You can convert a Chapter 7 bankruptcy to Chapter 13 in most situations. This option exists specifically to give you flexibility if your circumstances change. It also helps if Chapter 7 turns out not to be the right fit for your situation. A DuPage County bankruptcy lawyer can help you understand whether converting your case is the right move.
If you contact The McCormick Law Firm, LLC, you’ll work directly with Attorney Eron McCormick. He takes a genuine guy-next-door approach to explaining your options in a way that actually makes sense.
Why Would Someone Want to Convert From Chapter 7 to Chapter 13 Bankruptcy?
Several situations might lead someone to convert their case after initially filing Chapter 7. You might discover during your case that you actually earn too much income to qualify for Chapter 7 under the means test. You might also want to keep an asset that would otherwise be sold off in a Chapter 7 case, like a house facing foreclosure. Some people also convert because they’ve fallen behind on a secured debt, like a car loan or mortgage. Chapter 13’s repayment structure offers a better way to catch up without losing the property entirely.