Chapter 13 and Chapter 7 questions - filing dates

[johnson207]

There was another post in this forum regarding the data at which Chapters 13 vs. Chapter 7 will fall off credit reports, with the 7 having a long duration than the 13. I was hoping to get some clarity on my situation.

We initially filed for Chapter 7 last Sept and converted to Chapter 13 in January/February. From a filed date, would we use the Chapter 13 date? Or is this just something we would need to keep an eye on?

Also, just in general, if the Chap 13 would hypothetically four years from the filing date, why are most plans over 4 years? That was more just a curiosity factor than anything. I realize that the bankruptcy process is different from the credit bureaus, it just struck me as odd timing.

[StartingOver10]

NOLO has the answer to your last question about Ch 13 plan length (see quote below from NOLO). For details check this link http://www.nolo.com/legal-encyclopedia/how-long-will-my-chapter-13-plan-last.html

Is Your Monthly Income Above or Below the State Median?

To file bankruptcy under Chapter 13, you must have regular income so you can make required plan payments. Regular income includes wages and commissions that you earn either in the ordinary course of a job or through self-employment.

The “commitment period,” or plan duration, is determined by comparing your monthly earnings to the median family income in the state where you live. (Learn how to find your state median income and then compare your monthly income to the state median.)

The commitment period is three years if you earn less than the median income in your state. The commitment period jumps to five years if you earn more than the median income in your state. Five years is the maximum length of any Chapter 13 plan.

You can reduce the commitment period for your Chapter 13 plan if you can pay all of your unsecured debt sooner. Most Chapter 13 debtors, however, earn too little and owe too much to make required plan payments in less than three to five years

[TRC_WA]

A discharged 13 falls off 7 years from date of filing... a dismissed 13 stays for 10 years... the same amount of time as a Ch 7.

I'm not sure which date yours would use since you converted.  The payment plans are less than 7 years so I don't see how that could be an issue.

Mine was 5 years... and I paid off in 4 with 16 months to go until it falls off my reports in April 2016.