Can i walk away from chapter 7 bankruptcy if i dont do the counseling in the end?
2 attorney answers
Regretfully, not doing the credit counseling will not stop the trustee from selling your farm. It will only prevent you from getting a discharge order. If you wish to try and save the farm, you should look into the possibilities regarding some sort of a repayment bankruptcy, possibly chapter 12 or chapter 13. You might possibly qualify for one or the other. I recommend you see a competent bankruptcy attorney about your options BEFORE you do the credit counselling, and the sooner the better.
Not completed the Debtor Education (Financial Management) course will not stop the progress of the administration of assets in your Chapter 7 bankruptcy. Not completing the course only means that you will not receive a discharge of your debt. You may have options to keep your farm (i.e., conversion to Chapter 13), but you will likely need the assistance of an attorney to identify what is possible in bankruptcy at this time.