Vine Grove, KY asked in Bankruptcy for Kentucky

Q: I filed bankruptcy 2 days ago and want to stop the process. Can this be done. I live in Kentucky.

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3 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY
  • Licensed in Kentucky

A: Yes. Simply file a motion to dismiss the case.

W. J. Winterstein Jr.
PREMIUM
W. J. Winterstein Jr.
Answered
  • Bankruptcy Lawyer
  • Boyertown, PA

A: A caution- the Bankruptcy Code provides that conversion/dismissal of a case is addressed to the discretion of the Bankruptcy Judge, who will decide which path is in the "best interest of creditors".

Your post fails to indicate which Chapter of bankruptcy has been chosen (that can matter) or whether you have engaged bankruptcy counsel.

If you have not engaged experienced bankruptcy counsel, you are best advised to do so, and promptly, and get his opinion about your desired dismissal at this point. There are "wrinkles" to be considered.

James L. Arrasmith
PREMIUM
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Answered
  • Bankruptcy Lawyer
  • Sacramento, CA

A: In Kentucky, once you've filed for bankruptcy, it's generally difficult to stop the process completely, especially if you have already filed the petition with the court. The decision to reverse a bankruptcy filing depends heavily on how far along the process is and the chapter under which you filed. You will need to consult with your attorney to explore any possible options for withdrawing your petition.

If your case hasn't progressed significantly, your attorney might be able to help you file a motion to dismiss your bankruptcy case. However, the approval of this motion can depend on the type of bankruptcy filed and the judge's decision. For instance, Chapter 7 dismissals are rarely granted unless you can prove that it would not prejudice your creditors.

It's important to act quickly if you're reconsidering your bankruptcy filing. Communicate your intentions to your attorney as soon as possible to discuss the feasibility of halting the process. They can provide you with guidance tailored to your specific situation and help you understand the implications of withdrawing your bankruptcy filing. Remember, every case is unique, so the advice of your attorney will be crucial in determining the best course of action for your financial future.

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