Under bankruptcy law, you have the right to convert a Chapter 13 bankruptcy into a Chapter 7 if you satisfy the Chapter 7 eligibility requirements. For instance, you will have to prove that you pass the Bankruptcy Means Test before the court approves your conversion. The Means Test requires applicants to earn income below the specified amount in order to be eligible for Chapter 7 bankruptcy. Determining eligibility for Chapter 7 can be complex and confusing without competent legal representation. If you are considering filing for Chapter 7 or converting your Chapter 13 bankruptcy contact us to schedule a free consultation with a Tampa bankruptcy attorney at our firm. During the consultation a bankruptcy lawyer will answer your questions and develop a comprehensive plan to help alleviate your financial troubles.
Not all conversions are voluntary; a bankruptcy court can legally force you to convert your Chapter 13 bankruptcy into a Chapter 7. However, in order to force a conversion the bankruptcy trustee will need to show there are legal grounds to force the conversion.
Legal grounds for a forced conversion include:
- Failure to submit required Chapter 13 payments on time
- Unreasonable delay caused by the borrower that poses harm to creditors
- Failure to file a Chapter 13 payment plan by the specified time
- Loss of employment
Consult With a Bankruptcy Attorney in the Tampa Bay Area Today
If you are having a difficult time meeting your financial obligations Florida Law Advisers, P.A. may be able to help. Our Tampa bankruptcy attorneys have years of experience helping people just like you solve their financial problems and obtain a fresh start. We dedicate all of our experience and skills in the courtroom to help achieve the results our clients need and deserve. When you hire Florida Law Advisers, P.A. you don’t just get legal advice, you get experienced attorneys by your side every step of the way.
Florida Law Advisers, P.A,. is a customer-service oriented law firm with a strong reputation for providing personalized attention and dedicated legal counsel. Regardless if you need help initiating a bankruptcy or converting your existing bankruptcy our professional legal team will provide you with competent legal advice you can trust. Contact us with questions about bankruptcy law or to schedule a free consultation with a Tampa bankruptcy lawyer.