Can You Convert Your Bankruptcy Chapter?

  • Bankruptcy Chapter

Can You Convert Your Bankruptcy Chapter?

Call: 888-297-6203

If you thought handling debts were difficult, you have not looked at the documents required in bankruptcy. Los Angeles based bankruptcy law firm Recovery Law Group lawyers inform that there are four chapters under which individuals can file for bankruptcy. However, determining which chapter will work best for you is something you cannot decide. This is done by experienced bankruptcy lawyers. They ask you questions related to your debts, assets, etc. and depending on your answers, suggest the best chapter for filing for bankruptcy. Since every case is different, there is no fixed way to suggest the bankruptcy chapter.

Since facts in bankruptcy cases often change as per situation, the 11 U.S.C. §706 was created to assist individual bankruptcy filers. According to this provision, a debtor can convert their bankruptcy case to another chapter if the need arises. However, to do so, they need to pass the qualification test. In the case of Chapter 7, the debtor needs to pass the Means test while for Chapter 13; the debt limit should not cross the specified limit. To know more about your options during bankruptcy, you can call 888-297-6023 to discuss with experienced bankruptcy lawyers.