CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Help I Regret Filing for Chapter 7 Bankruptcy

bankruptcy regretBankruptcy isn’t the right choice for everyone. Depending on your unique financial situation, you may be able to find other options that better suit your needs. But what if you file and later wish you hadn’t? What can you do if you have bankruptcy regret?

Before deciding to file for bankruptcy, it’s important to understand all of your options.

You should also consider how bankruptcy will impact your future finances and credit rating.

If you’re struggling with debt, there are many resources available to help you get back on track. You may be able to negotiate with your creditors, or set up a payment plan that works for both sides.

Unfortunately, some people fail to realize they have other options. Maybe a relative pressured them or they signed on with an aggressive bankruptcy attorney. They might not know where to go to learn more about dealing with debt. If this happened to you, but now you’d like to take back your decision to file, is this possible?

If you regret filing for bankruptcy, there are a few things you can do.

Rescind Your Petition

First, you can try to rescind your bankruptcy petition.

Rescinding a bankruptcy petition is a serious decision. Do not make it lightly. When a person rescinds their bankruptcy, they are essentially giving up the protection that bankruptcy offers. This means that their creditors will once again be able to pursue them for payment and they will no longer have the ability to reorganize their finances.

This is only possible if you filed for Chapter 7 bankruptcy and did not receive a discharge. To rescind your petition, you must file a motion with the court and show that you have changed your mind about pursuing bankruptcy and have the financial means to repay your debts.

Negotiate with Creditors

If you cannot rescind your bankruptcy petition, you can try to negotiate with your creditors.

This is often possible if you filed for Chapter 13 bankruptcy and are still in the repayment period. You can contact your creditors and explain your situation. Many creditors are willing to work with debtors who regret filing for bankruptcy and are willing to repay their debts.

If you have already received a discharge in your bankruptcy case, you cannot undo the discharge. However, you can still try to negotiate with your creditors. Many creditors are willing to work with debtors who have received a discharge in their bankruptcy case if they are willing to repay their debts.

Remember, even if a debt was discharged in bankruptcy, you still have the option of paying it.

You just aren’t legally obligated to do so.

You also have the option of negotiating with creditors regarding debts that weren’t discharged. Not all debts are eligible for discharge in bankruptcy.

Reversing or changing a bankruptcy once the process has begun can be challenging, but it might be possible. The best thing you can do is speak to an experienced attorney about your situation to determine what your options are and if you can make changes to your case’s status.

To learn more, contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How Does Filing for Bankruptcy Affect a Vehicle Loan?

If you're considering bankruptcy, you may be wondering if you'll be able to keep your car. The answer depends on...
Read More

8 Ways to Deal with Student Loan Debt

If you're one of the millions of Americans saddled with student loan debt, you're probably looking for ways to minimize...
Read More

Tips for Handling Credit Card Debt

If you're struggling with credit card debt, you're not alone. The average American household owes nearly $6000 in credit card...
Read More

Don’t Fall for These Common Bankruptcy Myths

There are a lot of misconceptions out there about bankruptcy. Working with a debt defense attorney is one of the...
Read More

Can Filing for Bankruptcy Affect My Career?

It’s common for people considering bankruptcy to wonder how filing affects their job. The answer to this question depends on...
Read More

Can I Fix My Credit After Bankruptcy?

Wondering how to improve credit after bankruptcy? Here's what you need to know. Bankruptcy can be a fresh start for...
Read More

What Happens If I Can’t Afford Chapter 13 Bankruptcy?

Are you wondering what happens if I can’t afford my chapter 13 payments? Here's what you need to know when...
Read More

Help I Regret Filing for Chapter 7 Bankruptcy

Bankruptcy isn't the right choice for everyone. Depending on your unique financial situation, you may be able to find other...
Read More

How a Bankruptcy Attorney Helps You Avoid Problems When Filing

Do you know what mistakes to avoid when filing for bankruptcy? If you're considering filing for bankruptcy, it's important to...
Read More

These 7 Common Bankruptcy Mistakes Can Cost You Thousands

Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay some or all of their debts....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions