QUESTION

How long will it take to convert a chapter 13 to a chapter 11 bankruptcy?

Asked on Oct 18th, 2013 on Bankruptcy - California
More details to this question:
I had a Chapter 13 case in the Northern California Bankruptcy court that was ready for confirmation. Due to my income being below California mean, plan was set to be approved for 36 months. I have already paid out about 14 months of monthly payments during the long confirmation process. Recently, damages were determined from a lawsuit that the chapter 13 judge was waiting for prior to approval of my chapter 13 and the final damages from this lawsuit now make my unsecured debt exceeds the Chapter 13 limit and that court now requires me to convert my case. I am converting to a personal chapter 11. In a personal chapter 11 bankruptcy where my income is below the California mean, will my reorganization time line before plan payments be approved for 36 months just like in the chapter 13? Does this work the same as a chapter 13 or is there a longer required time line of 60 months? Also, under what conditions could I get an immediate discharge? I had read that there are certain conditions where an immediate discharge is possible. In a corporate chapter 11, I understand the immediate discharge is standard, but I understand that in a personal chapter 11, it is not always the case. Final question, I have been making payments towards my plan for over 14 months since my Chapter 13 started. If it is now converted to a chapter 11, will my starting date of my plan (whether 36 or 60 months) be the date that my chapter 13 started or will this all start over. Will the money that has already been paid transfer into this new plan?
Report Abuse

2 ANSWERS

Chapter 11'a are more complex and involved than chapter 13 and I recommend you engage bankruptcy counsel to assist you as there are too many factors and inadequate information provided.
Answered on Oct 22nd, 2013 at 6:13 AM

Report Abuse
Bankruptcy Attorney serving Oakland, CA at Elkington Law
Update Your Profile
My first question to you is, do you have an attorney? If you don't, you need one, immediately. There are several things in your scenario that don't make sense. If there was no judgment at the filing of the bankruptcy, why did a Judge allow the case to proceed? There are just too many questions that I would have for you before I would be able to give you sound advice. Get an attorney, or if you have an attorney, you might get a second opinion, but the attorney will need more information than you were able to post.
Answered on Oct 21st, 2013 at 1:59 PM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters