We filed for a chapter 13 and our confirmation is scheduled for October 8. I have made two payments to the trustee with one more due tomorrow. My husband had a stroke last October and is having a difficult time working (he is a teacher). We are thinking about him taking early retirement, which would cut his income from 2400 to 700 per month. I think we would then qualify for a chapter 7. We are at least 3 months behind on our house, but would give it up since our mtg rate is 12% and have no equity. I have a call into the lawyer right now, and am HOPING for a call back today. Any knowledge or comments???
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At any point after filing 13, you can convert to a Ch7 if you become eligible for one. But in the meantime, don't let your payments lapse, because you don't want your 13 dismissed before you can have it converted.
I don't know how much your atty will charge you to file for conversion, but he may try to talk you out of it altogether. If you're pretty sure you qualify for Ch7, don't let him.
Ch13s are much more lucrative for attys. You may also, if his fee is too steep, be able to find another who will do the conversion for you if necessary, but it would be a hassle so try to work it out with this one. Play very, very poor. Which shouldn't be a stretch.
Good luck!!!Nolo Press book on filing Chapter 7, there are others too. (I have no affiliation with Nolo Press; just a happy customer.) Best wishes to you!
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