- Free Consultation: (202) 448-5136 Tap Here To Call Us
Bankruptcy Conversion from Chapter 13 to Chapter 7
If you qualify for Chapter 7 bankruptcy, then you are legally entitled to a bankruptcy discharge of all eligible debts. On the other hand, in Chapter 13 bankruptcy, you propose to repay some pre-arranged portion of your debt. Under certain circumstances, conversion from Chapter 13 to Chapter 7 is appropriate.
Conversion from Chapter 13 to Chapter 7
In a Chapter 13, any back taxes, child support, and other specific types of debt are typically paid in full. Payments on unsecured debts (like credit cards, personal loans, medical bills, etc.) have a lesser priority by law. A Chapter 13 case will last between three to five years. Nothing prevents you, however, from completing your Chapter 13 early, or from terminating the bankruptcy at your discretion.
If you begin in Chapter 13 then suffer loss of income, you may be able to “convert” your case. If you wind up finding your repayment schedule impossible, conversion from Chapter 13 may be appropriate. Whether conversion to Chapter 7 is possible will depend upon your individual financial circumstances. Moreover, you will have to overcome any “bad faith” objections to your conversion by the bankruptcy trustees assigned to your case. Seek out expert analysis of your chances of success in a Chapter 7 conversion.
Know your options
Make sure you thoroughly understand your options before filing for bankruptcy or attempting a conversion from Chapter 13 to Chapter 7. An experienced bankruptcy attorney will be able to advise you of your options and prepare a solution appropriate to your unique circumstances. Consult a bankruptcy lawyer in DC by calling (202) 448-5136. We are a debt relief agency. We help people file for bankruptcy protection under the Bankruptcy Code. If you live in Virginia, Maryland or D.C., give us a call today.
They Called. They're Glad They Did.
Brian Lee from Lee Legal was an amazing attorney to work with. He took his time, reviewed my documents and we discussed my situation thoroughly. He explained the process and my options as well as gave his recommendation. Not only did he assist, but he ensured that I knew this...
I was very nervous and scared about going through this process. But Brian was very knowledgeable and helped me through it. I was notified about any and all updates to my case and he was very responsive when I had questions regarding any concerns I had. Although a bit nerve...
Brian provided me with a very detailed analysis about my potential case after our first consultation. He promptly responded to all my complex questions, especially navigating student loans and some tax discussions. He is very professional and experienced at what he does, I would...
I've had the pleasure of working alongside Brian V. Lee for several years, and I can say without hesitation that he is one of the most knowledgeable bankruptcy attorneys in the DMV area. Brian's command of Chapter 7, 11, and 13 practice is exceptional, and his clients in the DC...
Brian has the amazing talent of taking complicated legal matters and distilling them down to seamless, frictionless resolutions. He is a phenomenal problem solver and a trusted advisor.
Brian is both warm and professional. He helped me navigate a financial issue that I had not been looking forward to working on and he made the entire experience non-stressful, receiving a lot of anxiety I had around the matter. He is straight forward and a fantastic problem...
I had the opportunity to work with Brian at a time when I was challenged by a professional setback and forced with the challenge of making some very difficult legal decisions. Additionally, I worked with him again as I was dealing with some financial issues pertaining to my...
Still several years from Public Service Student Loan Forgiveness and saddled with significant student loan payments in proportion to my income, I came to Lee Legal to explore the bankruptcy path. Through his counsel, Brian took the fear out of the process and helped me to...
