North Carolina  |  Bankruptcy

Legal Question

Asked on: 5/25/13, 2:43 pm

I owner financed my farm for $699,000. I missed a few payments and the owner filed foreclosure. I offered part of the payments but she refused. I filed chapter 13 but she was granted a stay. The farm is now set for public auction in 3 weeks. I use the farm as a wedding venue, can I convert to a chapter 11? Will converting reverse the stay or put it on hold? In a chapter 11 can I show where the owner has contacted my competitors, other creditors, and used the internet to slander me? Will I be able to crunch down the amount owed since the farm is now only worth $350,000?

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