Is it possible to open up your bankruptcy and convert a discharged Chapter 7 (Discharged 1 month ago) into a Chapter 13? I looked in the bankruptcy law and it states the following:
706. Conversion
(a) The debtor may convert a case under this chapter to a case under chapter 11, 12, or 13 of this title at any time, if the case has not been converted under section 1112, 1208, or 1307 of this title. Any waiver of the right to convert a case under this subsection is unenforceable.
This information was quoted from here: http://www.law.cornell.edu/uscode/us...6----000-.html
My reason for asking is that I had about $1,200,000 in personal guarantees (unsecured debt) on some spec home loans where my spouse was on the notes. My spouse (going through a divorce) however, paid these off 3 weeks prior to my bankruptcy filing so I was unaware that the guarantees were gone. Had I known they were paid off I most likely would have fallen within the threshold to qualify for a Chapter 13 given my actual total amount of unsecured debt. My main reason for wishing I could have done a 13 is relating to a large debt equalization payment my spouse is seeking through our divorce proceedings. Thanks, HB
706. Conversion
(a) The debtor may convert a case under this chapter to a case under chapter 11, 12, or 13 of this title at any time, if the case has not been converted under section 1112, 1208, or 1307 of this title. Any waiver of the right to convert a case under this subsection is unenforceable.
This information was quoted from here: http://www.law.cornell.edu/uscode/us...6----000-.html
My reason for asking is that I had about $1,200,000 in personal guarantees (unsecured debt) on some spec home loans where my spouse was on the notes. My spouse (going through a divorce) however, paid these off 3 weeks prior to my bankruptcy filing so I was unaware that the guarantees were gone. Had I known they were paid off I most likely would have fallen within the threshold to qualify for a Chapter 13 given my actual total amount of unsecured debt. My main reason for wishing I could have done a 13 is relating to a large debt equalization payment my spouse is seeking through our divorce proceedings. Thanks, HB
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