Voluntary Bankruptcy Dismissals

: Chris Lee Law Firm

  Filed under: Bankruptcy

bankruptcy dismissalIt might seem odd that someone would file for bankruptcy and then request to have their case dismissed before receiving help with their debts, but it does happen. In fact, a voluntary dismissal can be a good thing for those who may find themselves able to pay their debts on their own or no longer need the help of the bankruptcy court.

Withdrawing Your Case

Filing for bankruptcy can be a great way to achieve debt relief when you are unable to repay your debts through traditional means. However, if you were to obtain more income or negotiate your debts directly with creditors you may find you do not need the bankruptcy process.

You maintain the right to request a dismissal of your case at any time through a motion. It can take two or three days from the date of the request to receive a signed order from the court dismissing the case.  However, there are a few words of warning.

First, when your case is dismissed the automatic stay order is lifted, leaving you unprotected from credit collections. Any of your creditors may resume collection efforts against you at this time. Second, you may be required to wait 6 or more months before being eligible to file for bankruptcy again. If you are going to voluntarily dismiss your case, be sure you will not need bankruptcy protection again in the immediate future.

 

 

 


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