CanI retire while in Chapter 13?

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CanI retire while in Chapter 13?

Just filed a Chapter 13and now my employer is talking about laying off all union positions and sourcing them out. I’m eligible to retire with 33 years. Can I retire and how will it effect my bankruptcy? Can it be converted to a Chapter 7?

Asked on November 19, 2011 under Bankruptcy Law, Ohio

Answers:

Jeffery Haupt / Law Office of Jeffery M. Haupt

Answered 10 years ago | Contributor

You should review your current situation with the attorney who helped prepare your chapter 13 plan.  Converting to a chapter 7 typically happens when you can no longer meet the requirements of a chapter 13 plan (job loss etc).  You should be cautioned though that you may not be able to protect assets under a Chapter 7 plan that you are able to keep under a Chapter 13 plan.


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