Conversion to a 7 rules.

[justbroke]

... duplicate ...

[justbroke]

However my plan payment would be $350, with my car loan crammed down into it.

If you convert, I beleive you lose your "cramdown". Anyone else know anything about this?

This is true. All liens are restored to where they were at the time the petition was filed. This means that any lien strips you did, are now void and the lien in enforceable at it's pre-petition condition.

Yeah, converting from Chapter 13 to Chapter 7 does has some issues if you used the lien stripping, strip down and cram down provisions.

[sassiebaz]

It is only 25% garnishment per person.

Ok, so 50% between the both of us? Is that per credtior or how does this work? How many people can actually garnish at one time. I guess it doesn't matter as we will file in the next 6 months. Hopefully not giving anyone time to garnish our wages.....

[MJJ3767]

Ok, so 50% between the both of us? Is that per credtior or how does this work? How many people can actually garnish at one time. I guess it doesn't matter as we will file in the next 6 months. Hopefully not giving anyone time to garnish our wages.....

No Sassie, in Arizona it's 25% total. So let's say that BofA, Capital One, Chase and Joe the Plumber all get a judgement on you. The most that can be garnished is 25% total. From what I was told, whoever gets the judgement first, gets the 25%. The rest wait in line until creditor #1 is paid off. Keep in mind, there is some formula to arrive at that 25%. It's not just 25% of your gross income. But not only can they get a judgement, they can seize your bank account. And from what my attorney told me, they can seize it time and time again. It's not a one time shot at your account. Each time you deposit your paycheck, they can be right there to grab it payday after payday.

[sassiebaz]

This another piece of misinformation the last lawyer I spoke with gave me. He stated 50% was the max. Ugh....so frustrating!

[optimistic1]

If you add up the 25% per each persons paycheck, you might look at it as 50%, but it really isn't.