How do I convert my bankruptcy case from a Chapter 7 to a Chapter 13?

If you are in Oklahoma and you are trying to convert your bankruptcy case from a Chapter 7 to a Chapter 13, the process begins with filing a motion with the court to alter or amend the bankruptcy case. This motion is officially called a "Motion to Convert" and must be filed in the bankruptcy court in which you originally filed. The motion must explain why you wish to convert the case, and the court will look for valid reasons. For example, you may want to convert the case in order to catch up on non-dischargeable debts or to save collateral from being liquidated. It is important to note that when converting to a Chapter 13, you are obligated to follow the repayment plan established during the case. As part of this process, you must verify that you have completed the credit counseling class and all other requirements of the Chapter 13 bankruptcy. When the court approves the motion, a new case number is assigned and a Chapter 13 trustee will be assigned to your case. The trustee will review your financial information and payment plan and will also assist in the review of your creditors’ claims. You will also be required to submit a complete financial statement of all assets, liabilities, incomes and expenses, as well as a copy of your most recent tax return. After the trustee reviews the information, the Chapter 13 bankruptcy is finalized.

Related FAQs

Can I keep my car when filing for bankruptcy?
What is the difference between a bankruptcy trustee and a bankruptcy lawyer?
Can I file for bankruptcy to stop creditor harassment?
What kind of debt counseling is available before and after filing for bankruptcy?
Will I lose my property if I file for bankruptcy?
What is the difference between a discharge and a dismissal?
What is a reaffirmation agreement?
Can I still obtain a loan after filing for bankruptcy?
Are there any special provisions for filing for bankruptcy as a business?
What are the consequences of filing for bankruptcy?

Related Blog Posts

What is Bankruptcy Law? - July 31, 2023
What Are the Most Popular Types of Bankruptcy? - August 7, 2023
How to Choose the Right Bankruptcy Attorney for Your Case - August 14, 2023
Understand the Consequences of Not Filing for Bankruptcy - August 21, 2023
How to Avoid Bankruptcy With Financial Self-Management - August 28, 2023