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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I filed a chapter 7 which is what i was advised. However,

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I filed a chapter 7 which is what i was advised. However, i have properties under a real estate llc. The bank has move to foreclose on my properties and collect all rent informing tenant they must move if not paid by a certain date and not honoring the rental agreement. Can i now file a chapter 13 and prevent this or is it too late. The bank has not file foreclosure yet.
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 4 years ago.

cortrightlaw : If a chapter 13 bankruptcy will help you keep the properties and you can qualify for a chapter 13 you can request to convert your 7 to a 13. If you did not use an attorney for your 7 you really need to go meet with one so try can look at your complete financial situation.

can i do both and what is the advantage and/or disadvantage if both are done?

cortrightlaw : You can not do both at the same time, but you can file a 7 first then a 13 after you get your discharge but this is rarely a good idea.
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