Wednesday, December 7, 2011

CAN I WITHDRAW MY CHAPTER 7 BANKRUPTCY PETITION?

The easy answer is maybe. The bankruptcy code allows a debtor to withdraw his or her petition provided that they have cause to do so, meaning they need a reason acceptable to the court. The bankruptcy court generally feels that incorrect legal advice or a misunderstanding of your rights is not proper cause for a debtor to dismiss his/her petition. The process for withdrawing your petition from the court is rather simple. First, a Motion to Dismiss must be filed with the court, and then a hearing will be scheduled. It is important to notify your bankruptcy trustee of your intention to withdraw your petition, and if the trustee either agrees with the motion or does not object, that will greatly increase the chances of having your motion approved. Finally, you or your attorney must attend the court hearing to present the motion to the judge and answer any objections. At that point, the judge will either grant your motion to dismiss or deny it, where you would then be faced with several alternatives which will be discussed in a later post.

WCZ
http://www.westmontattorneys.com

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