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I am going to convert my chapter 13 bankruptcy to a chapter 7 because I cannot afford it. However, to date I have paid the chapter 13 trustee nearly $14,000. The case is not confirmed. What happens to the $14,000 when I convert? Does the tru...
Since your case has not been confirmed, creditors have received no distributions. The Trustee should be giving that money back to you, minus the Trustee's fees (10%). I would discuss your state's exemptions with your attorney, but in Idaho, the Trustee would go after that money if there were no applicable exemptions to protect it (ex. 75% of wages are exemptible, 25% are subject to turn over to the estate). You may be looking at a situation where you may have to spend some or all of those returned funds before you file your chapter 7 in order to keep the funds out of the reach of creditors; unless there is an exemption to protect the funds.See question