Can you dismiss your own bankruptcy

[catwhisperer]

Hello Its Me,
We've decided to let the bank get their judgment and then when they try to enforce it to have the bankruptcy papers ready to go. May sound dumb - actually saying it makes me think again. But anyhow,
if I file pro se and the trustee starts to take our subchapter S corp or do something we really would rather they don't, can you stop your own bankruptcy? We may be in a position where we start to make more of a reasonable income, $30-36,000 per year which I think is below the means test for income but our expenses are next to nothing. The judgment is the only thing making us file, the credit cards are past the statute of limitations. ANy thoughts?

[Credit Hater]

How much is the judgement for?

[catwhisperer]

I know it doesn't sound like much, but it is thousands to us. We had a trailer repossessed, they sold it at auction WAY below FMV, and the balance due plus legal costs is $6000. Ironic thing is this is all interest that the bank is going after, they basically got paid for the cost of the item.

[SinkingFast]

One problem I see with where you're going with this plan is you could wind up with 2 dings on your Credit. One for the Judgement and one for the BK.

I'm guessing you had a Written Contract for the loan on the trailer. Have you checked the SOL on Written Contracts in your State? Maybe the trailer is soon to be beyond that as well. Also, some States have a SOL on how long parties have to file suit. How long since the trailer went back and was sold? Maybe the Creditor is getting to or beyond their time limit to pursue the money anyway.

You probably need to do some more research before deciding what's the best course of action to take in your situation.

[NASCAR20FAN]

One problem I see with where you're going with this plan is you could wind up with 2 dings on your Credit. One for the Judgement and one for the BK.

I'm guessing you had a Written Contract for the loan on the trailer. Have you checked the SOL on Written Contracts in your State? Maybe the trailer is soon to be beyond that as well. Also, some States have a SOL on how long parties have to file suit. How long since the trailer went back and was sold? Maybe the Creditor is getting to or beyond their time limit to pursue the money anyway.

You probably need to do some more research before deciding what's the best course of action to take in your situation.

Yeah, best thing to do is just finish the BK.

[catwhisperer]

My credit is so destroyed, the judgment or BK really won't matter and I don't care about credit except for a mortgage at some point because I never intend to get in the credit card trap and we buy disposable cars with cash.

Anyhow, if I file bankruptcy, a personally guaranteed loan for a business may be in great danger and I could lose my business too.