Converting from Chapter 7 to Chapter 13

Guest 0.10 Dollars($)

I had filed for chapter 7, its been quite some time now and waiting for the final discharge. The case is pending in court. A friend suggested converting to chapter 13. is it possible?

Guest 0.10 Dollars($)

Hi Abel,

A pending Chapter 7 bankruptcy can be converted to Chapter 13 if there is any abuse of the procedures for the previous type. The debtor may not be able to satisfy the Means Test wherein his current monthly income (CMI) is expected to go beyond $100 on a monthly basis throughout a time period of 5 years.

thanks

Guest 0.10 Dollars($)

What if I can't complete chapter 13 payments. It's not that I cannot, just trying to get more info before I set out for the conversion?

colin · Posted: Mon Jul 03, 2006 12:41 am Post subject: RE:

Hi,

You will have the probable options if you fail to make the chapter 13 payments.

Dismiss the chapter 13 case.
If you are not able to pay on account of circumstances for which you are not responsible, the court may allow you to close the case and obtain a partial discharge.

In general, debtors can convert to a chapter 7 bankruptcy if they fail to make up for Chapter 13 payments. Since you have initially filed chapter 7, so in your case, only the above options can tried out.

Know more about Chapter 13 from an article at http://www.mortgagefit.com/bankruptcy/chapter13.html

Thanks

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