Bankruptcy filings are subject to a long list of complex legal and financial rules, so it’s reasonable to expect that your job could have some bearing on the outcome of your case. But what if you don’t have a job? Can you file for bankruptcy if you’re unemployed? And perhaps more importantly, should you? Our bankruptcy attorneys explore some of the factors you need to consider before you file.
If I Don’t Have a Job, Can I Still File?
The short answer to this question is yes, you can. There is no law or regulation prohibiting unemployed people from filing, and in fact, losing a job can often be the catalyst which prompts the decision to file. Moreover, there is no minimum amount of debt necessary to file, nor is there an age limit (provided you are at least 18 years old). Believe it or not, you don’t even have to be a citizen of the United States. With some exceptions, just about anyone who wishes to file may do so perfectly legally.
That being said, unemployment can have an effect on how your case proceeds, so you need to assess your financial goals and work prospects before you get started.