How long does it take

[hankhill]

My wife and I had our 341 meeting yesterday. How long does it take generally for the trustee to file a report of no distribution? For some reason, I thought it would be really soon.
Thanks

[hankhill]

Also, when does the 60-day wait begin. After the 341 meeting or after the trustee makes his report of no distribution?
Thanks.

[BrokeinMD]

The 60 day club, if you're in a 7, begins from the date of your 341.

The report varies from trustee to trustee, state to state. Mine still hasn't filed his yet, and I'm past the 60 day club! It's what you heard at the meeting that counts.

[hankhill]

We listened to a bunch of the other meeting and some seemed very complicated and others very simple. At the end of some, he said he declared it was a no-asset case. He did not at ours.
He questioned us extensively about items we have in storage and a coin collection that we have. We had to explain --- or at least attempt to --- why we pay so much in storage fees compared to what we have listed as assets. Unfortunately the items we have stored are about 50 percent decent household, garage, outdoors, etc. items and the rest is stuff we really need to get rid of. These are things we cleaned out of a house that we were preparing to sell and are worth very little. We both work full time and have just not gotten around to it. Plus my wife sort of has hoarding issues, but I couldn't bring that up. That would have been very embarassing for her.
The coin collection, I got the impression, he didn't like how I explained I put a value on it. It's made up of coins I collected when I was a kid. They are coins that have been circulated and are all low grade. I told him I figured out the "melt" value that a dealer would give me if I sold them, but he kind of looked like I was full of it.
Now we're both really stressed and kind of angry at our attorney. He told us we didn't need a detailed list of what was in storage, but I think the trustee would have felt better about our values if we had presented him with more detail than what we had, not just the generalized statements that the attorney told us to put down. Our instincts, I believe, were better.
Thanks for listening. Just really stressed out.

[ohantonio]

A single guy that went before us was also questioned about his $125 monthly storage fee. The trustee asked him what the value of the items in the storage unit was to constitute paying $1500 a year. The guy said it was about $2000 worth of furnishings from his previous marriage and the rest was "sentimental" stuff. I thought that was a good answer and the trustee must have too because he didn't ask anymore questions.

[chicagoannie]

My report of no distribution showed up on Pacer the day after my 341.