Convert to a 7? Does this sound right?

[Leesa0926]

Hi all!

We are planning to file but due to the way my income works it is currently up right now due to stocks my company has given me as income. I've already looked and there's no way around it currently but I expect around June of this year my prior 6 months will drop enough to qualify for the 7. There is no guarantee however so the attorney suggested we file the 13 now and then look to potentially convert if the income changes.


My current means test shows I have disposable income of close to $400. Based on what I know about my income and the stocks I receive it will be at least 500 less a month going into next year.



Does this make sense am I missing something?



If I was a couple years until a 5-year plan I could see just keeping it but if it's within the first year the conversion makes sense I just want to ensure that I understand this correctly.

[justbroke]

I thought I already answered this in another thread. Maybe despritfreya has input.

Whether or not you'll be able to do a straight conversion using a notice or you'll have to dismiss and refile, is a very specific. In my district in Florida, they didn't require a new Means Test, but they did require a new Schedule I/J. (Middle District)

So, yes, you could potentially convert later, but there are other factors. You'll need to ask your attorney specifically if conversion on notice is enough or do you need to meet other requirements.

[despritfreya]

As JB alluded to, I believe the Florida attny is relying on In re Layton, 480 B.R. 392 (Bankr. M.D. Fla. 2012)

https://fastcase.vlex.com/vid/895476336

Section 707(b) unambiguously requires a case to be filed under chapter 7 in order for the section to be applicable. A case that is converted to chapter 7 is not filed under chapter 7; it is instead filed under the chapter in which it originated. Given this plain language, the Court concludes that a plain language interpretation of § 707(b) is the better reasoned approach to interpreting its meaning. Accordingly, the court will deny the Motion to the extent it is based on § 707(b).

What I don’t know is if a higher Court in the 11th Circuit has ruled on this issue or, if not, if all of the Florida bk judges follow Layton.

Des.