QUESTION
When you dismiss a Chapter 11 bankruptcy, do the unpaid vendors have recourse to come back to you for payment even though there are no assets?
Asked on Jul 12th, 2013 on Bankruptcy - Missouri
5 ANSWERS
Yes. If a case is dismissed, that means that you did not receive a discharge and the creditors can come after you again the same as they could have before you filed bankruptcy.
Answered on Jul 15th, 2013 at 10:33 PM
When you dismiss any bankruptcy, you are back to square one in terms of owing debt.
Answered on Jul 15th, 2013 at 1:09 AM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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Yes. When a case is dismissed it is as if the case were not filed to begin with. At the time of dismissal, the automatic stay (which acts as an injunction against debt collection) is lifted and creditors can proceed with their collection efforts. This answer was provided as a public service to a question posed on the Law Q & A website. The answer is based on the information provided and is limited to those facts. Additional information could change the context of the question and materially change the answer.
Answered on Jul 15th, 2013 at 1:09 AM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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If the case is dismissed then the creditors can pursue their claims. If the case is Discharged then the Creditors cannot pursue their claims.
Answered on Jul 15th, 2013 at 1:08 AM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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They can sue you. If they get a judgment, it is up to them to find any assets to satisfy the judgment.
Answered on Jul 14th, 2013 at 11:13 AM