Converting a Chapter 13 to a Chapter 7 Bankruptcy

When it comes to bankruptcy, there are many different options available. One of the most popular is the Chapter 13 bankruptcy filing which allows an individual or business to reorganize their debt and make payments over a three to five year period in order to repay creditors. However, sometimes individuals or businesses may find themselves in a situation where they need to convert their Chapter 13 filing into a Chapter 7 bankruptcy instead.

This decision should not be taken lightly as converting from Chapter 13 to Chapter 7 can have serious consequences. Depending on how far along your current payment plan is and what your financial goals are, there can be advantages and disadvantages associated with converting such as having all remaining debt discharged but also potentially losing any assets secured by liens that were part of the repayment agreement when the original filing was made.

The main Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706