The Pennsylvania median income will increase again for most families as of May 1, 2020, meaning more debtors will qualify for Chapter 7 Bankruptcy.
Don't assume that your high income will prevent you from filing for Chapter 7 bankruptcy in Pennsylvania. Income is not the sole consideration in determining if you qualify.
Deficiency judgments in Pennsylvania can follow a mortgage foreclosure, leaving the former homeowners on the hook for thousands of dollars. Bankruptcy can stop deficiency judgments and discharge debt.