Sometimes Chapter 13 debtors need or want to convert their bankruptcy case from a Chapter 13 to a Chapter 7 bankruptcy. And sometimes the bankruptcy court will force you to convert from Chapter 13 to Chapter 7 - this is often called a "forced conversion."
The reasons for conversions vary. For the most part, if you are instigating the conversion, you have a right to convert your case. But that doesn't always mean you'll qualify for Chapter 7 relief.
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
It should rotate off of your credit report about 7 years after being discharged. It cannot be removed.
The bankruptcy is not discharged, the debts are. A creditor can be added if the plan is not too far along or if you have the excess income to pay whatever the creditors are being paid (percent of debt) for the balance of the plan. If it is a post-filing debt, it cannot be added.
Yes! The only thing is the chapter 13 will have to be discharged at closing. Depending on how long she has been in the bankruptcy, this may not be a big hassle. It is impossible to refinance a home in a chapter 13 without the BK being discharged. For more information, please feel free to email me at Travis.Fleury@gmail.com. I work for one of the largest direct private mortgage lenders in the country, i'd be glad to help answer any other questions.
A CHAPTER 7 BANKRUPTCY TAKES 10 YEARS BEFORE THIS IS REMOVED OFF OF YOUR CREDIT REPORT. THE GOOD NEWS THIS DOES NOT AFFECT YOUR CREDIT ANY LONGER! *********************I filed Chapter 7 in 2003 and depending on what your state court's definition of "dismissed" is it CAN affect your credit. For instance, some courts definition of "dismissed" is the same as "discharged." In Ohio it is "discharged" and I no longer owe any debt, however it DID IN FACT AFFECT MY CREDIT. I can NO LONGER get any. I received denial letters stating the reason for being denied, "Bankruptcy." So do your homework according to your state.
Never
KEYWORD "DISCHARGED"
not at the same time, and you'll have to wait a certain period of time after being dismissed/discharged from one before filing the other.
You may be discharged from the military for any condition that prevents your ready deployment. You may also be discharged for not disclosing a previously known condition, and such cases you could be charged and court marshaled.
You could be discharged for arthritis. If the medical condition prevents you from being effective, you can receive a medical discharge. If it is bad enough, you could receive disability pay.
No. Dismissed is essentially incomplete - no resolution...discharged is completed and closed.
It should rotate off of your credit report about 7 years after being discharged. It cannot be removed.
The debt should be identified as being in bankruptcy or discharged in bankruptcy. It will remain on the list for 7 years. The bankruptcy will remain on the report for 10 years.
Yes. There could be a problem in being granted a Chapt 7. If the debtor(s) fulfilled the terms of the Chapt. 13, the court may feel they are able to do so again. Unless it can be proven they do not have the financial resources to meet the obligation of a 13.
The bankruptcy is not discharged, the debts are. A creditor can be added if the plan is not too far along or if you have the excess income to pay whatever the creditors are being paid (percent of debt) for the balance of the plan. If it is a post-filing debt, it cannot be added.
After being discharged from the hospital, she was able to return home to continue her recovery.
yes