Unless you have already received a Chapter 7 bankruptcy discharge within the last eight years, you can convert your Chapter 13 case to Chapter 7 at any time. You’ll file a Notice of Conversion with the court and pay a conversion fee.
How much does it cost to file Chapter 7 in Louisiana?
The cost for filing a Chapter 7 bankruptcy is $306. This fee may not be waived but you may be able to pay it in installments. The fee of $281 for a Chapter 13 bankruptcy cannot be waived. If you are filing a Chapter 13 bankruptcy, a proposed repayment plan must also be submitted.
What documents are needed for Chapter 7?
The documents filed for Chapter 7 can include the following information:
- Chapter 7 bankruptcy petition.
- List of assets and liabilities.
- List of creditors.
- Your current income and expenses.
- Pay stubs for 60 days before filing.
- Monthly net income.
- Disclosure of increases in income or expenses over the next year.
When to convert a Chapter 7 bankruptcy to a chapter 13 case?
For example, if you want to get rid of money owed as a result of a marital property settlement. Converting to Chapter 13 allows you to discharge more debts. It is relatively easy to convert your case in most courts. Many courts say that you are entitled to convert, even if one of your creditors or the trustee objects.
Can a bankruptcy court force you to convert?
When the Court Might Force You to Convert. The bankruptcy court can order you to convert your case to Chapter 7 for cause (the court has a reason to do so). However, it’s unlikely that the court will force the conversion if you are doing everything that you can in good faith.
Can a Chapter 7 discharge be converted to a chapter 13 discharge?
Individuals who have received a previous Chapter 7 discharge within the last 8 years will not be eligible to convert their case. Aside from being able to get a discharge, you will also need to show the court that you lack the necessary disposable income to pay your bills.
What happens to your property when you file Chapter 13?
When you filled out your Chapter 13 case, you listed your property on Schedule A/B. Property you still have when you convert your case, and that you can’t protect with a bankruptcy exemption, will be sold by the Chapter 7 trustee. The trustee will distribute the proceeds to your creditors. Many people file for Chapter 13 to retain property.
