Posted on: 13th Feb, 2010 06:45 am
does anyone know if the 2005 bankruptcy act which states that a debtor is ineligable for a discharge under chapter 13 if they have received a prior discharge chapter 7 in the past 4 years is still the rule? we filed chapter 7 this year, did not have good advise, and now would like to file chapter 13 in order to strip second mortgage.
If you filed for chapter 7 this year, that means it hasn't been discharged yet because they take 3-4 months, so all you have to do is tell your Attorney you want to convert it to a 13.
I thought CH13 was largely about establishing a repayment plan or similar, not actually cancelling debt?
Chapter 13 is a repayment plan and can be structured to forgive a portion of unsecured debt.