I filed for a Chapter 13 in Sept of 2005 before the new bankruptcy laws took effect. Due to changes in circumstances, I am considering converting to Chapter 7. Will I have to fall under the new laws with the chapter 7 or will I be under the old laws due to my original filing date?
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First question, does it really matter? Even if you took the means test, would you be over your state's median income. When you adjust schedules I and J for your new circumstances, do you show a surplus or deficit of income?
Even under the old law, you still need to show less than $100 of surplus income on Schedule's I & J. Also, was there any particular asset you were trying to save in your chapter 13 (i.e. house, car)? -
That is just it, all my expenses are going to change. I have a baby on the way. I am waiting to talk to my lawyer and see how this is going to affect me and the means test.Comment
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I have read in the past that if you filed 13 under the old law that you would convert to 7 under the old law. So you lose all of the 6 month income lookback. So if you lose your job with an old law 13 you can convert to an old law 7. This is just what I have gleened from reading here. I dont know of anyone starting with an old law 13 then converting to an old law 7.
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