Can I convert my Florida bankruptcy from one chapter to another?
The answer depends. Most debtors who have to convert, convert from a Chapter 13 to a Chapter 7. What is the primary reason for this? It usually can be attributed to Debtors not being able to make their payments or fall behind on their plan payments and cannot catch up.
Sometimes, it is a result of a debtor losing a source of income. In any event, a case can be converted from a chapter 13 to a chapter 7. However, any secured assets may be lost or foreclosed upon if they are not brought current by the time conversion is complete. It is not unusual for a case to be converted from a chapter 13 to a chapter 11.
This usually needs to be done if the debtor has debts that exceed the limits for chapter 13 and the debtor does not qualify under chapter 7. It is better to have a case converted from one chapter to the next as opposed to having the original case dimissed. For one, the conversion filing fee is much less than a filing fee for filing an entirely new case. Second, there automatic stay limitations if a debtor has had a recent case dismissed
If you have questions about Florida Divorces or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
