QUESTION
If our expenses became higher while on chapter 13, can we then file for chapter 7?
Asked on Mar 05th, 2013 on Bankruptcy - Arizona
More details to this question:
My husband and I just filed chapter 13 because our income was too high for chapter 7. We are expecting our second child and with that come more expenses. Can we file for chapter 7 once the baby is born?
7 ANSWERS
You can convert a chapter 13 to a chapter 7 when or if your expenses get higher or if your income lowers. Once your child is born you may qualify for a chapter 7 since your family size and income will be different.
Answered on Mar 18th, 2013 at 1:58 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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You may be able to revert to a Chapter 7.
Answered on Mar 06th, 2013 at 1:27 PM
Deborah F. Bowinski
You should discuss your changed situation with your attorney. It may be possible to modify your plan or to convert your case to a chapter 7. If you do not have an attorney you should hire one now.
Answered on Mar 06th, 2013 at 1:26 PM
2 Awards
Yes, if your finances change making it impossible for you to continue your payments you may be eligible for a chapter 7 bankruptcy. You would file a notice of conversion along with amended schedules I, if applicable, and j.
Answered on Mar 06th, 2013 at 1:26 PM
You may have the choice to either dismiss your Chapter 13 and refile by paying another filing fee or converting to Chapter 7 and paying a $25 fee. You will need to discuss the qualifications for either with your own attorney. Of course, should you dismiss or convert, the goals you planned to attain in your Chapter 13 will be toast.
Answered on Mar 06th, 2013 at 1:26 PM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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Possibly. Conversion from Chapter 13 to Chapter 7 is a possibility when you have a change in circumstances. You should talk to an attorney because the change from one Chapter to another may impact some of your debts included in the 13 (e.g., mortgage arrears, car loan). Also, you need to otherwise qualify for a Chapter 7. If you don't qualify for a 7 now, you may be able to adjust your Chapter 13 payment based on your new situation. Congratulations on the baby!
Answered on Mar 06th, 2013 at 1:25 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Talk to your bankruptcy attorney. You might qualify for a conversion to 7. This is a big step so make sure to get advice first.
Answered on Mar 06th, 2013 at 1:25 PM