Converting from Chapt. 13 to Chapter 7 - What to expect and new 341 mtg?

[TShoot]

We are going to try to convert form a Chapt. 13 to a Chapt. 7. My wife is going to be quitting her job due to health reasons and has already submitted her resignation to her employer. She has a few commission checks due to her after her official last day and, after they clear, we are going for file for the conversion. We are also surrendering our house and hope to rent something much cheaper and downsize. Trying to simplify our life.

My income alone is higher than the medium cutoff for Chapt. 7 but, without her income, we cannot meet the Chapt. 13 payment plan and our mortgage. My lawyer says we have about a 75% chance of a successful conversion.

Wondering how many people have been in similar situations on the forum, what their experience has been and what can I expect at the new 341 meeting? We aren't going to be filing until the end of the month.

Any insight would be greatly appreciated.

Thanks!

[bondyang1224]

hi hows the 341 meeting goes??were on the same boat , though we we havent file the ch 7 yet, were 1 1/2 yrs on ch 13 , stikk finding the right lawyer to do so because the one hadling our present case doesnt want to do anything..goodluck..

[Donna123]

We are in the process of converting, however we have not filed the petition yet, we have to submit 6 months of paystubs, pass the means test & now completing a schedule J. Nothing has been submitted yet too early for me to give any advice. Had to pay extra money to process the convert from ch 13 to ch 7. We are planning to surrender our house, I plan to update our situation, once I have filed.
Donna 123

[TShoot]

My lawyer told me we didn't have to file a means test again. Guess we'll see. He did say we will have to fill out new I&J paperwork. We should be filing at the end of this month - wife has been out of work now for about a month. Stopped paying on the mortgage a month ago since we plan to surrender the house and find a rental after this is all said and done.

[Donna123]

I just wanted to say hang in there. I plan to detail my experience. I am back at work, haven't finish my schedule J. I didn't want to seem as though I am being short with my answers. My sister got married last weekend so I am behind the 8 ball so to speak & dealing with some end of the month deadlines for the job. So I fully intend to help & relate our experiences going thru the conversion to the ch 7.
Frazzled Donna123

[TShoot]

Ditto. I'll let everybody know how it goes here also. Once we finally file next week.

[Donna123]

Just checking in,
We turned in our paperwork, waiting to hear back from the attorney.
Donna123

[TShoot]

Hi Donna123,

Are you under or over the medium income for Chapt. 7 (if you don't mind me asking)?. We will be over the medium income when we file next week.

[Donna123]

Under the median about a grand for two people.
Donna 123

[TShoot]

You will probably have an easier time converting than me. I'm over the median by over $20K for 5 people. We'll see - fingers crossed. Best of luck to you.

[Donna123]

Thanks, once I have more info I will update, we should hear back from the attorney next week.
Donna 123

[TShoot]

Just filed today to convert from Chap. 13 to 7. Will keep everyone in the loop with what is happening. Wish me luck! Have a great weekend all.

[Donna123]

That's great, we are still waiting for the papers to sign & file for the conversion. I will keep you updated as well.
Donna123

[TShoot]

Got confirmation letter in the mail from my attorney stating that we are converting from Chapt. 13 to Chapt. 7 and a copy was sent to Chapter 13 Trustee (she is just going to love that - not).

Also had to fill out 3 page document of what we were surrendering - the house (1st and 2nd mortgage companies were listed) and what we were reaffirming - both car loans (both from same credit union). Signed and scanned them back to the attorney. We will see what is next.

[Donna123]

Sounds like your attorney is on the ball. Still waiting to come in & sign the paperwork to convert to a ch 7. We will be contacting the attorney tomorrow. Not a happy camper.
Donna 123