|Any person who files for Chapter 13 payment plan has the absolute right under Section 1307(a) of the Bankruptcy code, with qualification, to convert to a Chapter 7 without restriction. In order to qualify, the party must have not previously converted the case from another chapter (you don't get to convert a second time), and must be eligible financially under the "Means Test".Chapter 7 or Chapter 13 act is meant for the same purpose. It is the legal procedure by which you can simply let you free from past debts and credit plans. According to this act you may be valid to excuse the balance overdue. All these undertakings are executed only when you appoint the proficient attorney that knows very well about the insolvency acts and other money owing liabilities. Debt relief attorneys Memphis team works in the same way and support the debtors by giving precise consultation or advices.Here, one has to understand the most important and distinguished aspect of this bankruptcy. Contrary to Chapter 7 bankruptcy, it does not release all due payments immediately. On the contrary, the debtor offers to pay the debt to the creditors over a short period of five years. He has to plan monthly payments and then submit a payment schedule to the court.o Are you overestimating your debt? Some persons and families think they have more debt than they really do. Cutting back on household expenses and trading in high priced vacations for a lower priced alternative can often help to ease the debt burden of the household. Try cutting back on extra conveniences like cable, cell phone and those trips out to dinner before signing up for a bankruptcy filing.I recommend to any individual that even after they file for bankruptcy that they still seek budgeting guidance from a credit counseling organization. This is typically a free service that is developed to help people budget their daily finances; this can be of great help once a bankruptcy has been filed by providing valuable insight on how to prevent these problems in the future. If a credit counseling agency charges for this service I recommend that you look again until you find help elsewhere. There are several well qualified agencies that offer no cost counseling.After the test and the forms are completed, you're ready to file. Filing must be done within the area you live or work in or have the majority of your assets. Once you've filed, no creditor will be allowed to garnish your wages or pursue a lawsuit or have any contact demanding you pay your debt.This article is written by James Stew. With the experience he felt the need to educate the people about legal matters, what better could he find than writings. He puts in regular information about bankruptcy attorney Memphis please click here and debt relief attorney Memphis.