What if I change my mind about my Arizona Bankruptcy?
When you file for bankruptcy protection, can you “cancel” or “change” your case once you have submitted your petition to the court? That may depend.
Unfortunately for many filers, there is no way to undo a filing. Whether you can dismiss your case depends on the Bankruptcy Chapter within which you file.
After filing, you can voluntarily dismiss a Chapter 13 case, but if you decide to file again within the year, you may lose the protection of the automatic stay. Bankruptcy’s automatic stay, one of the more valuable aspects of filing, will expire 30 days after filing unless a Motion to Extend Stay is filed with the court, and the judge in the case approves the extension.
However, if you file for Chapter 7 bankruptcy, you have no right to voluntary dismissal. The trustee and creditors can object to dismissal.
Most people who wish to get out of bankruptcy after filing want to do so because they miscalculated the result of a bankruptcy filing, not understanding the process. The best way to avoid such a mistake is to talk to a qualified bankruptcy attorney before filing, so that you can be fully informed and advised on what your best strategy might be.
