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Can I switch from Ch 7 to Ch 11

Highland, CA |

Currently under Ch 7 Trustee wants to sell two rentals that had no equity 6 months ago but now had $100k each equity because of tight market Am realtor Can sell it mysf

Attorney Answers 3

Posted

Discuss with your lawyer. You certainly won't get very far in Chapter 11 without one, and a Judge is not likely to convert without one.

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Filemon Kevin Samson

Filemon Kevin Samson

Posted

I agree with my colleague that Chapter 11 is a complicated process and you will not get very far without a Bankruptcy Attorney. Samson & Associates has an office near you. Call for your FREE Bankruptcy consultation. www.SamsonLawFirm.com

Posted

Not easily. You need experienced bankruptcy counsel. It needs to be determined if there is cause for you to consider a chapter 11 or if you are better suited for a chapter 13. To convert a case after the trustee finds assets can be difficult and the trustee can object. The conversion must be in good faith. If you were to succeed and sell the houses your self you would not get the commissions. Please find an experienced bankruptcy lawyer quickly.

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Filemon Kevin Samson

Filemon Kevin Samson

Posted

I agree with my colleague that you should consult an experienced bankruptcy attorney in your area to determine whether a Chapter 13 or 11 or continuing with your Chapter 7 is best suited to address your intended goals. Samson & Associates has an office near you. Call for your FREE Bankruptcy consultation. www.SamsonLawFirm.com

Posted

Conversion will require a motion showing that in fact you qualify for chapter 11. You need to consult a chapter 11 attorney. Your other options are to contest the trustee's action to sell the properties in chapter 7, file a motion to dismiss the case and offer to pay the trustee for his time spent on the case (this worked for one of my clients), or allow the properties to be sold.

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Filemon Kevin Samson

Filemon Kevin Samson

Posted

I agree with my colleague that you should consult an experienced bankruptcy attorney in your area. A local bankruptcy attorney may be more familiar with the bankruptcy trustee assigned to your case and how that trustee is likely to respond to a motion to convert your case. Samson & Associates has an office near you. Call for your FREE Bankruptcy consultation. www.SamsonLawFirm.com

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