In chpt 13 want to change to chpt 7

[mumof4]

Hi all, I am new to the board but over the past year have popped in here to read the posts & now have questions. I live in the state of VT & we have been in a chapter 13 for year...made all our payments on time through wage garnishments but now want to move to another state.

We have tried in vain to get a co to re-finance our house so we can do much needed repairs ( our home is 2 family, we live upstairs & tennants live downstairs) & this would allow us to stay in a chapter 13 and rent out both apts to keep paying the chapter 13 while we try to re-build our lives in another state. NO ONE CO WILL TOUCH US!!!!!!! so we cannot keep our home as there are to many repairs needing done & it would be impossible to leave it here & live somewhere else...also we have hardly any equity so that is NOT an option. So my question is how do you change your BK from a chapter 13 to a chapter 7 ...we will lose our home of we do this ( I am not worried about this anymore as we are moving anyway) so I want to know how long it takes to foreclose on a home because we do not leave till august 2007 but also do not want to be out on the street either with 4 kids in tow...has anyone got any advice? it would be very appreciated.

[SinkingFast]

Your original filing,............. Did you file Ch 13 under Old Law?? Before the New Law took effect on 10/17 last year??

[mumof4]

Hi ty for your reply ...we filed under the old laws...but there are new laws now

[BK'd-Betty]

If you filed under old law, old law applies to your conversion. You will not be under the new laws.

[mumof4]

I just wanted to add something onto my post....we have family here that could have helped us e.g. qualified roofers/carpenters not to mention the fact that some of them could have brought our house until we could have re-puchased it back off them and not one of them has offered ( and yes they were approached) to me this is so devastating ... we are in our late 40's so when a friend offered to buy us a house out of state to lease we have decided to go that route as getting a home/apt is ONE of the hardest things about relocating.

[mumof4]

ty for your reply...so under the old law what do we do now...how do you transfer from a chapter 13 to a 7....also I want to add if we had stayed in VT we would have stuck out our chapter 13 till the bitter end as it is my husband has $1,150 per month taken from him under the plan & I only get 2 pay checks a month so it is basically hardly a pot to piss in.

[SinkingFast]

Since your original filing was Old Law, then Old Law rules will govern your Conversion to Ch 7. You don't have to fool with the Means Test or any of that.

If you would have qualified to file Ch 7 before and elected to go Ch 13 to keep you house or other major asset, converting should be as simple as contacting your attny and paying the appropriate fees.

You'll have to attend another 341 Meeting about 4-6 weeks after you file. And you'll have the 60 day Objection period. But that's about all there is to converting. Unless you have a glitch, within 90-120 days, you should be discharged and free to move on with your life.

[mumof4]

wooohoo that's EXACTLY why we opted to go the chapter 13 route to keep our home from forclosure and being taken away from us. You just made my day...I will contact my lawyer & come back & let you know what happens.