Posted on: 04th Dec, 2011 08:14 am
we need help. My husband is 86 and I am 57. We are currently in a chapter 13 but we can no longer afford the upkeep of our home and pay our bills. We are cash poor and have no assets. I can't buy food or medication this week. I want to know if we give up the house would that put us under the means test if we are over for converting to chapter 7?
You have the right to converting a bankruptcy from Chapter 13 to Chapter 7. In case you are facing difficulty in making payments, you can opt for this. However, you have to go through the means test. Information on your income, debts and expenses will be used to determine whether or not you meet the means test.