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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2901
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Can I withdraw my chapter 7 petition I had my meeting of

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Can I withdraw my chapter 7 petition? I had my meeting of creditors back in early august of this year. The reason I want to withdraw it is because my father died and left me some money. I know that I have to notify the trustee but can I also withdraw my Petition at the same time?
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Terry L. :

Hi and thank you for your question. In the future, you can request me to answer any further questions.

Terry L. :

Unfortunately you do not have the automatic right to dismiss the chapter 7.

Terry L. :

the asset is part of the bankruptcy estate. You do need to notify the trustee.

Terry L. :

The trustee will pay your creditors with this money, and after the estate is closed, if there are remaining funds, you will get them.

Terry L. :

You can try to file a motion to dismiss, but it will most likely be denied. There is no guarantee that you will pay the creditors on your own despite what you may tell the court (even if you will do that) the court sees that the trustee has a legal obligation to pay them, and it is better for the creditors.

Terry L. :

You can try though. Good luck. thanks for your question.

Terry L. :

do you have any further questions?

JACUSTOMER-2fr0v36k- :

Okay, but how do I place my father's estate into the bankruptcy?

Terry L. :

If you have an attorney, they can notify the trustee, otherwise call the trustee's office and they will review with you what needs to be done at this poitn.

Terry L. :

point

Terry L. :

inheritances are part of the estate for 6 months after the case is filed.

JACUSTOMER-2fr0v36k- :

okay, thanks.

Terry L. :

any other questions?

Terry L. :

if you do, you can always reply and I'll be happy to assist. thanks for your question, sorry about your loss. good luck.

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