Should I even file Chapter 7

[bankruptcyme]

I thought it is never a smart thing to file a chapter 7

So under what circumstances should one file a 7?

Or file a chapter 13 and then let them convert to a 7?

If you have houses under foreclosure, do you file a 7?

Can a chapter 7 have the automatic stay power as a 13; to stop foreclosure?

[nc73]

It would depend on your particular circumstances...

[bankruptcyme]

I have 3 houses underwater and are in foreclosures
I have a job
I have $40,000 in credit card debts

[bankruptcyme]

so what are the ideal situation to file a chapter 7, or one should never file a 7 unless forced to by the trustee

[keepmine]

You file the chapter of bk that you qualify for. If you have disposable income that will allow you to fund a 13 or, have assets you wish to keep that have equity above what your state exempts then, you're looking at a 13.
Why do you think you should never file a 7?

[bankruptcyme]

Help! what situation is good to file a 7

I thought we all fight hard not to be converted to a 7.
I think if you want to keep your house, you never file a 7.
If you want to liquidate, let everybody sue you and let all things go??

[blockhead]

Keeping house and Chapter 7

If you're up to date with the mortgage payment and you can exempt your equity (if any) in your home, you won't lose your house in a Chapter 7.

[NHC]

Help! what situation is good to file a 7?

** I was a good Chapter 7 and qualified for it on the Means Test...medical debts mostly, a few scattered unsecured debts, no real property, upside down in a car loan....I basically wiped everything and have a fresh start......



If you want to liquidate, let everybody sue you and let all things go??

**The problem with 'letting everybody sue you' is that they all get to line up for garnishments once they get the judgements....