How does a bankruptcy conversion affect debt?

Get Legal Help Today

 Secured with SHA-256 Encryption

How does a bankruptcy conversion affect debt?

I filed a Chapter 13 Bankruptcy 3 years ago and got a pay day loan a year later. Last year I converted the bankruptcy to Chapter 7. Do I still owe the pay day loan?

Asked on June 29, 2011 under Bankruptcy Law, California

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

Pursuant to 11 U.S.C. 348, the debt you incurred on your pay day loan will be included as a prepetition debt in your Chapter 7 case.   So, assuming you receive a discharge, that debt would be included in the discharge.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

Pursuant to 11 U.S.C. 348, the debt you incurred on your pay day loan will be included as a prepetition debt in your Chapter 7 case.   So, assuming you receive a discharge, that debt would be included in the discharge.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption