Results 1 to 3 of 3
  1. #1
    Join Date
    Dec 2007
    Posts
    1

    Question Converting From Chapter 13 To Chapter 7

    Hello,

    A little over a year ago my husband and I filed a chapter 13 repayment plan, he was laid off over the summer and we got behind so we had post petition agreements which raised our monthly payment to the trustee to $730 monthly ontop of a Mortgage payment of $951, it seems we are still struggling, with two young children and the everyday life needs, utilities, gas ect. It seems impossible to keep up. Late payments on our home and truck were included in the 13, but we do pay our mortgage payment to the lender outside of the plan. Is it possible to convert to a chapter 7 and Still keep our home and truck?

    Thank your for Any advice you can give me.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Converting From Chapter 13 To Chapter 7

    You should consult your bankruptcy lawyer (or a different one) to confirm that you qualify for Chapter 7 relief, and to confirm that it is your best option under the circumstances.

  3. #3
    Join Date
    Jan 2008
    Location
    Alabama
    Posts
    114

    Default Re: Converting From Chapter 13 To Chapter 7

    definitely consult your lawyer, you need to be certain that you will not lose any property that does not fit within your exemptions when you convert to chapter 7. Some people when they convert are faced with surrendering their vehicles, home, savings, stocks, etc when they convert and unfortunately unless you specifically ask about these things you may jump the gun and risk losing something you didn't want to lose.

    1. Sponsored Links
       

Similar Threads

  1. Chapter 7: Converting To Chapter 7 From Chapter 13 - Issues and Questions
    By 99980000 in forum Bankruptcy Law
    Replies: 1
    Last Post: 10-20-2007, 12:17 PM
  2. Chapter 13: Converting From Chapter 13 To Chapter 7 - Will The Trustee Refund My Payments?
    By NBHAMBLESSED in forum Bankruptcy Law
    Replies: 5
    Last Post: 09-27-2007, 10:31 AM
  3. Chapter 13: Problems Converting From Chapter 13 to Chapter 7
    By darkhexe in forum Bankruptcy Law
    Replies: 1
    Last Post: 07-07-2007, 08:52 AM
  4. Chapter 7: Mortgage Payments and Converting Chapter 13 to Chapter 7
    By NCDESPERATE in forum Bankruptcy Law
    Replies: 1
    Last Post: 09-03-2006, 08:38 AM
  5. Chapter 13: Converting Chapter 13 to Chapter 7 - the best option
    By Tammy8833 in forum Bankruptcy Law
    Replies: 1
    Last Post: 07-12-2006, 09:56 AM
 
 
Sponsored Links

Legal Help, Information and Resources