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Converting From One Bankruptcy Chapter to Another

UPDATED: Jul 12, 2023Fact Checked

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Converting From One Bankruptcy Chapter to Another

When a debtor files for bankruptcy, he or she must choose to file under a specific chapter of the Bankruptcy Code. If the debtor simply wants to liquidate his or her assets and pay creditors from the proceeds, they would file under Chapter 7. If a consumer wants to keep their assets and obtain more time to repay creditors, they would file under either Chapter 11, 12 or 13; whereas a business seeki...

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

UPDATED: Jul 12, 2023

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UPDATED: Jul 12, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

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Nationwide State Farm Allstate