How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Terry L. Your Own Question

Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2541
Experience:  Better Business Bur 15yrs bankruptcy experience. Chicago Bar
15345323
Type Your Bankruptcy Law Question Here...
Terry L. is online now
A new question is answered every 9 seconds

When filing for bankruptcy can you withdraw from it if you

Resolved Question:

When filing for bankruptcy can you withdraw from it if you change your mind before it becomes final? If so how long do you have to decide after the initial papers are filed?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 2 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Once it is filed, it becomes permanent, at least the fact that you filed will show on your credit report, regardless of the result.

Terry L. :

The court, may allow you, on motion, to dismiss the case. This is rare for chapter 7, especially if there are assets found.

Terry L. :

It is more common in chapter 13.

Terry L. :

Can you provide me with reasons why you want to dismiss the case?

Terry L. :

You need to bring a motion. There is no automatic right to dismissal, so it will be in the court's discretion.

Terry L. :

If there are assets, the courts lean to keeping them open, as the creditors will get something from the liquidation. Debtors say they will repay the debts, but the courts realize that there is no guarantee they ever will. With an asset liquidation, the creditors will get something, now, which is what the courts side with generally.

Terry L. :

Let me know if you have any other questions.

Terry L. :

Good luck, thanks for your question.

Customer:

Maybe you did not understand my question. I understand when the paperwork is initially filed creditors have to stop contacting and pursuing you - that said how long before you have to go to court for the bankruptcy? Can you file the intial paperwork and then have some breathing room before completing the process? Say for example you were expecting a job offer that would change your situation and not make bankruptcy necessary. In our case there are no assets to come after.

Terry L. :

I se

Terry L. :

se

Terry L. :

see

Terry L. :

Once you file the initial documents, the rest of the paperwork is due within a short period. up to 2 weeks for some, date of filing for others.

Terry L. :

if you fail to file documents, then the case will draw a motion to dismiss

Terry L. :

The hearing you have is about 30 days into the case

Terry L. :

Once a case is dismissed, then automatic stay protection drops as well.

Terry L. :

Most cases are filed in their entirety on the date of filing.

Terry L. :

Do you have another question?

Terry L. :

If you have a job offer when filing, you should indicate that on schedule I.

Terry L. :

As I stated before, most of the time, debtor's cannot dismiss a case voluntarily, except on order by the court.

Terry L. :

Even if you can show that you can afford the debts now, the court would likely request you to convert to chapter 13 to repay debts thru a chapter 13 plan.

Terry L. :

Do you have any other questions?

Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2541
Experience: Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Terry L. and 3 other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.
 
 
 

Related Bankruptcy Law Questions

Chat Now With A Bankruptcy Lawyer
Terry L.
Terry L.
Bankruptcy Lawyer
2541 Satisfied Customers
Better Business Bur 15yrs bankruptcy experience. Chicago Bar