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How chapter 11 bankruptcy works

how chapter 11 bankruptcy works

Things You'll Need

Motion to convert bankruptcy


Write a letter to the bankruptcy trustee advising of your intent to file a motion to convert your case from a Chapter 13 to a Chapter 11 bankruptcy. Ideally, the bankruptcy trustee will agree with your decision based on his or her understanding of your financial position.

Gather financial documents that support your position that you can no longer meet the financial requirements of a Chapter 13 bankruptcy. These documents include income statements as well as invoices and bills supporting your monthly expenses.

Provide this documentation to the bankruptcy court trustee in advance of taking further action toward the conversion of your case so he or she can review your documentation before making

a decision on your proposed change of course.

Prepare a motion to convert your bankruptcy from a Chapter 13 to Chapter 11. Motion forms are available through the bankruptcy clerk's office, including those to convert a case.

File the motion to convert with the bankruptcy court clerk.

Send a copy of the motion to convert to the bankruptcy trustee and to each individual creditor.

Attend the hearing on your motion to convert your case. Creditors have the option to object to your proposed conversion, so be prepared to defend your position. Above all, you must demonstrate that from an objective standpoint there is no possible way for you to meet the Chapter 13 plan payment requirements, even if the plan were modified.

Category: Bank

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