Awaiting Discharge

[notlongnow]

I had my 341 yesterday. Thankfully, it went smoothly. On pacer the Trustee filed a report of no distribution. My status says awaiting discharge. Is that a good sign, or does it always say awaiting discharge after the 341?

[justbroke]

"Awaiting Discharge" is what it should say after a 341 Meeting. Prior to the meeting it may have had at least two statuses; Awaiting 341 Meeting and Awaiting Discharge.

It is a good sign when the (Chapter 7 Panel) Trustee no longer wants anything to do with your case as they asked to be excused because there is nothing to administer. You just need to wait your 60 days and everything should be quiet.

[notlongnow]

Thank you, Justbroke!

[DMEN1230]

I am at day 16 and it says awaiting discharge but I have not seen any notes by the trustee. It still says meeting held with the trustees name. Is this good or bad???

[justbroke]

That status is exactly as it should be; simply, Awaiting Discharge.

I don't know if you're an asset case or not. If you're an asset case, then the Trustee may be waiting to see if you have a tax refund (once your tax return is filed). I can't tell you if that's the case. Some Trustees are a little more slow filing their "Report of No Distribution" if there is no money to distribute. In most cases this close to the end of the year, many Trustees want the tax refund unless it was otherwise exempted.

If there are no other flags on your case, then you are just counting down the 60 days from your 341 Meeting. I call this the "anxiously awaiting and annoyingly quiet period".

No news is almost ALWAYS good news in bankruptcy (when awaiting discharge).

[DMEN1230]

It was a chapter 7 no asset case. The trustee never asked or mentioned my tax returns. The only thing he needed to see was a copy of the deed to my mother's house which I am listed under as a irrevocable trust. My lawyer was supposed tk email to him which should have been done.

[justbroke]

It was a chapter 7 no asset case. The trustee never asked or mentioned my tax returns. The only thing he needed to see was a copy of the deed to my mother's house which I am listed under as a irrevocable trust. My lawyer was supposed tk email to him which should have been done.

Maybe that is what the Trustee is awaiting before making a final determination as to whether this is an asset case or not.

[DMEN1230]

Thanks for replying it is actual a revocable trust so I am not entitled to anything. I was checking Pacer and all of the other cases on that date have notes in by the trustee except mine. I am just hoping this does hold up or effect my potential discharge. At day 22 and notes still say meeting held.

[justbroke]

These sorts of matters (matters related to assets) do not hold up discharges. It would only hold up the administrative closing of your case. I can't speak for the Trustee or make an "educated" guess as to what they may be doing. Again, the Trustee may be trying to see just how strong the trust documents or how the revocable trust is protected.

[DMEN1230]

At day 42 can't wait until 12/27/16. Status is still awaiting discharge - with meeting held - still no notes by the trustee.
Credit Karma has my scores at 710 and 714 and says I am doing a great job since I have not debt as of right now.
As of today I still have 4 open credit cards.
Kohl's - 600
Firestone - 2200
Barclay Visa - 4000
Capital One card - 5400
As for the capital one card - I did not even know I had it open - have not used it since 2012 and I do not know the CC number or expiration date.
To make matters worse Capital One has started sending me credit card offers - to help rebuild my credit. They did close 5 credit cards on me - none of them had a balance at the time and I did not include them in my BK.
Do you think the other cards will stay open after the discharge and will by credit scores go up or down after the discharge?

What would happen if I had to use or tried to use one of the open CC's - is that allowed or should I wait until the new year?

Thanks,

[justbroke]

If you found the status of these accounts, as "opened", based on a credit report, I would be wary. I still have several accounts that are "open" although they were closed in the bankruptcy. For some reason, the creditor never reported them as closed and/or IIB (included in bankruptcy).

I would wait for my discharge. I did something stupid. One of my "open" accounts was a Jared's account that had a zero balance at the time of filing and had a $5K limit. After discharge, I went to up the CLI and not only did they then close the account, they then notated it as IIB. I should have never touched it because the $5K was helping my utilization (since it wasn't be used). Of course, you mileage may vary.