Does filling for bankruptcy chapter 13 require a job? 39 Answers as of July 04, 2013

I have a steady income from real-estate properties, can I file for chapter 13?

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Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
You are not required to have a job in order to file a Chapter 13. You are supposed to have steady income that exceeds your current monthly expenses. If you have steady income from real estate properties, and if you fall within the debt limits set forth in 11 U.S.C. Section 109, then you are eligible to file Chapter 13.
Answer Applies to: California
Replied: 7/15/2011
Financial Relief Law Center
Financial Relief Law Center | Mark Alonso
You do not need to be a W-2 employee to file for a chapter 13. You can be self employed and still file, but will likely need to submit profit and loss statements as well as bank statements.
Answer Applies to: California
Replied: 7/14/2011
The Law Office of Marvin Wolf
The Law Office of Marvin Wolf | Marvin Wolf
Generally speaking, some form of cash flow is required to fund a chapter 13 plan - it does not need to come from a regular job or even from the debtor himself. Income from real estate investments (profit net of expenses) can be used to fund a plan. However, with multiple properties, there are other issues and chapter 13 may not be the best choice - just because you can file (at least based on this one factor only - I haven't looked at other factors) does not mean you should.
Answer Applies to: New Jersey
Replied: 7/12/2011
The Northwest Debt Relief Law Firm
The Northwest Debt Relief Law Firm | Thomas A McAvity
Chapter 13 Bankruptcy requires only a regular source of income and not employment per se. You can file.
Answer Applies to: Oregon
Replied: 7/12/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, self employed people do it all the time.
Answer Applies to: California
Replied: 7/12/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    Chapter 13 is also called a "wage earner plan." If you have steady income you.should qualify. But look into Chapter 7, too.
    Answer Applies to: Virginia
    Replied: 7/4/2013
    Colorado Legal Solutions
    Colorado Legal Solutions | Stephen Harkess
    Filing for Chapter 13 only requires a steady source of income. The source of the income does not matter.
    Answer Applies to: Colorado
    Replied: 7/11/2011
    Kevin Bluitt, Attorney at Law
    Kevin Bluitt, Attorney at Law | Kevin Bluitt
    You do not need a job, but for a chapter 13 bankruptcy requires steady disposable income. Disposable income is income left over after you pay for basic living expenses, such as food and utilities. Also, you can't have more than $1,081,400 in secured debt (property or other assets a creditor might take if you don't make payments) and $360,475 in unsecured debt. In a Chapter 13 case you file a payment plan for debts. The court decides on the plan length based on your income (3 to 5 years).
    Answer Applies to: Florida
    Replied: 7/11/2011
    Sariol Legal Center
    Sariol Legal Center | Frank R. Sariol
    To file for chapter 13 protection, you must have "disposable" income, secured debts under $1,081,400 and unsecured debts under $360,475.00.
    Answer Applies to: California
    Replied: 7/4/2013
    Edward Papa, Esq.
    Edward Papa, Esq. | Edward Papa
    Yes, if you have regular income you can qualify for a Chapter 13. Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $360,475 and secured debts are less than $1,081,400. 11 U.S.C. 109(e).
    Answer Applies to: New York
    Replied: 7/11/2011
    Lake Forest Bankruptcy
    Lake Forest Bankruptcy | Anerio V. Altman, Esq.
    Yes, but you should get an attorney for your case. Commission based Debtors require a bit of skill to get the Chapter 13 Trustee to approve the case.
    Answer Applies to: California
    Replied: 6/10/2013
    Symmes Law Group, PLLC
    Symmes Law Group, PLLC | Richard James Symmes
    In order to file chapter 13 bankruptcy you must show that you will have enough disposable income in order to your monthly plan payment.
    Answer Applies to: Washington
    Replied: 7/4/2013
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    A Chapter 13 does not require a wage to qualify. It can be any regular source of income which can be relied upon to fund the Chapter 13 plan payments, whether that be self employment, unemployment, rental income, or whatever.
    Answer Applies to: California
    Replied: 7/11/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    Yes, if you qualify for it.
    Answer Applies to: California
    Replied: 6/10/2013
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Maybe. That may suffice for the regular income. However, you may have too much secured debt to file if you invest in realty, so you need a lawyer to run the numbers.
    Answer Applies to: Georgia
    Replied: 7/11/2011
    Tucker Legal Clinic
    Tucker Legal Clinic | Samuel Tucker
    You must have a regular income to file a Chapter 13, so, yes, you should be able file.
    Answer Applies to: Mississippi
    Replied: 7/4/2013
    Hines Law Offices
    Hines Law Offices | Holly H. Hines
    A Chapter 13 Plan will require some sort of re-payment therefore you must have some form of income in order to support the plan payment that you are obligating yourself to make. Self-employment income from the rental properties should be sufficient if properly documented.
    Answer Applies to: Massachusetts
    Replied: 7/11/2011
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    Steady income is all you need. Doesn't matter where it comes from.
    Answer Applies to: California
    Replied: 7/4/2013
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    No job is required. Owning real estate is a business (you are in the business of renting property) since it requires management. Therefore, you have business or self-employment income that is regular.
    Answer Applies to: California
    Replied: 7/11/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    A ch 13 does not necessarily require a job but does require regular income. If your income is derived from rental property you may have an asset issue. For there to be enough rental income to live on your rentals may have to much equity to file bk. Do yourself a favor and discuss it with an attorney before you file.
    Answer Applies to: California
    Replied: 7/11/2011
    Melinda Murphy Dionne, PC
    Melinda Murphy Dionne, PC | Melinda Murphy Dionne
    To file a Chapter 13 case, you must have regular income that is sufficient to fund your Chapter 13 plan. The source of the income does not matter as long as you otherwise qualify for relief under Title 11.
    Answer Applies to: Alabama
    Replied: 7/11/2011
    Eric J. Benzer, Attorney at Law
    Eric J. Benzer, Attorney at Law | Eric Benzer
    Yes.
    Answer Applies to: Maryland
    Replied: 6/10/2013
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