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Chapter 13 to 7 conversion

New Contributor

Re: Chapter 13 to 7 conversion

No, only secured creditors who I kept i.e. My car and some furniture. All unsecured debt discharged. My plan really wouldn't be that bad if I didn't lose a bunch of money a month and if my rent stayed the same. Unfortunately that's life I guess
Message 11 of 23
Frequent Contributor

Re: Chapter 13 to 7 conversion

I don't know how conversion would help you if you are only paying for secured debt.  Are you saying you want to give those things up?

Message 12 of 23
New Contributor

Re: Chapter 13 to 7 conversion

Taking a look over my plan, I am paying a percentage towards unsecured. My mistake
Message 13 of 23
New Contributor

Re: Chapter 13 to 7 conversion

And yes I am willing to give those things up and just convert to a 7
Message 14 of 23
New Contributor

Re: Chapter 13 to 7 conversion

I want to convert because with my chapter 13 payments I am negative 475 a month and my payments are 550.
Message 15 of 23
Frequent Contributor

Re: Chapter 13 to 7 conversion

I remember you posting about wanting a secured Discover a few days ago.  If you don't have enough money each month, how were you going to fund that?  Also, I remember you getting credit from Penfed a couple of days ago.  Why are you getting credit if you are in the negative.  It sounds like you just want out of the 13.

 

Message 16 of 23
New Contributor

Re: Chapter 13 to 7 conversion

I was inquiring about the Discover card being bankruptcy friendly. A bankruptcy lasts for 7-10 years as you know. I ask questions for future reference and was not looking to add discover any time soon but was inquiring for when I do with a bankruptcy on my report. And yes I have a CLOC with PenFed that will never be used because I will not be using that account. My money goes to USAA. I actually prefer a chapter 13 because it's gone in 7 years, but people's finances change and shouldn't be accused of just wanting out for no reason.
Message 17 of 23
New Contributor

Re: Chapter 13 to 7 conversion

And if you read what I said before, my rent just went up after the promotional rent was over..... 2 whole days ago. I was fine before my rent went from 850 to 1367 every month. My trustee allows credit up to 5k... why would I want to get out of a 3 year plan that I'm already 13 months into with a trustee who is lax for no reason? But yeah you're right you know the situation. LOL
Message 18 of 23
Frequent Contributor

Re: Chapter 13 to 7 conversion

Actually you posted a screenshot about Discover secured while in a Chapter 13.  I responded to it.  All I know is what you post.  Best of luck to you with whatever you do.

Message 19 of 23
Regular Contributor

Re: Chapter 13 to 7 conversion

I don't think a thing is wrong with wanting to get out of a 13. The numbers don't lie: many do not successfully finish them. And for what, assuming you pass the means test? For a clean report a few years earlier? And you can't do much at all to rebuild your credit whereas I'd you filed a 7,yiu can be rebuilding in 2 months with tons of unsecured debt discharged.
Message 20 of 23