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Answered 2014-11-23 18:40:53

Yes converting a Chapter 13 to a 7 will further lower your credit score. It will show up on the public records section at the begining of the credit report. Once as an terminated chapter 13 and a second public record showing the filing of the Chapter 7. Each public record reduces your score.

You can potentially be discharged from a Chapter 7 sooner and that's will be the time the clock will start ticking to eventually make it disappear from your credit report which I believe is 7 years for most derogatory entries

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Chapter 11 bankruptcy allows you to reorganize your debt so that you may pay it off. But it is not for everyone. You should contact a lawyer to see if you could even qualify for Chapter 11 bankruptcy.


Before the new bankrupcy laws took affect it was a fairly simple matter to conver from a "13" to a "7"; now it is extremely difficult to have such action approved by the bankruptcy court. The best options are to consult with the attorney who handled the BK or contact the chapter 13 trustee for assistance.


Yes, a Chapter 7 bankruptcy is a Chapter 7 bankruptcy. The exact details are irrelevant, it will remain on your credit report and prevent you from refiling for the same length of time either way.


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You can file bankruptcy together or individually when you are separated. What happens in your separation could affect your ability to file Chapter 7 and you may have to file Chapter 13 instead.


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I have file for Chapter 7 twice and it has had no effect on my car insurance.


No, unless you both filed a joint BK petition.


It will only affect the non-filing spouse if the couple apply for some type of joint credit, such as a home mortgage. It will not affect the new spouse's credit report/score.


Absolutely. Tremendously. A huge amount. For a long time. at least 10 years.


Maybe. A chapter 13 is a repayment plan and in some instances will not affect the terms of the lender and borrower contract.



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If our home is in foreclosure,and never reaffirmed the debt through chapter 7-how will it affect us getting a home?


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