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

In Virginia, you can convert your Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy if you meet certain requirements set forth by the Bankruptcy Code. To begin the conversion process, you will need to file a motion to convert your current case. You can find a practice packet online that contains all the necessary forms for filing this motion. Once the motion is filed, a hearing must be scheduled to review your motion. The judge will consider your financial situation and listen to any objections that your creditors may have. If the judge approves your motion, they will issue an order to convert your case to Chapter 7. This typically happens after you have made all the payments required by your Chapter 13 plan. Once the order is issued, your trustee will then collect all of your assets and proceeds and distribute them among your creditors. If you are in the middle of your Chapter 13 plan and are unable to make the payments, you may be able to obtain a hardship discharge in some cases. This type of discharge allows you to have your debts eliminated without completing your Chapter 13 plan. Once you are in Chapter 7, you will no longer need to make payments on secured or unsecured debt. Your assets can be liquidated to satisfy your creditors and your debts discharged. This process usually takes several months and you will need to attend a meeting of creditors as part of the process. By following the proper steps in Virginia, you can convert your Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy. In either case, it is important to speak to an experienced bankruptcy attorney who can advise you on the best way to proceed.

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