Conversion to a Chapter 7 thoughts!
So, just curious about converting from a 13 to a 7... We have our 341 meeting on Thursday and I'm looking forward to it, though also dreading it. LOL I posted previously about the possibility that I may lose my job, but even if I kept my little part-time job, we did the math on what my take home pay is and what daycare costs and added in the Chapter 13 payment. Wow, my take home pay in a year will only be like 3K! Daycare is soooo expensive and we only have one child! Anyways, I finally got an answer back from the lawfirm in regard to what would happen if I did lose my job or quit because the daycare cost is retarded (the lawyer did say that the daycare cost would be a good reason/justification to show the court) and then had reduced income. I was informed that we could probably convert to a Chapter 7 after showing for two or three months the reduction in income.
So, I guess my wonder is if the court is going to think it weird if we have our 341 meeting on Thursday, and then I tell my lawyer that my last day is March 9th (assuming I give a two week notice tomorrow). Do you think it would be best to just tell the lawyer that I am no longer employed at my part-time job when I'm actually no longer employed there? The mere mention that I might not need my daycare provider's services, and she's already set up interviews for my daughters slot! Geez!
I've already made my first payment, so we'd have probably a total of three or four Chapter 13 payments to the Trustee before we could file to convert, right? I just want to get it clear how the timeline would go.
Maybe it wouldn't look so odd, because what if I was let go this Friday or something due to budget cuts? Bah, I had the madness that ensues when trying to plan for every little detail!
I'll be thrilled that I'll get to be a semi-SAHM! Oh, and what little income I'd bring in through my web design work, I did the math and I'll actually get MORE in take home pay than I would working outside the home at the part-time job I have now (because no cost for daycare)! LOL
But, seriously, the cost of daycare + the bankruptcy payment = very little pay in my salary and it just sucks. If we didn't have such expensive daycare (well, it seems to be for me and hope we don't have another kid any time soon!), I'd be totally fine with a payment for 5 years as I do like my job, but wow...
As it is, we were just over for a Chapter 7, so this would be a blessing, I guess.
Thanks everyone!
So, I guess my wonder is if the court is going to think it weird if we have our 341 meeting on Thursday, and then I tell my lawyer that my last day is March 9th (assuming I give a two week notice tomorrow). Do you think it would be best to just tell the lawyer that I am no longer employed at my part-time job when I'm actually no longer employed there? The mere mention that I might not need my daycare provider's services, and she's already set up interviews for my daughters slot! Geez!
I've already made my first payment, so we'd have probably a total of three or four Chapter 13 payments to the Trustee before we could file to convert, right? I just want to get it clear how the timeline would go.
Maybe it wouldn't look so odd, because what if I was let go this Friday or something due to budget cuts? Bah, I had the madness that ensues when trying to plan for every little detail!
I'll be thrilled that I'll get to be a semi-SAHM! Oh, and what little income I'd bring in through my web design work, I did the math and I'll actually get MORE in take home pay than I would working outside the home at the part-time job I have now (because no cost for daycare)! LOL
But, seriously, the cost of daycare + the bankruptcy payment = very little pay in my salary and it just sucks. If we didn't have such expensive daycare (well, it seems to be for me and hope we don't have another kid any time soon!), I'd be totally fine with a payment for 5 years as I do like my job, but wow...
As it is, we were just over for a Chapter 7, so this would be a blessing, I guess.
Thanks everyone!
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