Legal Question in Bankruptcy in Virginia

bankrupcy

my bankrupcy was filed in Oct. and and the inheritance came in Nov. the plan was not accepted and was to be heard again in Dec. can I stop the bankrupcy? and what can I expect to happen


Asked on 11/23/08, 10:47 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: bankrupcy

It sounds like it is a chapter 13. If so, and as long as it has never been converted from another chapter, you can dismiss it at any time. However, discuss this with your bankruptcy lawyer, as dismissal can affect your right to re-file and the right to an automatic stay upon refiling. Dismissing would let you keep the inheritance, but your creditors still have their claims against you, and lawsuits and foreclosures stopped by the bankruptcy can again move forward. So ask your lawyer what is the best option for you. If you don't have a lawyer, get one now.

We practice bankruptcy throughout Va. and would be glad to help - feel free to contact me if you wish to discuss this matter.

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Answered on 11/23/08, 10:58 am


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