debtisbadnews Posted October 12, 2008 Report Share Posted October 12, 2008 I'm wondering if it is at all possible to get out of a ch13? I am filing for ch7 in 2010, then all my cc debt will be gone. But I am still stuck with student loans. Link to comment Share on other sites More sharing options...
LadynRed Posted October 13, 2008 Report Share Posted October 13, 2008 Are IN a ch 13 ? If so, when did you file ?You're already planning another BK ?? Neither is going to eliminate your student loans. Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 13, 2008 Author Report Share Posted October 13, 2008 Yes, I am currently in a ch13, hearing was in July. I am able to file a ch 7 again in 2010 ( I filed ch 7 in 2002). I was more curious than anything, I am in no position to stop this ch 13, but it is a question I have that my atty's secretary says "no, you cant stop a ch12" but of course they dont want me to, it would be $ out of their pockets. My atty doest return my calls, and is very arrogant(imagine that) and acts really bothered when I call him. Link to comment Share on other sites More sharing options...
Methuss Posted October 13, 2008 Report Share Posted October 13, 2008 You can convert to a chapter 7 if your income is insufficient to sustain your current ch13 plan. I assume your income was too high to qualify for chapter 7? Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 13, 2008 Author Report Share Posted October 13, 2008 i filed ch 7 in 2002 and with the new laws you have to wait 8 years now to refile not 6 or thats what i would have done. i can file again in 2010, unless biden and obama get in office, they are going to change the bk laws, its a top item on their very long list, i believe. they have me at the lowest payment on my ch13 i am paying 50 per pay period or 100 a month, although thats still too much when your gross income is 27000 a year. Link to comment Share on other sites More sharing options...
Denita Posted October 13, 2008 Report Share Posted October 13, 2008 Did you file the BK yourself? Do you have an attorney?How did you end up in a CH 13? Link to comment Share on other sites More sharing options...
1time2many Posted October 13, 2008 Report Share Posted October 13, 2008 i filed ch 7 in 2002 and with the new laws you have to wait 8 years now to refile not 6.Where did this come from...........all I can find is the 6 year rule. Link to comment Share on other sites More sharing options...
bingo Posted October 13, 2008 Report Share Posted October 13, 2008 The law changed in 2005.http://doney.net/bkcode/11usc0727.htm8) the debtor has been granted a discharge under this section, under section 1141 of this title, or under section 14, 371, or 476 of the Bankruptcy Act, in a case commenced within 8 years before the date of the filing of the petition; Link to comment Share on other sites More sharing options...
jq26 Posted October 13, 2008 Report Share Posted October 13, 2008 I'm paraphrasing here, but section 727 says:a) that you cannot receive a Chapter 7 discharge unless its been 8 years since you filed the first discharged Chapter 7. that you cannot receive a Chapter 7 discharge unless its been 6 years since you filed a discharged Chapter 13. One caveat- if the discharged Chap 13 was a 100% payout plan, then the 6 year rule doesn't apply. ----------------------------------------------------Section 727:No granting of discharge if:(8) the debtor has been granted a discharge under this section, under section 1141 of this title, or under section 14, 371, or 476 of the Bankruptcy Act, in a case commenced within 8 years before the date of the filing of the petition;(9) the debtor has been granted a discharge under section 1228 or 1328 of this title, or under section 660 or 661 of the Bankruptcy Act, in a case commenced within six years before the date of the filing of the petition,http://www4.law.cornell.edu/uscode/11/usc_sec_11_00000727----000-.html Link to comment Share on other sites More sharing options...
jq26 Posted October 13, 2008 Report Share Posted October 13, 2008 To answer your original question, all you have to do is ask.§ 1307. Conversion or dismissal:(a) The debtor may convert a case under this chapter to a case under chapter 7 of this title at any time. Any waiver of the right to convert under this subsection is unenforceable. (On request of the debtor at any time, if the case has not been converted under section 706, 1112, or 1208 of this title, the court shall dismiss a case under this chapter. Any waiver of the right to dismiss under this subsection is unenforceable.http://www4.law.cornell.edu/uscode/11/usc_sec_11_00001307----000-.html-----------------------------------------------------Regarding your student loans, you can apply for a hardship deferral directly through your lender. You can also ask for an administrative discharge through your lender. That usually involves permanent disability. And you can try to petition the BK court for discharge of the loans if they are a MAJOR hardship, but the situation has to be dire with years of payment. The third option should be your last option because the court rarely allows it. Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 13, 2008 Author Report Share Posted October 13, 2008 im not understanding all the legalities you stated about discharging a ch13, so I have to wait 6 years. My atty told me I could file ch 7 in 2010. I live in Iowa...my atty is in Illinois. this legal stuff goes over my head! thanks so much for everyone's comments and help! I dont know what I would do without this forum! Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 14, 2008 Author Report Share Posted October 14, 2008 and as far as 100% payout, i dont believe it is...my creditors wont see a dime of money, the trustee and atty are making sure they get paid in my ch13, 100/month until i can file ch7 in sept 2010 puts it about about 2000 or so, atty fees are around 2000 and trustee (Not sure)....so its not a 100% payout??? i dont think. Link to comment Share on other sites More sharing options...
jq26 Posted October 14, 2008 Report Share Posted October 14, 2008 Your current Chap 13 is almost surely not 100% payout from what you posted. Therefore, you cannot receive a discharge from another Chapter 7 bankruptcy until exactly 8 years from the date you filed your case in 2002. I'm not sure where your attorney is coming from when the statute is clear. This is federal law which is the same in every state in the nation. Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 14, 2008 Author Report Share Posted October 14, 2008 sounds like yet another lie my attorney told me! I think tomorrow I will be calling some other attorneys in my area to see what they say about this. well that sure sucks! hopefully a new president will save me! I want to go back to college and can't get financial aid either. I want to get a better paying job! geesh is there no relief out there for those of us who work hard every day? Link to comment Share on other sites More sharing options...
jq26 Posted October 14, 2008 Report Share Posted October 14, 2008 Politics aside, I'm not sure there is any plan by any candidate to allow repetitive Chap 7 filings. Call around and talk to attorneys. See what they say. And please report back so we keep info at this site accurate. Link to comment Share on other sites More sharing options...
LadynRed Posted October 14, 2008 Report Share Posted October 14, 2008 Politics aside, I'm not sure there is any plan by any candidate to allow repetitive Chap 7 filingsAgreed. There is nothing in the Obama/Biden 'plans' to do anything to the BK law except perhaps try to get some of the reforms thru that have been proposed since 2005 to ameliorate some of the nastier (and stupider) parts of the 'new' law.You haven't answered my question though - WHY DO YOU WANT TO FILE ANOTHER BANKRUPTCY ?? You're in your 2nd and you're not even done with that one and you're looking for a third !! ?? This sounds like a bigger problem exists that you're not addressing. Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 16, 2008 Author Report Share Posted October 16, 2008 I contacted a different atty yesterday, she was supposed to call me back today, no such luck! but her receptionist told me that here in Iowa anyway, that I CAN "convert to a ch 7 in 2010 when my 8 years are up" I can't help but want to look into the future and see what our new president will have in store for us. I am watching the debate(trainwreck) now, and I remember hearing the Obama/Biden force and I quote "we are going to change the bankrucy laws" Now I dont know if they meant for the good or the bad of the consumer. And they didnt elaborate, maybe someone else caught it. Link to comment Share on other sites More sharing options...
debtisbadnews Posted October 16, 2008 Author Report Share Posted October 16, 2008 you must be missing the big key to my postings $44,000 of student loans, with a gross income of $28,000 a year! hello ? bueller? yeah, I know I can get a 2nd or 3rd job...dont even go there with me....I have always had 2-3 jobs, and its stressful and you cant enjoy life! Life is too short! I got into cc debt to pay daily living expenses, there are no minks, $700 purses, or $500 pairs of shoes in my closets. I drive 1 hour one way to work every day(2 hours a day), yes, I am trying to get closer. I could go on and on....so best for no one to go there with me! Link to comment Share on other sites More sharing options...
jq26 Posted October 16, 2008 Report Share Posted October 16, 2008 Student loans are generally non-dischargeable. No plan to change that by either party.You CAN petition the court for discharge if repayment causes undue hardship. Here, the word UNDUE is the important one. It may be a real hardship but that's not enough. It must be more. And underearning is certainly not one of them. You can call the lender and request a hardship deferral. This IS based on a lack of sufficient income. They will reduce or stop taking payments while you are in the deferral. You must reapply every six months. You also have the option of calling the lender or going on their website and filling out an application for an administrative discharge. This usually involves disability that occurred after the receipt of student loan funds. As far as possible changes to the Code: there have been some that have suggested allowing bankruptcy judges to modify primary residence mortgages in Chapter 13. Its currently prohibited by the anti-modification clause in section 1322(. The elimination of this anti-modification clause is about the only thing that has even a fighting chance of getting passed in the foreseeable future. Link to comment Share on other sites More sharing options...
Denita Posted October 16, 2008 Report Share Posted October 16, 2008 I have heard there are some programs for student loan forgiveness but you have to qualify for the program. Under certain circumstances, the federal government will cancel all or part of an educational loan. This practice is called "loan forgiveness". To qualify, you must: Perform volunteer work; Perform military service; Teach or practice medicine in certain types of communities; or, Meet other criteria specified by the forgiveness program. The above is from this site http://www.staffordloan.com/repayment/federal-student-loan-forgiveness.phpThere is much more information there. You may want to check it out Link to comment Share on other sites More sharing options...
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