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Converting a 13 into a 7... is this possible???

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    Converting a 13 into a 7... is this possible???

    If there is a likelyhood that I may have to file a chapter 13 (to keep a lawsuit from getting a judgment against me) and in a few months my income has gone down can I then convert to a 7??? If I can what are the ramifications of doing this?? Can I lose my home and cars? Anyone???
    08-2009:Quit Paying Credit Cards
    04-2010:Hired 2nd Attorney;05-2010:Filed 7
    06-2010:341 Meeting (went very well)
    08-24-2010: Discharged; 09-02-2010 Closed!!

    #2
    Originally posted by Ann View Post
    If there is a likelyhood that I may have to file a chapter 13 (to keep a lawsuit from getting a judgment against me) and in a few months my income has gone down can I then convert to a 7???
    Well, converting is not so simple. It really does depend on your local rules and practices. First, some Districts require that you must hvae qualified for a Chapter 7 at the time you filed for the Chapter 13. This is because a converted case is really the same case that you started with and has the same filing date as originally filed.

    Second, it is sometimes better just to dismiss the Chapter 13 and refile as a Chapter 7. If you have a good attorney, they can usually do this without getting into any of the "dismissal with prejudice" issues.

    Originally posted by Ann View Post
    If I can what are the ramifications of doing this?? Can I lose my home and cars? Anyone???
    This depends on what condition you are in financially. If you are behind in payments on your home and car, converting to a Chapter 7 may cause you to lose them.

    I think you still have a problem with your attorney. You should be feeling real comfortable right now and have a good "plan" on how to deal with the various issues that you keep coming up with. I think that you're unsure of things and that you're even unsure of your attorney. Those two things are not a good combination and are causing you more stress.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      justbroke, thank you for being my "voice of reason"!!! I appreciate how you have tried to calm my fears...believe it or not you really have helped me, so thank you!!! Yes, very unsure of EVERYTHING! One quick note here...I just received a letter from a collection agency (for the debt of American Express) and they have yet again offered me a payment plan or I could just settle. My credit report listed a suit or judgment has been added to my file with both Chase and American Express on it. If they at this point were going to sue would they now bother with offering me something? Anyone?
      08-2009:Quit Paying Credit Cards
      04-2010:Hired 2nd Attorney;05-2010:Filed 7
      06-2010:341 Meeting (went very well)
      08-24-2010: Discharged; 09-02-2010 Closed!!

      Comment


        #4
        Originally posted by Ann View Post
        justbroke, thank you for being my "voice of reason"!!! I appreciate how you have tried to calm my fears...believe it or not you really have helped me, so thank you!!! Yes, very unsure of EVERYTHING! One quick note here...I just received a letter from a collection agency (for the debt of American Express) and they have yet again offered me a payment plan or I could just settle. My credit report listed a suit or judgment has been added to my file with both Chase and American Express on it. If they at this point were going to sue would they now bother with offering me something? Anyone?
        Oh yes.
        I have been served 4 months ago. Have not responded and they keep sending me letters offering settlements, because they know that by filing for summary judgment they will get nothing anyway....

        Comment

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