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Apparently I make too much money to file for ch 7 and discharge all debts. However, I have suddenly come into a large debt due to landlord going back on a verbal agreement to pay less rent for 16 months. Now upon tryin to sell our business due to finiancial issues and asking to transfer the lease, he has now decided I owe him all the back rent which totals over 60k plus we have a business credit card with about 20k on it. I can’t pay this amount and continue to pay monthly rent at the increased rent. The selling of the studio may not happen anymore so now I am in this financial mess. There is two more years on the lease and if I fight him on the money owed I will likely be evicted and on the hook the remainder of the lease. So my question is, if I file for chapter 13, am I only repaying the current debt or am I also entering into a repayment plan for the remainder of the lease agreement. Ie all the rent payments due between now and the end of the lease?
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Who said you make too much for Chapter 7? In my opinion whoever said that has no idea how to calculate a means test. If you have this much debt and problems, you likely qualify for Chapter 7.
Answered on Apr 08th, 2018 at 3:30 PM