Ch 7 to Ch 13 to Ch 7
I filed for Ch 7 in July, and just filed a Motion to Convert to a Ch 13 to save some assets that I was in danger of losing in the Ch 7.
I also filed an amendment to my income and expenses on my schedules, because right now my expenses are lower than when I filed, and I also have a little more money coming in. Not a huge difference, but I was able to squeeze out about $200 per month in disposable income.
In addition, I anticipate that when I am hired full-time (I'm a teacher right now working as a long-term substitute), my income will essentially double, bringing my disposable income to over $1,000 per month (assuming that I keep up the frugal lifestyle I am living currently).
Which, actually I just answered my own question. I was going to ask if I would be able to convert my Ch 13 back to a Ch 7 at a later date, since I am actually converting my original case, not filing a new one. But I just realized that in all likelihood, I will be making too much money. There is no way they will approve my Chapter 7, unless I wait until 2008, when my pension payments run out (inheritance). In that case, I may as well finish the Ch 13.
Okay, but let's say for some reason in a year or two I'm unable to work and no longer have the income coming in. Will they let me convert back to a Ch 7, even though I filed my original case within the previous eight years?
My other question is, in case my Motion to Convert is rejected, what happens to my original Chapter 7? I was actually due to be discharged, but the Trustee is in deliberation about my inherited pension, so my Ch 7 is still pending.
I also filed an amendment to my income and expenses on my schedules, because right now my expenses are lower than when I filed, and I also have a little more money coming in. Not a huge difference, but I was able to squeeze out about $200 per month in disposable income.
In addition, I anticipate that when I am hired full-time (I'm a teacher right now working as a long-term substitute), my income will essentially double, bringing my disposable income to over $1,000 per month (assuming that I keep up the frugal lifestyle I am living currently).
Which, actually I just answered my own question. I was going to ask if I would be able to convert my Ch 13 back to a Ch 7 at a later date, since I am actually converting my original case, not filing a new one. But I just realized that in all likelihood, I will be making too much money. There is no way they will approve my Chapter 7, unless I wait until 2008, when my pension payments run out (inheritance). In that case, I may as well finish the Ch 13.
Okay, but let's say for some reason in a year or two I'm unable to work and no longer have the income coming in. Will they let me convert back to a Ch 7, even though I filed my original case within the previous eight years?
My other question is, in case my Motion to Convert is rejected, what happens to my original Chapter 7? I was actually due to be discharged, but the Trustee is in deliberation about my inherited pension, so my Ch 7 is still pending.
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