I’m looking for a lawyer and wish to file Chapter 7 Bankruptcy, but I believe my income of 11K a month is too high. I have three rental properties in foreclosure and all the tenants stopped paying their rent when I told them to look for new places because I was in foreclosure. My mortgages payments, taxes and HOA dues total 9K a month. The values of the properties have gone down so much that it does not make sense to continue to pay on them. My credit card debt is 125K with payments of 2.5K per month. Last year, I put 50K in a qualified retirement plan.
Can I file for Chapter 7? If I can, do keep my retirement money?