Re: What do you think this BK lawyer meant?
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Posted by JKelly
(68.163.2.72) on August 14, 2004 at 11:28:08:
In Reply to: What do you think this BK lawyer meant? posted by free 2b me on August 14, 2004 at 10:57:03:
I don't know what it is called, but I have heard of filing Chapter 13 first, and then converting to a Chapter 7. You would file chapter 13 so that you could catch up on your mortgage, wasn't that it. I have heard of doing that. Maybe it is for people who try a 13, can't make the payments and then go to a 7. I thought the purpose of chapter 13 was to keep everything. What are you planing on selling? The thing I like about a chapter 13, when you can't do a 7 is that a court trustee has control of the debts, and interest. It takes the power away from the CA who wants you to pay 100.00 a month, 5 of which goes to the debt, and the rest is interest.
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