People with High Income Often File Bankruptcy Under Chapter 7

Eligibility to file under Chapter 7 does not depend on income alone. It also depends on household expenses, household size, types and amount of debt, and other special circumstances. Do not assume you can't file Chapter 7 bankruptcy just because you have a high household income.

Bankruptcy Discharges Judgments

In California, bankruptcy can discharge personal liability for most unsecured judgments.

Retain and Pay for Vehicles

In California, you are not required to reaffirm a vehicle loan if you want to keep the vehicle in a Chapter 7 bankruptcy. As long as you keep making payments in full and on time, you can usually keep the vehicle without reaffirming.

Chapter 13 Can Resemble a "Long" Chapter 7

Chapter 13 plans can have very low monthly payments. Many Chapter 13 filers discharge the vast majority of their unsecured debts at the end of their Chapter 13.