Can You Cancel or Annul Your Bankruptcy Filing?

The short answer to this question is “no,” you cannot cancel your bankruptcy filing and somehow undo the process. You may be able to dismiss your case, or your case may be dismissed by the court, but a dismissal is not the same thing as undoing the process. In other words, you cannot annul your bankruptcy filing like you might annul a marriage.

When you file your bankruptcy petition, a public record is created about your filing. At a minimum, your name and the last 4 digits of your Social Security number will be associated with a bankruptcy case number. This bankruptcy case filing will be picked up by one or more of the credit bureaus and under federal law, your bankruptcy case number will remain on your credit profile for up to 10 years.

If you file bankruptcy and change your mind, it may be possible to dismiss your case or allow your case to be dismissed, but, again, a dismissal does not remove the evidence of your filing from the public record or from your credit report.

Your ability to voluntarily dismiss your bankruptcy case will depend on whether you filed a Chapter 7 or 13. As a general rule, the Bankruptcy Code allows you to voluntarily dismiss your Chapter 13, although you should never do so without the benefit of counsel. You cannot voluntarily dismiss Chapter 7 without specific approval of the judge in your case and if you schedule non-exempt assets (or if the trustee suspects you have non-exempt assets), you may be forced to remain in your bankruptcy case even if you want out.