Question: Bankruptcy Abuse Ruling - Now What?

[micbur]

What is the name of your state? GA

Here is what has happened and like so advice:

In June 2007 we tried to file Chapter 13 but because of the excessive amount of our mortgage payments (1yr ARM that had placed our payment to over $4,000 a month) we did not qualify for repayment plan. We then filed a Chapter 7 and had meeting with creditors...no one showed and we stated that we were surrendering all properties. Just received a ruling stating that the Chapter 7 is possible bankruptcy abuse because after we surrender all property then we should be able to afford housing, food and make payments. So now what? Can we convert to Chapter 13 or better to now just dismiss the Chapter 7?

[moburkes]

What property are you surrendering? The home and what else?

[Ladynred]

When they turned you down for the Ch 13, why didn't you just modify your plan to surrender the house then ?? It would have saved you all this hassle.
Now you have 2 choices - convert to a ch 13, or dismiss and be back in the soup. You may be able to convert to Ch 13, but be aware that the automatic stay may be very much abbreviated or even non-existent as you are now going to be classified as a 'serial filer'.