Stability of a debtor's employment or profession is not in itself a determining factor as to the eligibility of filing a bankruptcy petition. If your income is lower than the median income for a family of your size and your budget does not show disposable income, you may be eligible to file a Ch. 7 petition. Even if a debtor has a high income they can consider filing a Ch. 13 petition wherein some or all of the debt are paid from 3 to 5 years.

Answer Applies to: Florida
Replied: 8/23/2011

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Yes, your position wouldn't disqualify you. The look back period for your income will be 6 months from filing.

Answer Applies to: Washington
Replied: 8/22/2011

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Bankruptcy is available to those who are struggling to pay liabilities with current income.

Answer Applies to: Indiana
Replied: 8/19/2011

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Yes. Most people who file for bankruptcy have steady jobs.

Answer Applies to: California
Replied: 8/19/2011

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Yes, provided you meet certain criteria. You must not have filed a Chapter 7 in the last eight years. You must meet the Means Test to file 7; if your income is too high you will have to file a Chapter 13, but you have a right to seek relief in bankruptcy.

Answer Applies to: Colorado
Replied: 8/19/2011

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Depends on income. Professions rarely matter, although some frown upon a bankruptcy (such as an attorney) or other public official.

Answer Applies to: North Carolina
Replied: 8/19/2011

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Actually, having a stable job is a good thing. You are eligible to file a bankruptcy case. Depending on your income, you may be able to file either a chapter 7 or a chapter 13. If you are barely able to afford rent, you might be receiving a steady income which is nevertheless small enough that you are eligible to file a chapter 7 case.

Answer Applies to: Illinois
Replied: 8/19/2011

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Whether or not you can file for Chapter 7 bankruptcy depends on whether your debts are mostly consumer debts (which applies to most people) and whether your householdincome exceeds the median for your family size in the place you live. If you have primarily consumer debts, then your income must be below the median level for you to file a Chapter 7 bankruptcy case. Your best bet is to consult with an experienced bankruptcy attorney.

Answer Applies to: Colorado
Replied: 8/18/2011

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Usually yes. Eligibility is based on income and household size. If your household income is below the median for your family size you usually qualify for Chapter 7.

Answer Applies to: Utah
Replied: 8/18/2011

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Very likely you will be able to file a Ch 7 as long as your income is under state median income.

Answer Applies to: Mississippi
Replied: 8/18/2011

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You betcha. We love teachers for clients. They are well organized, keep records and make good clients. I get more than a few. Keep in mind that you must be "poor enough" to file a "straight" Chapter 7 Bankruptcy. That depends on your income, location and dependents. There is no income limitation on Chater 13 petitioners at all. A Chapter 13 is a 3 to 5 year payment plan at 0% interest. You do NOT have to pay back 100% of your debts. The payments are almost always cheaper than the credit cards are demanding and you are out of debt in 3 -5 years. Good luck.

Answer Applies to: Ohio
Replied: 8/18/2011

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Yes, employed people file bankruptcies all the time.

Answer Applies to: California
Replied: 8/18/2011

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Having a stable job and income does not disqualify you from filing bankruptcy in any way. However, you will want to show a bankruptcy attorney your last 6 or 7 months paystubs, so he or she can input those numbers into the Means Test. If you make over a certain amount of money, there is a chance that you'll be pushed into a Chapter 13 rather than a Chapter 7.I have many school teachers and clients, and I also have many clients who were sure they made to much money to file bankruptcy. So, you can rest assured that you can almost certainly file bankruptcy. I'd recommend you meet with at least one attorney, if not two or three, and discuss your possible case, and if bankruptcy is right for you. Many bankruptcy attorneys offer a free consultation. Best of luck to you!

Answer Applies to: Oregon
Replied: 8/18/2011

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Yes. The primary requirement is that you can't afford to pay your bills.

Answer Applies to: Virginia
Replied: 8/18/2011

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Having a job does not stop you from filing a bankruptcy. Income comes into play either to determine of you have sufficient income to make payments under a Chapter 13, or in a Chapter 7 whether you make too much income to be able to file a Chapter 7. Whether the income is too high or low enough qualify for a Chapter 7 generally depends on the family income, the number of members of the family and how much secured debt you have.

Answer Applies to: California
Replied: 8/18/2011

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A majority of my bankruptcy clients work. So it is certainly possible that you may qualify to file. How much you make now, have made in the past and what your expenses are all help determine whether you can file and what chapter you can file. This is where a lawyer's expertise is invaluable, as you may have multiple options.

Answer Applies to: Georgia
Replied: 8/18/2011

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Yes, you can file for bankruptcy. You may be required to file a Chapter 13 where you make a monthly payment to a trustee for a period of time rather than filing a Chapter 7 if you have too much disposable income. I recommend having an attorney do the analysis for you based upon your specific facts.

Answer Applies to: Nevada
Replied: 8/18/2011

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If you are employed you are eligible to file either a chapter 7 of chapter 13 bankruptcy. Consult with an attorney to discuss which is better for your situation.

Answer Applies to: California
Replied: 8/18/2011

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Often the best time to file a chapter 7 bankruptcy is when you have a stable job. If your income is under the means test and your bills are too much to handle it could be a smart move. This way you will have the fresh start that the law is meant to provide to you.

Answer Applies to: Colorado
Replied: 8/18/2011

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You may be eligible to file for bankruptcy if your income and/or expenses qualify you for doing so. You don't have to be unemployed to qualify for bankruptcy.

Answer Applies to: California
Replied: 8/18/2011

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There are no professions not eligible for bankrutpcy. Even federal judges and senators have filed for bankrutpcy. Most people who file for bankrutpcy have a stable job. It is not a matter of having a job but rather how much is being earned considering dependents, expenses and many other factors. Chapter 13 does require income which could be from any reliable source.

Answer Applies to: California
Replied: 8/18/2011

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You need an attorney to run a means test for you. After running the test, the attorney can tell you whether or not you qualify for bankruptcy.

Answer Applies to: California
Replied: 8/18/2011

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You can file for bankruptcy if you are employed. For anyone to qualify for Chapter 7, they will have to pass a means test to determine if their income level falls in the range of income allowed over the past six months. If your income is too high then you will not qualify for Chapter 7.

Answer Applies to: California
Replied: 8/18/2011

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Yes, you are eligible to file either a Chapter 7, Chapter 13, or Chapter 11 case. Most likely, you will want to file a Chapter 7 or Chapter 13 case. A Chapter 7 case is a straight liquidation case; however, few people lose any property when they file for relief under Chapter 7. A Chapter 7 case lasts approximately 4 months. You pay your attorney fees and costs up front and usually go to court one time. A Chapter 13 case requires less money up front but lasts a minimum of 36 months and may go as long as 60 months. In a Chapter 13 case you repay some portion of the debt that you owe. You keep all of your property in a Chapter 13 case. Thus, if you have a car or home with a great deal of equity you can retain those items through a Chapter 13 while paying your creditors the value of your equity over time.

Answer Applies to: Alabama
Replied: 8/18/2011

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The vast majority of people filing bankruptcy have jobs - even school teachers.

Answer Applies to: Michigan
Replied: 8/18/2011

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Being a school teacher does not legally disqualify you from filing bankruptcy. You should seek the advice of a bankruptcy attorney, however.

Answer Applies to: Illinois
Replied: 8/18/2011

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Bankruptcy eligibility is based on income and family size regardless of your profession. If you are having difficulty paying your rent, then bankruptcy should be considered as a solution.

Answer Applies to: Colorado
Replied: 8/18/2011

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Absolutely. The issue isn't whether or not you have a stable job, its whether you are able to pay your debts as they become due. As you mention, you're having trouble with rent, let alone everything else. If you're working for the public schools, with the cutbacks and furloughs etc., we are seeing lots of school teachers having to file. Feel free to contact me if you have other questions, I'll be happy to help.

Answer Applies to: California
Replied: 8/18/2011

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In a general sense, eligibility for filing bankruptcy is not based on one's profession. Eligibility for a Chapter 7 filing is based primarily on the debtor's income.

Answer Applies to: Oregon
Replied: 8/18/2011

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Anybody with assets and debts in the US is eligible for bankruptcy. Although how much income you have will affect which chapter of bankruptcy you qualify. If your income is below the median household income of your state, then you qualify automatically for Chapter 7 (in FL for a family of 1, the median is $42K). If your income is higher, then you have to figure out what your disposable income is. Disposable income is defined by the average income of your last 6 months minus all the allowed expenses. You can look up the parameter of these expenses in the IRS's website. Whatever left over is your disposable income. If your disposable income is below $120, then you qualify. If it's over $190, then you don't qualify and your only option is Chapter 13. If it's in between, then multiple that # by 60. If the result is over 25% of your unsecured debt, then you do not qualify for Chapter 7 and you have to file for 13.

Answer Applies to: Florida
Replied: 8/18/2011

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Yes, there is no reason why you would not be eligible. Many professionals have filed for bankruptcy. The issue will be which bankruptcy is best for you. Depending on your income you may not qualify for a Chapter 7 and you may have to file a Chapter 13. Bankruptcy is an important issue and you cannot discharge certain types of debt, so it's best to consult an attorney to see what is best for YOU. Most consumer bankruptcy attorneys offer free consultations.

Answer Applies to: North Carolina
Replied: 8/18/2011

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Most debtors in bankruptcy have jobs. If your gross family income is greater than the median income in Colorado for a family of your family's size (computed over the last 6 months) is when you may not qualify for chapter 7 bankruptcy.

Answer Applies to: Colorado
Replied: 8/18/2011

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It depends on your income and expenses. You should consult an attorney to give you an opinion.

Answer Applies to: Florida
Replied: 8/18/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.