruptcy. For instance, an individual in Las Vegas, Nevada can make $43,146.00 a year and still qualify for Chapter 7. This number goes up depending on how many dependents you have and how many secured loans you have (i.e., mortgages on homes and loans for cars). Most bankruptcy attorneys, including my office, provide some kind of a free consultation for potential bankruptcy clients. You should speak with a bankruptcy attorney to review your options. There is no reason to quit your job if you can qualify for a Chapter 7 Bankruptcy and keep your job.

Answer Applies to: Nevada
Replied: 12/6/2011

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Keep your job, having a job won't affect your bankruptcy filing. Unless your income is higher than the median family figure (40K for family of 1 in Florida), then you might need to file for chapter 13 instead of 7. You should consult with an attorney if you don't know how this works.

Answer Applies to: Florida
Replied: 12/6/2011

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No need to quit your job. You still have to support yourself.

Answer Applies to: Colorado
Replied: 12/6/2011

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You do not need to quit your job. Go see a lawyer and find out what, if any, assets would be of interest to the trustee.

Answer Applies to: California
Replied: 12/6/2011

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You can be employed and file for bankruptcy.

Answer Applies to: Ohio
Replied: 12/6/2011

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Having a job does not preclude you from filing a chapter 7 bankruptcy. There is a "means test" for chapter 7 that you have to pass however. What that means is that there is a limit on the amount of money you can make based on your household size. Once we get your income and household size we can determine if you qualify for chapter 7. No need to quit your job, just speak to a qualified attorney for more information on how to pass the means test.

Answer Applies to: Illinois
Replied: 12/6/2011

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Depends on how much you are making and what your expenses are.

Answer Applies to: Michigan
Replied: 12/6/2011

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Quitting your job will likely not benefit you in bankruptcy.

Answer Applies to: Ohio
Replied: 12/6/2011

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If you make less than $40,000 as a single person, then you generally qualify for chapter 7. Income limits in chapter 7 vary based on a number of factors that are too in depth to describe without speaking directly to an attorney to determine if you qualify.

Answer Applies to: Florida
Replied: 12/6/2011

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I don't recommend that you quit your job in order to file bankruptcy. If you job is not too high paying, you will be eligible for Chapter 7. If it is too high paying for Chapter 7, you could still file Chapter 13. If you want a more detailed explanation, please call me. There is no charge for a telephone consultation.

Answer Applies to: Minnesota
Replied: 12/6/2011

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You do not have to be unemployed to file for bankruptcy. At least half of the people who file are working but just can't pay the bills.

Answer Applies to: Texas
Replied: 12/6/2011

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No, if your job does not allow you to pay off your bills, then your income is probably low enough to file with the job. See an attorney, first visits are usually free.

Answer Applies to: Michigan
Replied: 12/6/2011

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You need to determine what chapter you qualify for (Chapter 7 or a Chapter 13) You can have a job and earn income and still file for Chapter 7 to discharge all of your debts without a repayment plan as long as you qualify with the "Means Test" (your income is below the median in the district where you live)

Answer Applies to: Michigan
Replied: 12/6/2011

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You do not need to quit your job to file for bankruptcy. If anything, it would complicate matters. If you make below the threshold income to qualify for a Chapter 7 filing and if the exemptions from the bankruptcy estate cover the assets you have, you may have your debts discharged without having to liquidate any assets at all. Your bankruptcy attorney can perform the means test to determine if a Chapter 7 is right for you, assess your assets and the available exemptions, and advise you on the likely outcome.

Answer Applies to: Massachusetts
Replied: 12/6/2011

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No, you are allowed to have a job when you file bankruptcy. If you are under the state median income for your location in NYS, then you are not scrutinized further. If you are above the state median income, then you have to file an additional "means test" when you file your bankruptcy and you still may qualify. But don't quit your job.

Answer Applies to: New York
Replied: 12/6/2011

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No. You should consult with an attorney. You are allowed to be employed and make a certain amount of money and still file a chapter 7 Bankruptcy.

Answer Applies to: Florida
Replied: 12/6/2011

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There is no reason to quit your job in order to file bankruptcy. You're allowed a certain level of income for ordinary living expenses even if you file bankruptcy to have your debts discharged.

Answer Applies to: New Hampshire
Replied: 12/6/2011

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You should consult with an attorney regarding your eligibility for a Chapter 7 bankruptcy. If your total household income is low enough you will qualify for a Chapter 7 bankruptcy. You do not have to liquidate all of your assets in bankruptcy. You are allowed exemptions, which are assets you get to keep that are under a certain value. Wisconsin has generous exemptions, so most people get to keep most of their assets in a Chapter 7. If you have substantial assets you want to keep, you can consider filing a Chapter 13 or 11, which allows you to pay back some of your debt so long as you have sufficient income and to keep assets that exceed the value of the exemptions.

Answer Applies to: Wisconsin
Replied: 12/6/2011

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Chapter 7 liquidation is available to any debtor that meets the requirements of the Bankruptcy Code including, in particular, making less than the *median income* in their State. Employed persons can, and do, file for protection under Chapter 7 every day. Depending on how much you make at work, you may already qualify for Chapter 7 relief. Consult an Attorney in your area to learn more.

Answer Applies to: Illinois
Replied: 12/6/2011

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Whether or not you quit your job is up to you. Having a job should not affect a bankruptcy filing as long as you still meet the means test. To determine if you do, you should speak to a qualified bankruptcy attorney about your income and budget and determine your best interests. Your income will be accounted for at least 6-months either way and you should consider that you may want your income after the bankruptcy is filed.

Answer Applies to: Utah
Replied: 12/6/2011

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You should absolutely NOT quit your job. It is perfectly acceptable to be employed while seeking protecting under any of Chapter of the Bankruptcy Code, including Chapter 7. In order to qualify for Chapter 7, however, your personal household income (from all sources) must be below the median income for a household of your size in your state. In Massachusetts the median income for an individual filer is currently about $53,400. Even if your actual gross income is somewhat higher than that you may qualify after fully calculating the means test.

Answer Applies to: Massachusetts
Replied: 12/6/2011

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No, there is no need for you to do that. Basically, the only criteria is going to be what is your net income, take-home, every month, and what are your monthly living expenses. If your expenses basically equal or eclipse your income, such that there is nothing left for the debt payments, you may file Chapter 7.

Answer Applies to: California
Replied: 12/5/2011

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No, you can have a job. If you make too much money you might have to file a Chapter 13 instead. If I knew what you were making, I could be more specific.

Answer Applies to: California
Replied: 12/5/2011

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It depends on how much money you make at your job. If you are high income, you may be disqualified from filing a chapter 7 case. If your income is at or below median income, you will almost always qualify for Chapter 7 bankruptcy.

Answer Applies to: Texas
Replied: 12/5/2011

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You are not required to quit your job to file a chapter 7 bankruptcy petition.

Answer Applies to: Florida
Replied: 12/5/2011

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Most people who file for bankrutpcy have jobs and most people keep all of their property. Bankruptcy is not for the homeless and destitute that actully don't need to file bankruptcy since they have nothing that can be taken from them. There are income limits for Chapter 7 cases and property limits that you can keep (exempted property). Those are very generous amounts. The goal of bankruptcy is to give you a fresh start and not to leave you totally broke.

Answer Applies to: California
Replied: 12/5/2011

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Not at all. Future income is not property of a bankruptcy estate. So you can file and discharge your debts and still maintain your job and income.

Answer Applies to: North Carolina
Replied: 12/5/2011

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You can be employed and file bankruptcy. The question is whether you income is too high to be ineligible to file for a Chapter 7, which is known as the "means test". The income level depends on the number of dependents you have and the state where you live. And the income is calculated on what was earned in the six months before you file, so if your income was too high, you would have to been unemployed for a long time.

Answer Applies to: California
Replied: 12/5/2011

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Many people who have jobs can qualify for a bankruptcy. Before you make any drastic life decisions, consult an experienced attorney who can guide you on the best financial decisions to make. Chances are that if you can't pay your bills with your current job, then you can qualify without quitting.

Answer Applies to: California
Replied: 12/5/2011

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You can still file for chapter 7 bankruptcy as long as you make below the median income for your family size in your state.

Answer Applies to: Washington
Replied: 12/5/2011

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Most people who file for bankruptcy relief are fully employed. Don't do anything to change your employment or otherwise until after you consult a properly qualified and experienced bankruptcy attorney.

Answer Applies to: California
Replied: 12/5/2011

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No, don't quit your job to file bankruptcy. If you can't afford to pay your debts while employed, then having a job and filing bankruptcy won't be an issue.

Answer Applies to: Colorado
Replied: 12/5/2011

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Why would you make that catastrophic mistake? That's like blowing up your home with explosives because you want to kill roaches, instead of buying bug spray. Whether or not you file bankruptcy, you need an income to live. Instead of coming up with ideas that bad, see a bankruptcy lawyer to see what will actually help you. (By the way quitting has NO benefit on filing, as your PAST income dictates your present ability to file, so I can't imagine where you got such a bad idea, except that I keep seeing it asked on this site).

Answer Applies to: Georgia
Replied: 12/5/2011

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