Bankruptcy Options for the Unemployed

When a person is unemployed or underemployed, they may be unable to abide by the repayment plan associated with Chapter 13 bankruptcy. As a result, they may be unsure how to proceed with their debt relief strategy. However, bankruptcy may still be available through Chapter 7 filing or Chapter 7 conversion. This option can allow a person to continue filing for bankruptcy protection and not have to worry about the expectations of a repayment plan.

If you are considering filing for bankruptcy protection but are not certain whether you can work through the repayment plan, we can help you to make this determination. Contact the Birmingham bankruptcy lawyers of [firm-name], by calling [phone-number].

Filing for Bankruptcy without Income

A person who is not receiving any or substantial income may be unable to work through the repayment plan expected of Chapter 13 bankruptcy proceedings. Instead, these individuals may want to consider Chapter 7 bankruptcy.

For the unemployed or underemployed, the following Chapter 7 benefits may prove particularly useful:

  • No repayment plan
  • Debt is handled quickly through the discharge
  • Liquidation is especially useful for debtors with few assets

If a person is considering converting their bankruptcy or is just getting started with the process of filing, working closely with a legal advisor can help to avoid needless complications or the surrender of assets which should be protected.

Contact Us

If you have been pushed beyond your financial limits by debt, we may be able to help you work through a bankruptcy that fits your household finances. For a free consultation about your options if you are unemployed, contact the Birmingham bankruptcy attorneys of [firm-name], today at [phone-number].


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