Spoke with an attorney about bankruptcy. He said we make too much money to file for 7. He said we can file for 13 and then a year later ...?

on 13 the court will decide how much you will pay to the court to pay off your creditors in the allotted amount of time

if things happen in a year that this is not possible to maintain, then the full chapter 7 can be made and your creditors no longer get paid

if your income remains the same it is not likely to change to chapter 7

Give away your money, then it won't be such a problem.

Opinion? Use the advise of an expert like the one you already talked to instead of smass@sses on the internet. If you don't like his opinion then ask another expert.

ASK HIM, your paying him to do a job.

When the laws for bankruptcy changed in 2005, it made it harder to qualify for Chapter 7 bankruptcy, so now you can make too much money to file for a Chapter 7, which is why he told you to file for 13. Chapter 13 is a reorganization bankruptcy designed for debtors with regular income who can pay back at least a portion of their debts through a repayment plan. However, I think you have to wait longer than a year to file. I think when the laws changed in 2005, you have to wait 6 years now to receive the relief from a Chapter 7.

I work in Labor & Employment law and have little experience in corporate and bankruptcy (like 9 months), but I hope that helps some!