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Chapter 13 Withdrawal

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    #1

    Chapter 13 Withdrawal

    Is it possible to withdraw a Chapter 13 Petition after it is filed? After filing a Chapter 13 to save my home from foreclosure, I find working with the lender directly would be the simplest way to go and save the little bit of credit I have left. Can I withdraw my application prior to the 341 hearing? I have a file number at this point but the first meeting is about 6-8 weeks away. All foreclosure proceedings have come to a screeching halt. Am I looking for any type of contempt or Federal Law Violation by having an open dialogue with the lender while the Chapter 13 is in it's process? Thanks for your help. By the way, I have an Attorney that I paid 2500 to file the Chapter 13. He may do head stands when I tell him I'm talking to the lender and want to withdraw the Chapter 13 Filing? Basically, I am protected for now from foreclosure, but want to leave my best option open. The lender is willing to make a deal, applying some of the arrearage to the back of the note, etc. Any thoughts?
    Thanks again...
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    #2
    Hi,

    Yes, you/your attorney can withdraw your Chp 13 petition. However, chances are high that you'll have to eat all the fees already paid. You'll just need to furnish an explanation other than the "truth". Have you carefully considered how withdrawing your Chp 13 may impact you, with regards to other debts you were going to repay?

    Good Luck!
    Last edited by HRx; 03-01-2005, 01:04 PM.
    The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

    Comment

      #3
      It is rarely in anyones interest to dismiss a chapter 13 when the reason for doing so was a foreclosure. Yes, you can voluntarily dismiss your case. However, that means you cannot re-file for 6 months. And if your mortgage company decides to change its mind and not work with you, they will be able to complete the foreclosure before you can legally re-file.

      The damage to your credit is already done, your home is in foreclosure, a Chapter 13 isn't going to make it any worse. (plus, you already filed, so the public record of your BK is already out there and can be reported on your credit report).

      Comment

        #4
        Thanks for your help!
        I guess somewhere down the road, I can pay off the arrearage before the 60 months is up and still get a release of the lis pendins? So true about the Mortgage Company changing their mind after dealing (in what appears to be good faith) I would be in a shootout with no gun.
        This has helped and have a great day!

        Comment

          #5
          Mortgage lenders don't like having to foreclose on properties. Just get everything in writing, whenever negotiating with a lender towards any type of reaffirmation contract!

          Good Luck!
          The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation.

          Comment

            #6
            Chaptere 13 Withdrawal

            Hi Wyatt,

            If you can get your Chap 13 Withdrawn and it has not been filed yet, and there has been no report of it to the Credit Bureau, I would WITHDRAW.

            Never file unless you have to. I filed Chap 13 and by the time it came to court I had worked out payments and paid off all of my creditors so when the Judge started the case I had my lawyer ask to have the Chap 13 Dismissed.

            Well, it was dismissed but, It still went on my Credit Report and it is still there now and that was sept. of 2002. It will be on there for 7 years even though it was dismissed and never executed.

            So, if you can, Avoid filing with the court

            Your friend, who has been there.

            Ron Todd

            Comment

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