Legal Question in Bankruptcy in Virginia

Convert chpt 13 to chpt 7

I have been in my chapter 13 for 3 years now and still have one more year to go. Can I convert to a chapter 7? If so what is the process, how long and is it worth doing? (I live in the state of VA)


Asked on 12/04/06, 6:56 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Convert chpt 13 to chpt 7

You convert by filing a motion to convert. You then file new schedules showing any newly acquired assets and liabilities, and go through a Chap. 7 341 meeting. Any non-exempt property gets liquidated by the trustee. You then (unless there is an objection) receive a discharge, although there are debts that may be dischargeable in the 13 that are not dischargeable in a 7. Before you do this, you should consult with an experienced bankruptcy lawyer, as the consequences could be severe.

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Answered on 12/04/06, 9:26 pm


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