Any successful ch13 to conversion?

[maddog2112]

Has anyone successfully converted from 13 to 7 successfully with house and car? Were you able to keep the house and car?

[aces67]

We are going through one right now. Our 341 is scheduled for Friday. We are getting to keep my car and our home. We are letting dh's truck go back. The lawyer said we could keep it if we wanted but we don't want the extra note.

We are converting due to a drop in dh's hours and income. I hope it will all go through with no problems.

[maddog2112]

How long did you have to wait after the change in income to get the process going with your attorney? Does that change the filing date of the bk, or does the date remain when you initially filed the 13? Thanks for the info.

[aces67]

It's sort of confusing actually. All my paperwork shows my original filing date of 3/1/07. Apparently when you convert you are just changing the terms of the original filing.

Anyway for us dh's income started dropping in January. His employer told us then that there was only a slim, very slim chance that that would change. February was even lower. March was even lower than that. April we freaked out and told our lawyer something had to give. He ran the numbers and at that point we were below median so he converted it for us.

The only thing I'm still confused about it since the filing date remained the same I'm not sure if it will go on our credit once or twice.

[maddog2112]

I`m in a very similar situation, except we are above the median, however after mortgage, equity, and allowable expenses we won`t have any leftover money to pay the trustee.I don`t want to go 2.5 more years paying a few bucks to the trustee, I`d rather just convert if possible and be done with this nightmare. Thanks for your info.

[aces67]

Have you talked to your attorney yet? The way I understood it was if you are above median but have no disposable income and can show a loss of income then you are still eligible to convert.

Good Luck!

[maddog2112]

Thanks aces, I`ve shot my attorney an email and am waiting response.