I really don't think there is enough value there after taking the $100k exemption. But if, for example, the trustee believes the equity is 150k, Do I have a right to convert into a chapter 13 and simply make payments? My home is the only thing I truly own in life.
Yes you can convert your case to a 13, but unless you have an experienced BK attorney helping you, it is a considerable job on a pro se basis. Not impossible, but almost. More details are needed to confirm my response.
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Yes you can, but you don't want to wait too long to do it. At some point the Chapter 7 trustee will have a claim for their fees and costs. Make sure you have taken the full homestead exemption.
Legal disclaimer: Mark J. Markus practices law in California only. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation.
I concur with the others. First, get a full blown appraisal. Then evaluate sharing this with the Trustee.
Legal disclaimer: Jonathan Stone is a New Jersey-licensed attorney only. The information is not intended to be legal advice. You should consult an attorney regarding your particular circumstances. Answering this question on Avvo does not constitute legal advice, constitute legal representation or constitute an attorney-client privilege.
Chapter 13 Bankruptcy Attorney
Yes, you can convert to a Chapter 13 and propose a plan that pays your unsecured creditors according to the amount of equity you cannot protect with exemptions. Alternatively, you could obtain an official appraisal and show this to the trustee. If you decide to convert definitely seek the assistance of experienced attorney to help you.