QUESTION
Will quitting job affect our filing for bankruptcy?
Asked on Jun 04th, 2013 on Bankruptcy - California
More details to this question:
My husband and I are filing chapter 13. I want to quit my job to stay home and care for my Dad who lives with us and is unable to care for himself, and our son. Will this damage our outcome?
11 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
Update Your Profile
It is possible. Talk to your chapter 13 bankruptcy attorney. If you do not have one then I highly recommend you do so.
Answered on Jun 11th, 2013 at 9:34 PM
Richard hirsh
You have a right not to work. However, the chapter 13 plan payment might be based on the 6 months prior to filing, so your past income would affect your case.
Answered on Jun 10th, 2013 at 12:42 AM
Bankruptcy Attorney serving Florissant, MO
at
Law Offices of Thomas Corcoran Phipps
Update Your Profile
Your chapter 13 plan payment is based on your disposable income at the time the plan was confirmed. Taking your income out of the equation will change the amount you can pay to the trustee. You need to discuss with your attorney an amendment to your plan.
Answered on Jun 06th, 2013 at 12:20 AM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
at
Law Offices of Deborah A. Stencel
Update Your Profile
The answer depends on facts you have not shared here. These include the goals of your case, your financial situation, the types of debts you are dealing with, and possibly some other issues.
Answered on Jun 05th, 2013 at 7:36 PM
Chapter 7 Bankruptcy Attorney serving Appleton, WI
at
Sisson & Kachinsky Law Offices
Update Your Profile
Shouldn't hurt.
Answered on Jun 05th, 2013 at 7:26 PM
Bankruptcy Attorney serving Madison, WI
at
Richard B. Jacobson & Associates, LLC
Update Your Profile
Reducing your income could affect your capacity to make the payments required under the Chapter 13. It would be a good idea to sit down with your lawyer and calculate alternative budgets, and/or alternative Ch.13 plans, to see if it can work for you.
Answered on Jun 05th, 2013 at 7:19 PM
Antoinette M. Wooten
You can explain that the reason your income will decrease and, therefore, you will be unable to maintain your current lifestyle. You can also explain that you are leaving your employ in order to care for a sick parent. I believe the trustee will accept the truth and if you meet all of the requirements approve your chapter 13 plan.
Answered on Jun 05th, 2013 at 7:18 PM
General Practice Attorney serving Coeur d'Alene, ID
at
Michael B. McFarland, PA
Update Your Profile
At least one of you needs to have a "regular" income in order to qualify for Chapter 13. Also, it needs to be at least enough to make the Chapter 13 payments and still eat, etc.
Answered on Jun 05th, 2013 at 7:18 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
Update Your Profile
Discuss this with your attorney, if you are going to do this it could have ramifications because it will reduce the household "income". If you do not have counsel, engage one.
Answered on Jun 05th, 2013 at 7:13 PM
Deborah F. Bowinski
You need to speak with your attorney. Will you still be able to make your plan payments with reduced income?
Answered on Jun 05th, 2013 at 7:13 PM
Personal Injury Attorney serving Glendale, CA
at
JT Legal Group
Update Your Profile
Just by itself, it should not affect the outcome. However, your bankruptcy attorney should do the full analysis, tell you what your payments are, etc. before you even file for bankruptcy. That's really the litmus test that allows you to know and decide what to do.
Answered on Jun 05th, 2013 at 7:10 PM