High Income Bankruptcy Filers

Can someone who earns a higher than average income file bankruptcy?

Yes, there is no “income cap” on filing Chapter 7 or Chapter 13. This means that even if you earn $100,000, $200,000, $300,000 or more, you can still file for bankruptcy relief.

Most of the time, however, high income bankruptcy filers will end up in a repayment plan, rather than a Chapter 7 “straight bankruptcy.” Generally only people of modest income (around $70,000 household income annually for a family of 4) will qualify for Chapter 7, although there are some exceptions.

High income filers will often need to file a Chapter 13 debt consolidation, which may not reduce total debt, but it can eliminate interest charges on credit card debt and stop looming foreclosures and repossessions.

Anyone, regardless of their household income, can find himself with a cash flow crunch. If this happens to you, please call Susan Blum or Jonathan Ginsberg of Ginsberg Law Offices for a confidential discussion about your options.

Jonathan Ginsberg
Ginsberg Law Offices
Atlanta bankruptcy law
770-393-4985

Видео High Income Bankruptcy Filers канала Personal Bankruptcy Law Atlanta