QUESTION
Can I change to a lower paying job after I file bankruptcy?
Asked on Jun 08th, 2011 on Bankruptcy - California
More details to this question:
My wife and I have been considering bankruptcy for about 2 years now. I have wanted to change professions for 5 years but I haven't been able to due to the amount of debt that we have. The new profession that I want to pursue pays 30K less than what I am making now. Therefore, if I file for bankruptcy will I have to keep my same job or can I go ahead an take the job making less money?
8 ANSWERS
Yes, you can change to a lower paying job after you file bankruptcy. You can also change to a higher paying job. This is a decision that up to you. It is not regulated by bankruptcy law.
Answered on Jun 14th, 2011 at 9:22 AM
Bankruptcy Attorney serving Herndon, VA
at
Maureen O'Malley
Update Your Profile
Yes. Assuming you're talking about filing for Ch. 7.
Answered on Jun 10th, 2011 at 9:33 AM
Of course you can always change careers after filing bankruptcy. The bankruptcy court has no authority to tell you what type of employment to have. However, if you file a Chapter 13, it will be based upon the feasibility of the plan you put together which is closely linked to your income level. On the other hand, if you file a Chapter 7, only your income at the time of filing will be considered. If you have any further questions feel free to contact me.
Answered on Jun 10th, 2011 at 9:21 AM
Bankruptcy Attorney serving Concord, CA
at
William Rubendall Attorney at Law
Update Your Profile
You can change jobs before, during or after bankruptcy.
Answered on Jun 09th, 2011 at 11:24 AM
Glen Edward Ashman
This is an issue you have to discuss with your bankruptcy lawyer before filing. In a Chapter 13 the job change could result in an objection for bad faith. In some Chapter 7s there also could be an objection; in others it may be fine.
Answered on Jun 09th, 2011 at 10:39 AM
Bankruptcy Attorney serving Hayward, CA
at
Carballo Law Offices
Update Your Profile
You are free to do whatever you want after filing for bankruptcy.
Answered on Jun 09th, 2011 at 10:39 AM
Litigation Attorney serving Portland, OR
at
Daniel G. Hoarfrost
Update Your Profile
If you qualify for a Ch 7, then after you file and your debts are discharged, you are free to live your life any way you see fit.
Answered on Jun 09th, 2011 at 10:24 AM
Alternative Dispute Resolution Attorney serving Ventura, CA
at
Zahn Law Office
Update Your Profile
If you are filing for chapter 7 bankruptcy, then it doesn't matter whether or not you change jobs, as you won't be put on a payment plan. Your income will determine whether or not you may wish to remain liable for some debts you would otherwise want to keep, such as car loans or mortgages. If you are in my area and are looking for an attorney, please contact me for a free consultation.
Answered on Jun 09th, 2011 at 10:13 AM