How do I convert my Chapter 13 Bankruptcy to Chapter 7 Bankruptcy?

If you have filed for Chapter 13 bankruptcy in California and you want to convert it to a Chapter 7 bankruptcy filing, it is important to understand the process involved. The first step is to contact the bankruptcy court in California and request a motion to convert your Chapter 13 case into a Chapter 7 case. If an amended plan has not been filed yet, then you must also file a motion to abandon the existing plan. The court will review the motion and decide whether to grant it. If the court approves the motion, you must then file your new Chapter 7 paperwork and submit it to the court for approval. This new paperwork will include a new statement of financial affairs, list of creditors, and a list of all assets and liabilities. Once the Chapter 7 filing has been approved, the court will begin liquidating your assets and using the proceeds to pay off your creditors. After the creditors have been paid off, the remaining debt will be discharged and you will no longer be responsible for it. It is important to remember that this process can be complicated and take some time. You may also need to attend court hearings or meet with creditors, so it is important to be prepared for all aspects of the process. Consulting with a bankruptcy attorney can be very helpful in this process.

Related FAQs

How do I convert my Chapter 13 Bankruptcy to Chapter 7 Bankruptcy?

Related FAQs

Related Blog Posts