Bankruptcy Help Needed

Discussion in 'Credit Talk' started by Eliot, Apr 2, 2001.

  1. Eliot

    Eliot Guest

    My father is ashamed he declared bankruptcy, chapter 7, with only $35,000 in debt. Nevertheless, he was disabled, and could not pay his bills.

    Today, he can pay that debt, and he is talking of hiring an attorney to pay back his creditors in full, with no discounts. His entire debt was discharged in 1999.

    Can my father change his chapter 7 to a chapter 13, since he is going to repay his creditors, and therefore get the BK behind him sooner? His bankruptcy attorney told him two years ago that a chapter 7 would stay on his record from 7 to 10 years. The law seems to say 10 years, fixed. So his attorney lied to him. Is that a possible loophole to go chapter 13 now?

    Thanks in advance for a response.
  2. Bigun

    Bigun Guest

    You can change a 13 to a 7 but, once you are discharged from whatever chapter you filed it's over. If your father wishes to repay for personal reasons, he can. But, that chapter 7 will be there for the 10 year period. I believe he can request the creditors to report his payment and he can send a letter to the cra's explaining the situation but, that's about all. Unless, we can get lizzard on the case!<G>
  3. breeze

    breeze Well-Known Member

    I think he would be making a mistake. He can come back from the ch 7 very fast, and he cannot get the BK removed now.

    If creditors were amenable to working with someone who is going through an illness, chances are they would not get bankrupted.


    just my 2 cents

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