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If you are behind on your home mortgage, and you want to keep your home; or if you owe back tax to the IRS, then chapter 13 would probably serve you better. However, it is more complicated, and each month you must pay your disposable income toward a debt adjustment plan. If you just want to get a discharge from all debt, and you don't mind losing any property that serves as collateral for a debt, or if you are current on debt secured by property you want to keep, AND you have a lot of other unsecured debt that you need discharged, then chapter 7 would probably better serve your purpose. Whether one is worse than the other depends on your goals, and on whether you are the debtor (you owe the money) or are a creditor (you want to collect a debt).
What else can I help you with?
Can a chapter 7 be filed with an open chapter 13?
A Chapter 7 can be filed with an open Chapter 13.
If someone files chapter 13 in 2004 can chapter 7 now be filed?
if you filed chapter 13 and it was discharged in 2005 can you file chapter 7 in 2009
Can you go from ch 13 to ch 7?
Yes, you can covert a chapter 13 to a chapter 7 and vice versa.
If you filed a Chapter 13 in 1998 and converted to a Chapter 7 in 1999 in what year are you eligible to refile a Chapter 7?
6 Years from the date of filing of the Chapter 13. (Only because it was converted).
Can you file chapter 13 bankruptcy after you have filed a chapter 7 in Indiana?
A chapter 13 bankruptcy can be filed if it has been at least 4 years from the date of the discharge of a chapter 7. Nonsense. You can file a chapter 13 the day after the 7 is closed. You may not be eligible for a discharge, but the point of doing a "chapter 20" is usually to dump the unsecured debt in the 7 and use the 13 to get caught up on the mortgage, for which no discharge is necessary.
Could you change your chapter 7 to chapter 13 after being discharged?
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.
Can you file again if you filed in may 2005 on chapter 7?
You can file a chapter 13 bk, but NOT another chapter 7.
How long does a dismissed chapter 13 bankruptcy stay on your credit file?
A Chapter 13, whether it is dismissed or successfully receives discharge, is on your credit report for 7 years. A chapter 7 is on your credit report for 10 years. i called equifax and a discharged chapter 13 stays on for 7 years and a dismissed chapter 13 stays on for 10 years
Can you file chapter 7 before chapter 13 is discharged?
No, you can't have two separate bankruptcies at once. If you are under a chapter 13, and are no longer able to make your plan payments, then you can convert your case from a 13 to a 7.
What is the process of converting chapter 13 to chapter7 We are in chapter 13 and it looks like with layoff we have to go to chapter 7 and lose the house. What do we do?
You file a motion to convert to chapter 7. If you are eligible, then the court should grant it.
Which bankruptcy is for a home?
You can file either Chapter 7 or Chapter 13 as a homeowner. If you are trying to save the home from foreclosure, then Chapter 13 would be the proper chapter.
Chapter 13 refinancing mortgage with 700 credit score your interest would be 7 percent can you get better than this?
There are many companies that do Chapter 13 refinancing and there are many factors that might impact your ability to better (or worse) than 7%. Important factors would include income, expenses and debt to equity ratio. Just do a Google search for the phrase "chapter 13 refinance" and you see plenty of places where where you can shop around.
