October 3, 2006 12:41 AM
Cost of Bankruptcy: Conversion From A Chapter 13 To Chapter 7
From Bankrate, which is running a revealing series about how much a bankruptcy will truly cost.
From Bankrate:
Conversion from a Chapter 13 to a Chapter 7 bankruptcy costs $15.
Experts say most debtors change from a Chapter 13 to Chapter 7 because they did not have the money to meet the payment plan.
Petitioners do get one break: Conversions from a Chapter 7 bankruptcy to a Chapter 13 do not require a fee.
Henry Sommer, executive director of the National Association of Consumer Bankruptcy Attorneys, says one reason for this type of conversion is the debtor is facing a challenge or has lost a challenge under the means test.
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