Bankruptcy, Finance, & Debt Relief Blog

Income & Bankruptcy

No matter how much you earn, you still may qualify for Bankruptcy to get creditors to stop harassing you. While Chapter 7 Bankruptcies have a cap on how much money you can make in order to file, there are some strategic exemptions. Otherwise, Chapter 13 Bankruptcies are available to those who make too much money to file a Chapter 7 case. Here's a look at how high income earners are treated in bankruptcy. Under the Bankruptcy Code, anyone who makes more than the median income for a family of their size located in their state must complete an extra form called the means test to determine if they qualify for Chapter 7 bankruptcy. If an individual's means test indicate that they don’t have any

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