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Can You File Chapter 13 Bankruptcy with High Income and Assets?

Are you still under the impression that if you have income and assets, bankruptcy is not available as a debt solution to you? Well, think again. As you can see here in an article about Nicole Eggert’s bankruptcy filing http://radaronline.com/exclusives/2014/01/nicole-eggert-files-for-bankruptcy/, she has over 15k in income per month and has total assets of over $1 million. So, how can she possibly file for bankruptcy? The answer is Chapter 13 bankruptcy.

You don’t have to be completely broke with no assets to file a bankruptcy. A Chapter 13 bankruptcy will put your debts in a long term monthly payment plan in order to pay back your creditors even on past due debt for assets that you want to keep like a home or car. In fact, Chapter 13 bankruptcy is designed for those who have expendable income, and too much income to qualify for a Chapter 7. Even if you have $15,000 in income and $1 million in assets, there may be a bankruptcy option for you. Make sure you take the time to explore your options when it comes to debt solutions.

For more information on how Chapter 13 works, contact us at 855 257-7671. We have offices in Riverside and Orange County to help you with your debt resolution questions.

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