If you've been struggling to keep up with your Chapter 13 bankruptcy payment schedule, you may be surprised to learn you might have another option which could relieve you of that debt: Chapter 7 bankruptcy.
In Chapter 13 bankruptcy your debt is reorganized, allowing you to pay back your creditors under a revised payment plan and schedule. In Chapter 7, by contrast, your deby is forgiven -- unburdening you from the debt you may be struggling to get out from under.
Before pursuing a change to Chapter 7 bankruptcy, it is important to understand what the conversion process might entail. This article offers a simple rundown of what is involved as you convert from Chapter 13 to Chapter 7 bankruptcy in Wisconsin.