dismissing case after filing petition

[sun1set]

I'm filing on Wednesday. I'm currently unemployed but will be getting a great job (hopefully!) very soon. I will be have pretty good income to pay for my living expenses and fund some savings - I currently have no savings or retirement and I'm 34 yrs old. I'm absolutely full of fear about the long-term implications my bankruptcy (7) will have on my life. There is so many unknowns. I'm filing because I have 70K in cc debt, no assets and feel like time is running out because the laws are changing next week. In some ways I think its good to just get the filing in now and then I can always back out.

If I file now, and decide later that I don't want to go through with it and asked to have my case dismissed what gets reported to the credit agencies? what will be on my public record? Will everyone still get to see that I filed a petition, but didn't proceed? I'm thinking I might be making enough money in a couple of months to negotiate with my creditors and work something out. Or at least I could try Consumer Credit Counseling as opposed to dealing with bankruptcy on my record. Any advice?

[StaciMM]

BK filing is noted on your credit report, even if it doesn't go all the way thru. If for some reason it were dismissed, it would say that. I understand that you generally don't have the option to just dismiss your 7. About the only time you might have that option is if you submit to pay the filing fee in installments, and then don't make one of the payments.

[edwards2]

If you can avoid BK by all means do. You might try doing a pre-negotiating with your creditors to see if they will work something out with you. As for consumer debt counseling the majority of people have little or no success with them but you might be one of the fortunate ones.

[Lightning]

A bankruptcy filing stays on your credit report regardless of whether or not it was discharged. It will certainly count against your credit even if you do / can withdraw the petition.

The cliché "don't count your chickens..." comes to mind with your optimism about your potential job. If you get it (which I hope you do), remember how you feel now about your current financial state and make the necessary changes to prevent it from happening again. Spend less than you make. Contribute to your company's retirement plan and / or an IRA (regular or Roth). Save at least 3 months of living expenses in a savings account.

[sunshine08]

I concur 100% with lightening!!!!!!!!!

[sun1set]

believe me - if I actually do pull the trigger and file or choose not to - I will absolutely NEVER do what I've done again. I'm in a recovery program right now which has helped tremendously. Debtors Anonymous is very helpful in getting to the root of all my money issues. Thanks for responding to my post.

[BOA]

Dismissal

The post 7 thread indicates that that dismissal is not normally voluntary on the part of the filer. The court can dismiss your petition though.

What are the repercussions of getting you petition dismissed?

What if you file at the last minute pro se trying to get under the umbrella of the old law, the paperwork is somehow wrong what happens next. Can you refile directly again under the new law or do you have to wait several years?

Does the court date stamp a petition when it arrives and is that then the official date of the bankruptcy filing or is it the date of the signature on the paperperwork?

[StaciMM]

BOA-

The date the court receives the paperwork is going to be the file date. If you sign it on Friday but they don't get it until Monday, its filed on Monday.

As for dismissal, if the court dismisses the petition (such as for abuse of the system) then they may stipulate a time that you have to wait to refile. If its dismissed for something else, such as not paying the filing fee installments, there is probably no waiting period or only a short one. (Keep in mind it might take time to be dismissed.)

[Minnymouth]

What purpose would it serve for you to "file" then try to have your case dismissed later??? It will still affect your credit report.....
Hanging on the "fence row" will not solve your problem....you either need to file or not file....
Why waste the money filing if your going to try to get it dimissed??
In other words if the bankruptcy DOESN'T go like you want it too, then you want to dismiss it??? Right???

Doesn't happen that way, court decides dismissal's....

What's the purpose??

Minny