How to convert your bankruptcy from a chapter 7 to chapter 13

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Look into finding a great bankruptcy lawyer.  You may already have one, since you already filed a Chapter 7.  Make sure it’s a good detailed lawyer.  There are lots of laws involved in this process that only a bankruptcy lawyer might think of.  Don’t try to do it on your own.  Checking out the limits for your secured and unsecured levels is a must to move forward with your conversion.

Your lawyer will have you file a petition to the court.  In most cases it might be necessary that you first dismiss the Chapter 7 and then re-file under a Chapter 13.  This is something you will want to discuss with your lawyer.  If your income levels have changed from your Chapter 7 till now, you’ll want to have the Chapter 7 dismissed and restart the 13.

You will submit a repayment plan.  Your lawyer will help you go through this.  Make sure your repayment plan fits your budget.  You don’t want to tie yourself.  You will be right back into the situation you were already in and you don’t want to do that to yourself.  This must be done within 15 days after you receive the approval for the conversion.

Then thirty days from the time you received the approval you will need to begin making payments for the Chapter 13 plan.

It’s not tough to convert your bankruptcy.  Everyone has their own personal reasons why they want to convert, so now you know it’s possible.  Now you can take it further and convert your own bankruptcy by talking to your lawyer.  Good luck!

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