After my 341 hearing the trustee informed me that I am over the limit of income to qualify. He is including my car allowance as part of my gross income while my attorney, who I paid $2,600 to, told me that they would not include this as part of the income calculation. So, I would rather negotiate with my debtors and keep my car, cash, etc...than give it to the trustee. Can I retract my Chapter 13 filing now?
2007-03-07 13:28:11 · 4 answers · asked by littleroller1150 1 in Business & Finance ➔ Credit
Yes, you can pull out of a bankruptcy plan at any time. However, it will unfortunately remain on your credit report. There's no way around it.
Unless you own property besides the house you live in talk to your lawyer about converting it to a chapter 7. Your lawyer will know your best options. Although I can't believe that you paid your lawyer $2,600 upfront...most plans include the lawyers payment within the plan (other than a down payment to cover initial filing costs). Maybe get another opinion from a professional.
Good luck to you.
2007-03-07 13:49:45 · answer #1 · answered by Mary R 5 · 0⤊ 0⤋
At this site you can find solutions from different companies: QUOTEHELP.NET-
RE I have filed for chapter 13 and now I want to back out. Can I?
After my 341 hearing the trustee informed me that I am over the limit of income to qualify. He is including my car allowance as part of my gross income while my attorney, who I paid $2,600 to, told me that they would not include this as part of the income calculation. So, I would rather negotiate with my debtors and keep my car, cash, etc...than give it to the trustee. Can I retract my Chapter 13 filing now?
2014-10-15 09:57:44 · answer #2 · answered by Nathanil 1 · 0⤊ 0⤋
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
2007-03-07 23:39:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can withdraw, but you better be current on all of your obligations. You must petition the court to withdraw.
By the way, a car allowance IS considered income, even on your taxes.
2007-03-07 21:33:00 · answer #4 · answered by khill 2 · 0⤊ 0⤋