What Happens if I Land a New Job While in Chapter 7

Описание: When we file Chapter 7, we submit a budget to the bankruptcy court which will show that your income and expenses cancel out, or perhaps, that your expenses exceed your income.

Either way, we cannot file Chapter 7 if your budget shows any significant disposable income.

If you land a new job while your Chapter 7 is active, we are required by the Bankruptcy Code to update your budget. If your updated budget does show money left over at the end of the month, we could have a problem.

As discussed in this video, a meaningful increase in disposable income may mean that we have to look at a Chapter 13 repayment plan. We can also look at amending your budget to show increased expenditures, thereby retaining your eligibility for Chapter 7.

Prior to filing a Chapter 7, make sure to discuss with your lawyer any active efforts on your part to find a new job so that you fully understand the consequences.

Want more knowledge about Chapter 7 or Chapter 13 bankruptcy? Visit the Ginsberg Law web site at http://www.atlanta-bankruptcy-attorne... or our blog at http://www.thebklawyer.com/thebkblog.

Jonathan Ginsberg
Ginsberg Law Offices
Atlanta bankruptcy lawyers
770-393-4985