QUESTION

Can I convert from a Chapter 7 to a Chapter 13

Asked on Oct 25th, 2012 on Bankruptcy - Arizona
More details to this question:
Can I convert from a Chapter 7 to a Chapter 13 if I find I can come up with a payment plan to keep the home that is in foreclosure?
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11 ANSWERS

Bankruptcy Attorney serving Alpena, MI at Carl C. Silver Attorney at Law
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Yes.
Answered on May 21st, 2013 at 1:41 AM

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Bankruptcy Law Attorney serving Austin, TX at Law Office of Susan G. Taylor
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Yes.
Answered on May 21st, 2013 at 1:30 AM

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Bankruptcy Chapter 7 Attorney serving San Diego, CA at Law Office of Asaph Abrams
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You can convert from chapter 7- to chapter 13 bankruptcy (see section 706 of the bankruptcy code for details) if you're otherwise eligible for chapter 13 bankruptcy (and if circumstances merit the conversion). Here's a snippet from our San Diego bankruptcy website: Who Can File Chapter 13 Bankruptcy: Persons can file for chapter 13 bankruptcy, but corporations and business entities cannot. If unmarried, you must file for bankruptcy alone. If you are married, you can file a bankruptcy petition with or without your spouse. If you previously received a discharge from a Chapter 7 Bankruptcy filed within the last 4 years, then you can file a chapter 13 without delay, but you won't get a discharge. This means you'd only get dollar-for-dollar credit (rather than penny-on-the-dollar credit). If you previously received a discharge from a chapter 13 bankruptcy filed within the last 2 years, then you can file a chapter 13 without delay, but you won't get a discharge. This means you'd only get dollar-for-dollar credit (rather than penny-on-the-dollar credit). In order to qualify for chapter 13 bankruptcy, your secured debt (like mortgages and car loans) must fall short of $1,081,400. Your unsecured debt [like credit cards, medical debt, and "unsecured" second mortgages (where the first mortgage's payoff is higher than the home value) must fall short of $360,475.
Answered on Nov 08th, 2012 at 3:58 AM

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Bankruptcy Attorney serving Hampton, VA at Haven Law Group, P.C.
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Yes, you will have to file a motion for a voluntary conversion.
Answered on Oct 31st, 2012 at 5:17 AM

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Bankruptcy Attorney serving Myrtle Beach, SC at Law Office of Margaret L. Evans, PC
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Yes, provided, however, that you have the disposable monthly income to support a confirmable plan
Answered on Oct 28th, 2012 at 3:52 AM

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Bankruptcy Attorney serving Livonia, MI at Charles J. Schneider, P.C.
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Yes if you qualify and if it is in your best and meets your goals.
Answered on Oct 27th, 2012 at 9:27 AM

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Bankruptcy Attorney serving Las Vegas, NV at A Fresh Start
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Yes, you can convert to Chapter 13 but whether your chapter 13 will go through or not can be problematic. I would urge you to carefully discuss this decision with your bankruptcy attorney as there may be a better option for you than converting.
Answered on Oct 27th, 2012 at 9:27 AM

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Family Law Attorney serving Provo, UT at Havens Law, LLC
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You can covert from a Chapter 7 to a Chapter 13 with the permission of the court. They will generally allow this as long as there is a reason for conversion and no bad faith involved. A valid reason for conversion includes to stop a vehicle repossession or a foreclosure. Once you convert some of your debts will be treated differently.
Answered on Oct 27th, 2012 at 9:26 AM

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Daniel James Wilson
You can probably convert. Its complicated and you will need a lawyer. Let me make a few comments about trying to save a home. Since you filed a Ch 7 you probably have not been paying your mortgage. Its quite probable you were behind in your mortgage when you filed. Do you have any equity in the house? How much will it cost you to make up the arrears? If you have no equity to save, does it make economic sense? Would you be better off staying in the house, rent free, until the foreclosure sale, renting for a few years, and buying again (if it made sense) in a few years. You have to think with your head, not your heart.
Answered on Oct 27th, 2012 at 9:26 AM

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Bankruptcy Law Attorney serving Livingston, NJ
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Yes, you should talk to your attorney.
Answered on Oct 26th, 2012 at 9:20 PM

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Bankruptcy Attorney serving Phoenix, AZ at Law Office of D. L. Drain, P.A.
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Possibly, but it is very important to talk your chapter 13 attorney first. If you do not have one, then seek advice from one, or use the Self-Help Center at the Bankruptcy court. My best to you.
Answered on Oct 26th, 2012 at 9:20 PM

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