I've been in my house for 3 years and have lost about 100K in equity at that time. This house was not meant to be a long-term home , only one to get my family out and hire a desirable neighborhood after selling . The market crashed , and now I feel like I'm stuck . I do not want my children in the schools in this area ( two years away) and I like it here . I recently filed a Ch.13 BK to get rid of a significant amount of debt and now I wonder if I should change my Ch.7 and Ch.13 to include my house . Now ( after the cap . 13 BK ) have no problems with any of my accounts money is not a factor here . I just do not like where I live and I want to be in a place where I feel that my children can play outside without worrying about them both . I considered renting, but this seems to be more of a task than I can handle at this point in my life , but the idea is not off the table .
I consulted with my family and friends , and things have gotten worse ... I out 1/2 on one side and half on the other ... I'm looking for the pros and cons of this situation . Any advice will be great .
#1LilsAnswered at 2013-03-14 03:40:35
The first requirement for the conversion of a Chapter 13 bankruptcy to a Chapter 7 is that the case has not been previously converted . If so , it is possible to convert the case to a Chapter 7. If the first condition hti s then you will have to do another test means it sounds like it would be difficult to prove because you claim the money is not a problem. It seems likely that creditors oppose the meeting of creditors . I suggest you consult a bankruptcy attorney to understand your options .
Note that I have not told what to do in this case . You stated that you see and go and I think we want justification but in reality it is a choice only you can make and you can live.