I am converting from a chapter 13 to a chapter 7 tomorrow? Based on what anyone knows about bankruptcy; my attorney charges 0 dollars to file. If I had the 0 up front I would not need to file chapter 7. Do you think she will let me make payments? Do you think she will stop my chapter 13 payments and put it towards my chapter 7?
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I filed Chapter 13 some 15+ years ago. My lawyer required me to pay 1/3 up front (when we gathered the paperwork and filed the initial bankruptcy paperwork). The final 2/3 of the payment was due when we finished the process in the judge’s quarters.
After that, I vowed never to do that again.
Their fees are actually easy to afford, once you no longer have payments to your creditors. You will be quite surprised how well you can afford it. I believe I paid my lawyer about $2,500-$3,000 15 years ago to take care of all this for me. I paid her in full by the time my case was settled about 2-3 months afterward.
The other part of your question is does it relieve you from stress and debt.
Yes to both. ONLY if you are responsible. That means you save your money before you buy something (car, cell phone, etc.).
If you think you need to go out and get a car loan (to get a car right after the bankruptcy has cleared the courts, you are setting yourself up for pain. Save up $1,000-$2,000 and pay cash for a car. I just saw 4 of them on the way home today. If that lasts for 2-3 years, you’re ahead of the game.
Just because you don’t have a car payment doesn’t mean you shouldn’t be saving for a replacement vehicle.
Put $200-$400/month away from your paycheck for a replacement vehicle so that you can pay cash for a 1-2 year left-over vehicle.
Good luck!
If you have any other questions, feel free to contact me via YahooAnswers.
If you’d get rid of internet you could save roughly $50 a month and after a year you’d have that $600.
That would have been a good question to ask your attorney when they told you the fee. Realize to file it with the courts the attorney will have out of pocket expenses. They may not want to front the cost if you are not in the position to pay the additional fee. The attorney is not in the position to stop your payments and put it towards your chapter 7 until it is actually granted by the courts.
$600 is cheap to convert a case; my old firm charged $1000.
They won’t let you make payments; you have to pay them first or the fees are discharged like any other debt.