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Benefit from the Experience of Attorneys Bill and Valerie Sherman Former Assistant Attorney General, Assistant County Attorneys and Magistrate Judge

Can I file bankruptcy if I have a job?

Question: I’m working and I’ve got a lot of debt and I think I should file bankruptcy. I work in sales and I’m actually making good money, but my bills each month are so high that my accountant said I need to declare bankruptcy. My accountant said I need some real debt relief and he recommended that I talk to you and file a chapter.

Like I said, I’m making money. Really, I’m making pretty good money. My income is close to $200,000 a year with bonus. But since my wife doesn’t work and I send all my kids to private school, I think I could use some relief.

One of my kids is on the autism spectrum and the other two have behavioral issues. One of my kids goes to the Kings Ridge Christian School in Milton, which is a school that has many children that suffer with behavioral, developmental and academic issues. So far it’s working for him, and my wife and I think it’s a good learning environment. He just couldn’t handle public school yet.

My wife doesn’t work, although she used to. Now she’s at home, usually drinking wine, by the way. Sometimes I really wonder why she even got a Ph.D. in thermal nuclear engineering. I’ve been encouraging her to get a job, but she spends her days on Facebook and Instagram.

And I’m paying for therapists for the other two children. I’ve caught them both with marijuana and cocaine and I think they’re both lesbians, but I’m not so sure and I don’t really care.

I have a credit card with an $87,000 balance, and I can’t even make the minimum payments every month. I try to send some money each month to pay the debt down, but I can only afford about $10.00 a month, which is pathetic, I know.

Maybe things will get better, but who knows? I really need to explore my bankruptcy options with a top-rated Gwinnett County bankruptcy lawyer because I’d like to eliminate all the debt, sell my house, and maybe try putting my kids in a public school. That’s my dream!!!

I’d like to know if I can go bankrupt even if I’m working and making decent money.

R.N. in Lawrenceville, GA

Answer: Yes, you can definitely file bankruptcy if you are working. In fact, the overwhelming majority of bankruptcy filers are employed. And people from all walks of life file bankruptcy: doctors, lawyers, engineers, business people, scientists, regular people; truly people involved in every type of profession, business and job file bankruptcy. It seems that everyone wants a fresh financial start in life and that is done through bankruptcy for millions and millions of Americans. In fact, the right to file is guaranteed in the United States Constitution.

How much income a person has can be a major component of what type of bankruptcy he or she can file. Chapter 7 is the most common bankruptcy, but higher income people sometimes file a chapter 13. It depends on many different factors.

But don’t worry; you can certainly file for bankruptcy protection if you are working.