QUESTION
Can I file for bankruptcy if I have no income to report and have not worked in the past 5 years?
Asked on Dec 17th, 2016 on Bankruptcy - Oregon
6 ANSWERS
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
You could file under Chapter 7. But why bother? Under your circumstances you are probably 'judgment proof' and it is possible that the statutes of limitation have passed on many of your debts. A consultation with a good bankruptcy lawyer seems like it's the next step
Answered on Feb 14th, 2017 at 6:50 AM
Yes, it is not a requirement that you actually have work history in order to file bankruptcy. You just have to be able to document what your source of income or support has been for the 2 years prior to filing the case.
Answered on Feb 13th, 2017 at 5:33 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
at
Ronald K. Nims
Update Your Profile
Yes, you can file bankruptcy with no income. The question is why would you want to? Most people file for bankruptcy to avoid having their wages garnished and/or their property seized by their creditors. You have no wages and it doesn't sound like you've got any property. Bankruptcy will stop harassment by your creditors but for most people, harassment alone isn't a good enough reason to file.
Answered on Feb 13th, 2017 at 5:33 AM
You probably can file for bankruptcy but a better question is whether or not you SHOULD file for bankruptcy. Unless you have an income or assets to protect, there is probably nothing any creditor can do to collect from you.
Answered on Feb 13th, 2017 at 5:32 AM
If you have no income or assets, you are "judgment-proof" so there is no reason go bankrupt. It is unethical for an attorney to file such a case. Instead, you can simply write letters to your creditors informing them of your status and telling them not to bother you again or you can sue them for violating the Fair Debt Collection Practices Act. If they persist, then an attorney can help you. In that event, you should contact Legal Aid for pro bono help.
Answered on Feb 13th, 2017 at 5:31 AM