Can I stop my chapter 7 bankruptcy? 4 Answers as of August 27, 2010

I have too many assets that I do not want to be liquidated and I do not want to, or simply cannot, fulfill many of the requirements of my bankruptcy? Can I stop it? I filed on my own, but will a lawyer be able to stop it for me? Thank you.

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Law Office of Barbara Seeley Curtis
Law Office of Barbara Seeley Curtis | Barbara Curtis
It would be dismissed if you fail to attend meeting. If you have had your 341 meeting and been caught with assets SEE A LAWYER!
Answer Applies to: Florida
Replied: 8/15/2010
David Nelson
David Nelson | David Nelson
Absolutely you can have your case dismissed, you will have to file a motion to request the dismissal, and when you do you will have to provide a workable plan with documentary proof that you will pay everyone off. As a part of that plan, you will have to include your bankruptcy trustee as one of the creditors which must be paid off. Luckily, the last time that the issue came up, the trustee graciously agreed to be paid a percentage of the debts-paid rather than a percentage of the property impounded.

We made several offers to compromise the debts and were able to obtain agreements from the creditors reducing the principal balances so much that we were able to afford to pay the trustee the difference and have the total paid out the same as if the client had not filed a bankruptcy at all. Worked out great.

If you convert to a chapter 13 bankruptcy and pay for the stuff that your chapter 7 trustee wants to take away, that might be an option that could work for you.

There may be other options open to you, however, if you have already gone to your hearing and your Chapter 7 bankruptcy trustee wants to grab your stuff, you are probably better off just letting it go.

Ask your current attorney what to next.
Answer Applies to: California
Replied: 8/13/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
This is a very tough question. You might not be able to stop it. If you have not gone to court, you might consider not going and having the case dismissed. This, however, is not a guarantee. I would recommend you consult an attorney.
Answer Applies to: California
Replied: 8/13/2010
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