Legal Question in Bankruptcy in Wisconsin
banruptcy question
Can an individual make to much money to file for banruptcy?
Asked on 11/21/00, 8:49 pm
1 Answer from Attorneys
JAY Nixon
nixon law offices
Re: banruptcy question
Until the long pending bankruptcy reform bill
is passed by congress, there are no limitations
on income for a chapter 7 bankruptcy filing. The only
requirement is that you be unable to pay your
debts when due. There is, however, a provision
allowing for dismissal of abusive cases. This
has been interpretted to apply in some cases
where the income is too high in relation to
reasonable living expenses. Please send me
a private e-mail with more specifics as to
your situation for a more definite opinion.
Answered on 11/29/00, 8:17 am
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