Search Site
Menu
307 West Rio Road | Charlottesville, Virginia 22901
Call For Consultation 434-973-7474

Reasons to Convert from Chapter 13 Bankruptcy to Chapter 7 Bankruptcy

Although most people only have to file for bankruptcy once, sometimes people who originally file for Chapter 13 need or want to convert to Chapter 7 bankruptcy. There are also certain situations where the court will force a debtor to switch to Chapter 7.

You can convert from Chapter 13 to Chapter 7 at any time, as long as you have not received a Chapter 7 discharge within the previous eight years. The most common reasons why someone would convert include:

  • Loss of employment
  • Divorce or separation
  • Inability to make mortgage payments
  • Suffering from an illness and high medical bills

If you choose to convert to Chapter 7, you must pass the means test to demonstrate that you truly cannot afford to pay back your debts.

There are some situations where the court may force you to convert to Chapter 7:

  • Failure to file a Chapter 13 plan on time
  • Failure to make a Chapter 13 payment
  • Unreasonable delay in payment that causes harm to your creditors

By converting to Chapter 7 and liquidating your assets, you may be able to resolve your debt problems more quickly than with Chapter 13.

Not being able to afford the payments in your Chapter 13 repayment plan might mean that it is time for you to convert to Chapter 7 bankruptcy. An experienced Charlottesville bankruptcy attorney can help you determine what type of bankruptcy is right for you.

Leave a Reply

Your email address will not be published. Required fields are marked *

See Our Videos
  • Charlottesville Personal Injury Attorney - It Is About the Money

  • Charlottesville Divorce Attorney - What To Expect During Your First Family Law Consultation

  • Protect yourself during Move-In or Move-Out of an Apartment

  • How do I find a good personal injury attorney?

  • Charlottesville Estate Planning Talk

  • Charlottesville Personal Injury - What Is My Case Worth?

Meet Our Attorneys
Testimonials
  • ""Bill Tucker and his team were the answer to my real estate prayers! After being transferred to another state .."" - Short Sales

  • ""Yvonne Griffin represented me in an accident case that required many months of hands on attention .."" - Personal Injury

  • ""Ms. Barnes, I cannot thank you and your staff enough for taking my case at was a very dark time for me .."" - Social Security Disability

  • ""Lynn Bradley has been a force that has proven to be competent, professional and exceled at her work .."" - Worker's Compensation

  • ""Ms. Hakes, Thank you so much. You don't know what a wonderful gift you just gave to me, my son's .."" - Criminal Defense

  • ""When you first interview Laura Butler, it is apparent you are in the presence of a true professional in all .."" - Family Law

  • ""Mr. Tucker, I cannot thank you enough for all your work. I wish everyone had your work ethic and attention .."" - Real Estate

Firm Awards & Recognition
Contact us

Main Contact Form