Chapt 13 to 7

[car67]

I am a business owner in active 13 1.5 years old
Just had my plan modified to give me a temp reduction
in payment for 3 months to see if I can get my sales up.....

What can a guy expect to convert from 13 to a 7
Show past 6 months income tax returns ect?

Any advice or experiences would be nice to hear
thanks

[maddog2112]

do you own a home and or vehicles and will they be in jeopardy when you convert?

[car67]

Yes in my home current on mortgage no equity and now maybe $20,000 upside down with recent home slides but not worried love my home have right to home just no equity and we do have a state exemption of $25k ish?

[maddog2112]

I`m 27 mos. into a 13 with a 80% payback at 465.00 weekly, however my income has reduced substantially and my wife will be losing her job shortly so I`m hoping to be able to convert to a 7 and be done with this. I am currently current on mortgage,equity and car . I don`t know how much trouble it will be to convert if it`s even possible but, I`ll keep watching your posts and share info with you as it comes.

[car67]

Maddog likewise I will keep this posted as it develops. thanks car67