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    #1

    Bankruptcy Time Line?

    I had a question about the bankruptcy timeline. We filed 8/31/2006 and were discharged on 12/4/06 but we had a asset case so we are still in limbo. The trustee took our tax return back in March. It is near the end of May and she hasn't filed a proposed distribution or anything of that sort with the court but she has filed for compensation. Is that normal? What is the timeline for an asset case.

    Thanks,
    Ruth
    Tags: None
    #2
    I don't have an answer for you, since we just filed in March and are no asset. But I am sure someone will have an answer for you.

    Good luck.
    3/30/07 Petition signed
    5/21/07 341 Meeting
    7/20/07 Last day for Objections
    7/25/07 DISCHARGED 7/30/07 CLOSED

    Comment

      #3
      With an Asset case,............. Once the Trustee receives monies from the Debtor/Filer, or from sale of property, the Trustee notifies all Creditors there are monies to be had.

      I **believe** Creditors have 60 days to file Claims for a piece of the Asset Pie. Then the Trustee decides who will be paid how much, distributes payments to the Creditors, performs a Final Audit of the Case, and then the BK can be Closed.
      Filed Ch 7 - 09/06
      Discharged - 12/2006
      Officially Declared No Asset - 03/2007
      Closed - 04/2007

      I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

      Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

      Comment

        #4
        That sucks, mine ended up being an asset case for awhile and me and the lawyer were really bewildered as to what the Trustee was looking for as I do not even own a house, just my car. FINALLY he discovered there were no assets and now I'm just waiting for the admin part for the case to be CLOSED once and for all.

        Best of Luck, CMIYC
        July 2006: Filed Ch13 :blink:
        Oct 2006: Converted to Ch7 :clapping:
        Jan 2007: DISCHARGED :clapping:
        Nov 2007: CLOSED :yahoo::yahoo::yahoo:

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