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

In Washington, converting a bankruptcy case from a Chapter 7 to a Chapter 13 involves several steps. First, you must obtain permission from the bankruptcy court to convert your case. Generally, courts allow conversions if the debtor is unable to pay the debts within the three to five-year repayment plan of a Chapter 13, or if the debtor’s situation has changed since they filed the initial petition. Second, you must file a new petition with the court to convert your Chapter 7 case to a Chapter 13. This petition must include any changes in your income, debts, or expenses since your initial filing, as well as details about how you plan to repay your creditors. You must also submit a repayment plan detailing how you intend to pay back your creditors within a three to five-year period. Next, you must attend a meeting of creditors and answer questions about your conversion. This meeting is called a 341 meeting. After the meeting, the court may either approve or deny your request to convert your bankruptcy case. Finally, you must submit a budget and a Statement of Financial Affairs to the court. This statement must include information about your income, expenses, debts, and assets. Once the court has reviewed these documents, it will either approve or deny your conversion. In sum, converting a bankruptcy case from a Chapter 7 to a Chapter 13 requires obtaining permission from the court, filing a new petition, attending a 341 meeting, and submitting a budget and a Statement of Financial Affairs. If the court approves your conversion, you will then be able to make payments according to the repayment plan you submitted in your new petition.

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

Related FAQs

Related Blog Posts