When a persons income is reduced does that result in Chapter 7 Bankruptcy?

if you get into a position that you owe way more money than you can possibly pay sometimes the best thing to do is to declare bankruptcy.

Not necessarily. My income has been low for the last 17 years. My credit score is 826. I have zero debt (every bill is paid in full on or before the due date. And my chances at chapter 7 is zero. I'm good at math.

Not if you have 3 - 6 months of living expenses in your savings account.  I got laid off and was unemployed for 20 months & didn't have to declare bankruptcy.  I simply tapped my savings account.  Goodness, you never want to be living paycheck-to-paycheck.  

No. Bankruptcy is necessary if debts are huge in comparison to assets or wages, and the debts pile up faster than income.

NO. Even a DRASTICALLY reduced income doesn't create bankruptcy, unless you have debts you couldn't afford anyway. Even actual default on debts doesn't create Chapter 7 bankruptcy until you file a bankruptcy petition.

Not automatically