I had filed a chapter 7 and in the middle of it inheired alot of money from my Grandma. Can my bankruptcy be stopped? Or do I have to change to a 13?
2006-11-28 16:23:24 · 8 answers · asked by GraciAnne 1 in Politics & Government ➔ Law & Ethics
When you get before the court, explain that you have had a change in your life and would like to quash your application for protection under chapter 7 bankruptcy code, you shouldn't have to change to chapter 13 or any other chapter. Let the judge know you no longer need bankruptcy protection and can pay all your bills in full immediately, though your credit is going to be shot anyway.
2006-11-28 16:44:08 · answer #1 · answered by yellowkayak 4 · 0⤊ 0⤋
You can ask to have your case dismissed, but if you do, all your creditors will come after you for the money you inherited. Even if you don't dismiss your case, your inheritance will have to be used to pay toward your creditors. The trustee will deem your case to be an asset case, and will seize the inheritance to pay your creditors.
If you switch to a chapter 13, you will be able to spread the payout over the years.
One last thing, even if you dismiss this case, the bankruptcy filing will stay on your credit for years. Once you file, it's part of your record even if the case is later dismissed or denied by a judge.
2006-11-29 07:56:08 · answer #2 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
Your always allowed to withdraw from a bankruptcy chapter 7 or 13. If you just got a lot of cash and want to clear your name, ask your lawyer to help you negotiate a settlement with all your creditors. If it has gone to court, I'm sure you have a shark. You may even feel a lot better about yourself and be able to hold your head higher. Taking good care of your mental game is just as important as your financial game. Follow your gut, good luck
2006-11-29 00:46:33 · answer #3 · answered by Wildturkey87 1 · 0⤊ 0⤋
You are stuck. You can change to a 13 if you want to, but the bankruptcy must go on depending on what you have to lose. You need to discuss this with your attorney. If you don't have one, get one.
Take Care
2006-11-29 00:30:51 · answer #4 · answered by escapingmars 4 · 0⤊ 0⤋
You can dismiss your Chapter 7, but you will then have to pay your creditors.
2006-11-29 00:31:03 · answer #5 · answered by RLP 3 · 1⤊ 0⤋
Yes there are ways to stop it or change it. You really need to talk to a lawyer my friend.
2006-11-29 00:39:14 · answer #6 · answered by ancestorhorse 4 · 0⤊ 0⤋
Yes you can stop it if you can make a written peaceful agreement with all of your creditors
2006-11-29 00:34:48 · answer #7 · answered by ? 7 · 0⤊ 0⤋
no
2006-11-29 00:26:11 · answer #8 · answered by jdmj86 1 · 0⤊ 0⤋