Can i quit my job and file bankruptcy? - Bankruptcy Law Questions and Answers- LawQA.com

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Can i quit my job and file bankruptcy?

Can I file while I am still working and have an income but then quit before the creditor's meeting?

Mercado & Hartung, PLLC
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The look back period as to income is 6 months BEFORE the BK filing

Answer Applies to: Washington
Replied: 7/21/2011

Answer By Alan D. Walton
Breckenridge and Walton
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Not relevant without other facts.

Answer Applies to: Michigan
Replied: 7/21/2011

Answer By Gary Lee Lane
CONSUMER PROTECTION ASSISTANCE COALITION, INC. (DE).
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yes

Answer Applies to: California
Replied: 7/20/2011

Answer By Eric Benzer
Eric J. Benzer, Attorney at Law
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Yes.

Answer Applies to: Maryland
Replied: 7/20/2011

The Schreiber Law Firm
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The income considered when you file bankruptcy goes back for six months before you file, so you would have to be unemployed for a considerable time if the amount of income is an issue concerning filing.

Answer Applies to: California
Replied: 7/19/2011

Rosenberg & Press, LLC
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If you are over means test amounts and transparently quit high wage job to water down average income, that seems awfully fraudulent. Quitting a job of modest means within acceptable limits would just be senseless.

Answer Applies to: Connecticut
Replied: 7/19/2011

Answer By Marvin Wolf
The Law Office of Marvin Wolf
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It's attempts like this to game the system that gets people thrown in jail. Bankruptcy fraud is a federal crime. People get prosecuted for this. The sad part is that many times, it was not necessarily to lie or scheme in the first place. A good lawyer can usually exempt most if not all of your assets, or file a different type of bankruptcy. Just because someone is working doesn't mean they can't file bankruptcy. I file for working debtors all the time. Honest but unfortunate debtors get a bankruptcy discharge. Dishonest debtors get visiting hours.

Answer Applies to: New Jersey
Replied: 7/19/2011

Answer By Stephen Harkess
Colorado Legal Solutions
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You can, but what would be the point? Your income for means test purposes is the income earned in the 6 full months BEFORE you file. If you are in a Chapter 7 then it won't matter what happens to your income after you file. If you are in a Chapter 13, the loss of your income will likely make the plan not feasible and lead to the dismissal of your case. In either case, quitting your job will not help you.

Answer Applies to: Colorado
Replied: 7/19/2011

Answer By David VanDyke
Bird & VanDyke, Inc.
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Yes. Although you may have an issue with regard to any secured debt you wish to reaffirm. Also this would only apply in a chapter 7 as a 13 will require regular income.

Answer Applies to: California
Replied: 7/19/2011

Ashman Law Office
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If you file a 13 that will destroy the 13. If you file a 7, that will eliminate the ability to reaffirm debts. It would seem very foolish to do this, but if you want to do it, discuss it with your lawyer.

Answer Applies to: Georgia
Replied: 7/19/2011

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