dismissed bk 13, should I convert to 7

[Anonymous]

My ch 13 bk was just dismissed, we have about $25k in credit card debt, we already let the house and car go back, should we convert to a ch7, or just work on paying off our debt over the next year? I want to work on repairing our credit and raising our scores as much as possible. My score was 750 before filing, now it's 595, If I simply pay off the rest of my debt will it raise my score alot or do ch7??

[Creditaddict]

your scores are not bad.

Why did you choose 13 vs 7 to begin with?

Unless you just really can't afford the payments or don't want to afford the payments for the next 4-5 years whatever your plan states, I would not go back now and convert to 7.

The main reason I would not convert now is because chapter 13 is reported on your credit report for 10 years not. if you go back and file 7, now you will have chapter 13 and chapter 7 bk showing on your credit report for 7 years and you will take another slug to your credit score when you come through the 7.