how long after filing bankruptcy do you have to pay surplus income to creditors?
I want to file bankruptcy because i am in a lot of debt. I have heard that i can only make 36 a month before taxes. If i make more up to 75% can go to creditors. I just wanted to know how long this lasts. I dont want to be paying this for years to come. Would appreciate an answer from somebody who knows the facts or someone who has been in the same situation.
Each state has its own income guidelines to qualify for Chapter 7…which is basically the average income for your state…you need to have an income below that to qualify for Chapter 7. Most BK attorneys offer free consultations….you can find out that way if you qualify.
If you file for Chapter 7, your surplus income does not have to be paid towards debt that was discharged in a Chapter 7….that’s the whole point of filing in the first place.
FYI: Student loans cannot be discharged in a Chapter 7 filing
July 18th, 2010 at 10:42 pmmaybe you should stop spending your cash on hookers
July 18th, 2010 at 10:42 pmBest to check with your bankruptcy lawyer in regards to these questions. They will be able to help you.
July 18th, 2010 at 10:42 pm