Conversion: A conversion is where you convert, or move, your case from one bankruptcy chapter to another. The conversion is part of the original filing and is not considered two bankruptcies. Commonly conversions are from chapter 13 to a chapter 7, but they can also be from a chapter 7 to a chapter 13 or any of the other bankruptcy chapters as well.
Motions: A motion is a creditor, debtor, trustee, or other party in interest brining a situation in front of the court to be heard and decided on. Common Motions during bankruptcy can be for, dismissal, conversion, relief from stay, extending the stay, turnover and more. A Motion being brought by any party, will have a hearing date and a response deadline.
Reaffirmation Agreement: A reaffirmation agreement will only come into play in a chapter 7 case. A reaffirmation agreement will reaffirm, or recommit, your personal liability on the debt you sign for. When you file a bankruptcy your personal liability on secured debts is discharged through the bankruptcy. Some creditors will want you to sign a reaffirmation agreement to reaffirm that personal liability again, that way you are still on the hook to the secured debt, in the event the creditor was not paid for the debt in full. Reaffirmation agreements are voluntary and need to be filed before you receive a discharge in your case. If you receive a reaffirmation agreement in your case, make sure to discuss it with your attorney.
If you have questions about bankruptcy and would like to do a free consultation to go over your options, visit www.lifebacklaw.com to speak with an attorney. You will be glad you did!