If your financial status changes while filing for bankruptcy, you are required to inform the bankruptcy court of the change. They will then consider this income in light of your debt and then determine if you still qualify for Chapter 7 Bankruptcy. If they believe your income disqualifies you for Chapter 7, they could decide to convert it to a Chapter 13 case and set up some repayment plan with your creditors.

Answer Applies to: New York
Replied: 10/27/2011

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If you already filed, then you can amend the bankruptcy filing. If you have not filed, then just change your income to use the cumulative average of the last 6 months of pay stubs and see if you still qualify for a chapter 7. You do not need to be destitute to file for bankruptcy.

Answer Applies to: New York
Replied: 10/26/2011

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You should file immediately so you don't disqualify yourself from filing under the means test.

Answer Applies to: Georgia
Replied: 10/25/2011

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If you have already filed a Chapter 7 case, you will not be able to cancel the filling. You could convert to Chapter 13. The U.S. Trustee might move to convert your case to one under Chapter 13 if your new income leaves you with significant money left over after paying your normal monthly expenses.

Answer Applies to: Massachusetts
Replied: 10/24/2011

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Filing bankruptcy requires a means test based on your income. The time period for income is the 6 months prior to filing. Being hired for a new position is generally irrelevant as a factor for chapter 7. Change of income might involve a modification or amendment of a chapter 13 plan.

Answer Applies to: California
Replied: 10/24/2011

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Just because you have a job does not necessarily mean that you cannot file for Chapter 7. The vast majority of persons filing for Chapter 7 are employed. As long as there is no substantial abuse per the means test, then you should be eligible for a Chapter 7 discharge. The means test looks at your household income for the past six months as it relates to the median income in your state. If you are below the median income, then there is no substantial abuse and you generally can receive a Chapter 7 discharge. If you are above the median income for your state, the means test looks further to determine if you can pay anything back to your creditors in a Chapter 13. You should consult an experienced Bankruptcy attorney to complete the means test for you and advise you if a Bankruptcy filing is appropriate at this time and if a Bankruptcy filing is appropriate, to advise you which Chapter of Bankruptcy will be best for you. There are of course, other considerations, including the value of your assets when considering whether or not to file for Bankruptcy.

Answer Applies to: Georgia
Replied: 10/24/2011

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A chapter 7 takes into consideration your income for the six months prior to the filing. Since you have not gotten paid yet, your new income would not likely be considered in your means test calculations.

Answer Applies to: Georgia
Replied: 10/24/2011

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If your new job were going to blow the lid off the Means Test number, then I wouldn't file. If the new job were still relatively close to the Means Test number, I would go ahead and file. This is not a simple yes or no type question, so I would encourage you to have an in depth conversation with your legal counsel. He knows a lot more about you and your case than I do.

Answer Applies to: Texas
Replied: 10/24/2011

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If your new job allows you extra income (discretionary income), you might have to switch to a Chaptr 13, it would depends on the amount of the increase and when it begins. You should really see a lawyer. Good luck!

Answer Applies to: Michigan
Replied: 10/24/2011

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I would need to know more about your income, the size of your household, and your dependants (if any). The increase in your income could possibly make you ineligible for chapter 7, but you should not assume anything until you have talked to a bankruptcy attorney.

Answer Applies to: Minnesota
Replied: 10/23/2011

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Eligibility for chapter 7 and the measure of commitment in chapter 13 are affected by past, present, and future income. An imminent increase in income directly impacts upon one's options; bear in mind: bankruptcy is designed to afford a fresh start to persons suffering hardship who do not have repayment ability or have limited repayment ability.

Answer Applies to: California
Replied: 10/22/2011

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You need someone experienced in doing Means Test analysis. Your increased income does not necessarily disqualify you from filing under Ch 7. Re paying your debts: If you have cash you can settle your debts for less than full amount. Stay away from so-called debt consolidation lawyers who will sign you up for a monthly payment. Most of your money will be eaten up by legal fees.

Answer Applies to: Colorado
Replied: 10/22/2011

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It really depends on your new income. Sometimes it is not a factor at all and you can continue in Chapter 7. Other times, you may have to file Chapter 13. The best thing to do is to contact your attorney to determine how the new job affects your eligibility for bankruptcy.

Answer Applies to: Colorado
Replied: 10/21/2011

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You can consider chapter 13. See a lawyer to munch the numbers.

Answer Applies to: California
Replied: 10/21/2011

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If you have already filed, you may change to a chapter 13 or withdraw your petition depending on your situation.

Answer Applies to: Minnesota
Replied: 10/21/2011

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You can't just "cancel" a 7. Your question tells me that you made a foolish choice and filed pro se. Bad move. See a lawyer before you you make more mistakes and determine if you need to do anything or not.

Answer Applies to: Georgia
Replied: 10/21/2011

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The ability to pay your debt is always relevant to filing bankruptcy and will always be determined according to your income.

Answer Applies to: Michigan
Replied: 10/21/2011

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Delay your filing until your employment is stabilized.

Answer Applies to: Texas
Replied: 10/21/2011

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No, you don't do not need to change chapters. You should stay put in your Chapter 7 Bankruptcy.

Answer Applies to: Ohio
Replied: 10/21/2011

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Talk to a bankruptcy attorney immediately. If you have not filed yet, and you are going to file a chapter 7, a new job may have an impact as to if you qualify for a chapter 7. For your means test, the courts look at your last 6 months of wages and income. A new job will affect the figures and will affect schedule I, so it may be in your best interest to file now rather than wait and have your new income prevent you from filing a chapter 7 in the next few months. However, even if you pass the means test, you still have to pass what's called the good faith test and if your current income is enough for you to have excess income after your monthly expenses, it may still prevent you from filing a chapter 7.

Answer Applies to: Georgia
Replied: 10/21/2011

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First, if you have an attorney, you will need to disclose this information immediately. Second, the answer is that it depends. There are two different places your income will come into play in a bankruptcy case. The first, is with the B-22 means test. This will take your previous 6 month average to determine your disposable income. In this test, the new job won't make much of a difference because your 6 month average will not be changed since you haven't been paid yet. Additionally, the 6 month average is taken from the 6 months prior to the current month. So your new job would not make a difference on the average until next month. However, on Schedule I and J of the bankruptcy petition, you must list your current income and expenses. Since you are now working, you will need to disclose the current income on Schedule I. If your disposable income on Schedule I and J is too high, then you will need to file a Chapter 13 bankruptcy and the disposable income will be paid to creditors.

Answer Applies to: California
Replied: 10/21/2011

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You don't have to switch. The Means Test looks at your income in the six full calendar months preceding your filing. If you filed in October, 2011, the period that would be looked at to see if your income level raises a presumption of abuse under the bankruptcy law is from April 1, 2011 to September 31, 2011. You could probably even work a month and still pass the means test unless you were close to the median household income while unemployed.

Answer Applies to: Minnesota
Replied: 10/21/2011

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No you can still file a chapter 7 now. You may want to hurry to file.

Answer Applies to: Florida
Replied: 10/21/2011

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You may still be able to file a chapter 7. Whether you qualify will depend on your gross household income, and your monthly expenses six months before filing and the type of debt you have. I would suggest speaking with an attorney and have him or her evaluate your particular situation.

Answer Applies to: Washington
Replied: 10/21/2011

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