QUESTION
If I convert from a 13 to a 7, does that still give me about a month before the creditors meeting?
Asked on Jan 18th, 2013 on Bankruptcy - Delaware
More details to this question:
If I file a chapter 13, which should stop the sale of the home, when would I expect to go to court?
8 ANSWERS
If you file a 13 you should have between 4-8 weeks before your 341 hearing. A creditor may move to lift the stay which could be heard before then. Converting an existing 13 to a 7 will give you more time as the new trustee must prepare to conduct his 341.
Answered on Jan 28th, 2013 at 7:11 PM
William Rhymer
The answer to the first question is yes. The second question presumes you are not in a case. A timely filed Chapter 13 or Chapter 7 will stop a foreclosure proceeding. However, a Chapter 7 would only temporarily stop it. A successful chapter 13 would stop it permanently if you follow the plan and make all of your payments.
Answered on Jan 24th, 2013 at 1:42 AM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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A 7 will not save your home. While you will get 30 days before the 341 meeting in court, the mortgage company can motion the court to lift the automatic stay in your case if you are behind.
Answered on Jan 22nd, 2013 at 9:06 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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The meeting of creditors is usually about 30 days after the filing of the Bankruptcy petition.
Answered on Jan 22nd, 2013 at 9:06 PM
Converting will change nothing if the mortgage company has an order lifting the bankruptcy stay. The time between the date the court signs the order to convert to a Chapter 7 until the creditors meeting is about one month.
Answered on Jan 22nd, 2013 at 9:05 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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Creditors meeting is usually about 3 weeks after you file. If you file a Chapter 13 it will stop a sheriff's sale, however, if you do not have the means to pay the arrears and keep your mortgage payments current, your lender can file for relief from stay to proceed to foreclosure.
Answered on Jan 22nd, 2013 at 9:04 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Make sure to talk to your bankruptcy attorney. There several things that must be done when converting a case from 13 to 7. If you do not have an attorney then I really recommend that you find a good one or seek advice from one of the volunteer centers. My best to you.
Answered on Jan 22nd, 2013 at 9:04 PM
Bankruptcy Attorney serving Buford, GA
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Kenneth A. Parker, PC
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If you are currently in a Chapter 13 and convert to a Chapter 7, your 341 meeting will be in about a month. HOWEVER, if you are currently in a Chapter 13 and the Creditor has obtained an Order Lifting the Automatic Stay, converting your case to a Chapter 7 will have no effect on the foreclosure.
Answered on Jan 22nd, 2013 at 9:04 PM