Confirmed 13 and Layed Off

[Pattie Smith]

My husband has been laid off this week and I have been trying to get some answers. We have been confimed on a Chapter 13 July 31, 2008. I hope my husband finds a job soon but if not my question is does a Chapter 13 roll over into a Chapter 7? I appreciate any input since our attorney has not got back to us.

[justbroke]

It doesn't "roll over" automatically. The Trustee will eventually file a Motion to Dismiss (when you miss payments).

YOu can convert the case to a Chapter 7, at anytime. There are some rules, but mostly, you need to qualify for a Chapter 7. If you have significant property that you want to keep, this can get tricky, as you'll need to play the exemptions game and make sure your property is covered somewhere.

Other than that, that'z all I know. I have been thinking about this myself... jus tin case. I'm in a new Chapter 13, but I have been thinking and reviewing my "what if" options.

[Pattie Smith]

Thanks Justbroke I will let you know what our attny says about it.

[TiredOfItAll]

We were over a year into our Chapter 13 payment plan and due to some some job income losses....both of us still employed but about $7000/year less.....rising prices of everything and not wanting to hang onto a house that is not big enough for our family anymore and needs repairs(of course, no money for that), we recently converted to a 7. It won't simply roll over and I could not have to trustee dismiss it, as the payments for the plan automatically come out of my paycheck. So, we had our attorney file the paperwork to convert and it has been a painless procedure. Only cost us $25 to convert and my payroll deductions were stopped before my next paycheck and we even received the last payment back as a check from the trustees office. For us, it was the best we could do, and we are now totally moved into our new rental and quite happy there. It was a good move for us and I am glad we converted and will be discharged probably in February and have a totally fresh start. For us, this is the most stress free we have felt in quite sometime.