answersLogoWhite

0


Best Answer

Only if you have filed chapter 6.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can you quit your job before filing chapter 7?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Finance

Can should your spouse get a job after filing bankruptcy chapter 7 but before the meeting of creditors?

You can switch jobs at any time during bankruptcy. The tax returns for the previous year are usually used when figuring income in bankruptcy. It is doubtful the new income would be a factor.


Is there an insurance you can purchase to protect your mortgage payment in case you lose your job?

Yes, there is depending I believe that you lost your job and did not quit. Through your present mortgage lender.


Will you get fired from your job if you file for bankruptcy?

No, you can't get fired for filing for bankruptcy because as what federal law prohibits an employer to discriminate against you for declaring personal bankruptcy. In fact, you will probably be happy and relieved to know that your constitutional rights protect you from being fired for filing bankruptcy. Yes, it is a violation of your rights, not to mention a crime to fire someone for filing bankruptcy. So, don't worry your job is safe.


What is a 401k savings plan?

a 401k plan is an life time money dealing plan you should have after you quit your job


Chapter 13 Bankruptcy Provides Relief to Debtors?

If you're overwhelmed by debt and have a steady job, filing for bankruptcy under Chapter 13 of the federal bankruptcy code might work for you.The federal government calls it the "wage earners" bankruptcy as it is targeted at people who have jobs and want to repay the debts they incurred. Chapter 13 calls for debts to be paid off in three to five years. The government likens the process to a consolidation loan only the debtor pays a bankruptcy trustee who distributes money to creditors.A key element to Chapter 13 bankruptcy is that, unlike Chapter 7 bankruptcies, a debtors property is not sold to pay the debts. If a debtors house is in foreclosure, the debtor will be allowed to keep the house, though he must keep current on mortgage paymentsand repay late payments.Eligibility for Chapter 13Only working individuals, including the self-employed, can apply for Chapter 13 relief. The debt limitation changes periodically, but in 2011, people could have up to $360,465 in unsecured debt, such as consumer loans, and $1,081,400 in secured debt, such as home mortgages. Debtors must undergo credit counseling with a federally-approved agency within six months before filing for Chapter 13. They also cannot have had any previous bankruptcy filings dismissed because they failed to appear within the same period.The ProcessThe bankruptcy court requires debtors to file a substantial amount of paperwork with the bankruptcy petition. Required documents include a list of assets and liabilities; a listing of income and expenditures; copies of contracts, unexpired leases and a recent tax return, as well as proof the debtor has participated in credit counseling. Information must also be filed for the spouse even if that person is not filing for bankruptcy.After the petition is filed, which requires payment of fees that were under $300 in 2011, a trustee is appointed to oversee the rest of the process. Once the petition is filed, creditors may not call the debtor about repayment, start a lawsuit to recover payment or garnishee wages.The trustee will help the debtor draw up a payment plan, and both will meet with creditors to discuss it. The plan must be approved by the bankruptcy court. The debtor must start making payments within 30 days of filing. When the debts have been paid, the bankruptcy can be discharged.