When you file a case for bankruptcy, your attorney will advise you whether you should file a Chapter, 7, 11 or 13 under the federal Bankruptcy Code. There are different advantages and rules to each type of bankruptcy plan. However, even after you have filed the case, it doesn’t have to be set in stone.
If your bankruptcy attorney advises you that you should convert your current bankruptcy case to an alternate plan, you can do so simply by filing a notice of conversion with the court as well as following up with the other changes that will be necessary.
One of the reasons that you may be advised to convert your case is if you are unable to keep up with your Chapter 13 payments. Then you may be advised to change it to a Chapter 7 debt relief case. The great thing about converting your case is that any new debt that you have accumulated may be able to be included in the new filing.
Your case can also be involuntarily converted from a Chapter 7 plan to a Chapter 13 plan if you are determined to have enough income to repay your debts through a Chapter 13 plan. This is one of the reasons that it is imperative that you divulge all of your assets and income to your attorney when you are considering filing a bankruptcy case.
Going through a bankruptcy can be very emotional and stressful. Remember, you do not have to go through the process alone, nor should you. You need to consult with an experienced and knowledgeable Arizona bankruptcy attorney who can walk you through the entire process as well address any questions that you may have about your options or the process itself. Your attorney will make sure that your best interests are represented at all times.
