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Dismissing a Chapter 13 and then filing for a Chapter 7

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    #1

    Dismissing a Chapter 13 and then filing for a Chapter 7

    My 8 years is up in September and then I qualify to file a Chapter 7.

    I may have an opportunity to get a new job that pays more than I am making now and may be over the median income. Right now I make about 36k/year. Is it possible to have my Chapter 13 dismissed in September and then file a Chapter 7? Of course I'd have to pay my attorney off as her fees are in my plan and then pay for a Chapter 7. What other ramifications are there? How long would I have to wait to file Chapter 7 and is that even possible?

    Could I purchase a car *I need one badly* up to the states exemptions and still qualify for Chapter 7?

    This by no means is really a done deal but I wanted to see what my options would be. It might make more sense just to finish out the Chapter 13 as I'm in a 3 year plan, with higher DMI I don't know.
    Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15
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    #2
    Can you just convert to a Ch 7 in September, instead of dismissing the Ch 13?
    Filed: 5/22/07; 341 Hearing: 6/27/07;
    Confirmed: 8/13/07; DISCHARGED 4/17/2012

    Comment

      #3
      I don't think you can convert from a 13 to a 7 if you didn't qualify for a 7 when you filed the 13.
      Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15

      Comment

        #4
        I believe it's because the filing date stays the same if you convert.
        ~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~
        Not an attorney - just an opinionated woman.

        Comment

          #5
          Very exciting MD! Crossing my fingers for you.
          Can't see why you couldn't/shouldn't buy a car if you can figure out a way to do so.

          Keep On Smilin'

          Comment

            #6
            By September you will probably know everything you need to know to go pro se, if you felt up to that. And you have 9 months to prepare! There's half your car paid for right there. Although being over the median might make it not so cut and dried.... I don't know what county you are in so I just picked one and it looked like median was around 46K, so this might be a very nice raise indeed. Would a car payment bring you under? Could you buy some life insurance?

            Will they raise your payment if you get the new job? For sure if they would, you'd need to get a new car to have the expense to deduct from dmi . And if they won't, it might not pay to switch since your payments are so low, they'd have to at least be more than you'd pay to refile.
            Last edited by keepsmiling; 01-15-2012, 11:04 PM.

            Keep On Smilin'

            Comment

              #7
              Originally posted by keepsmiling View Post
              By September you will probably know everything you need to know to go pro se, if you felt up to that. And you have 9 months to prepare! There's half your car paid for right there. Although being over the median might make it not so cut and dried.... I don't know what county you are in so I just picked one and it looked like median was around 46K, so this might be a very nice raise indeed. Would a car payment bring you under? Could you buy some life insurance?

              Will they raise your payment if you get the new job? For sure if they would, you'd need to get a new car to have the expense to deduct from dmi . And if they won't, it might not pay to switch since your payments are so low, they'd have to at least be more than you'd pay to refile.
              Trustee permission is needed before taking on new debt. If the DMI gets pushed higher because of the new job, then alerting the attorney is the first course of action.
              Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
              I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

              Comment

                #8
                OP, I'm in the same situation where my 8 years is up next month and I'm currently in a chapter 13 and I will be dismissing & filing 7 jointly with my wife.

                Comment

                  #9
                  Ah, that's why dismissing and then buying would be the thing to do. But there's that over the median thing....

                  Keep On Smilin'

                  Comment

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