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Has Debt Taken
Over Your Life?

Can I Switch a Chapter 13 Bankruptcy to a Chapter 7?-

You may have been awarded a bankruptcy under Chapter 13. This means a payment plan was devised for you that had to be adhered to. Your financial situation may have changed or gotten worse and you can no longer comply with the bankruptcy agreement. So what happens now? Are you able to transition over to a Chapter 7, which is quite different than the Chapter 13?

Chapter Considerations

Another reason you may be eligible to switch over is because you want to give up a property that was included in your Chapter 13, like a vehicle or house perhaps. You are going to want to have a bankruptcy lawyer you assist you with the application to switch. There could be some confusion as to the Means Test for the Chapter 7 bankruptcy will be applicable. Before you make any moves regarding the switching of your bankruptcy be sure to talk to legal counsel about this. No matter what you are going to have to present a valid reason as to why you can no longer follow through with you Chapter 13 obligations.

Once the switch has been approved you will have to go through the process of the Chapter 7 criteria of the creditors meeting. There will be additional forms that have to be filled out, and your Louisville bankruptcy lawyer can help you throughout the process.

Bankruptcy laws vary from State to State so don’t just assume that what is applicable in one is also applicable in another.

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