Discharged! Not closed, looking for assets

[Rbs]

Filed 5/10; Discharged on 8/23! Ask my lawyer if I'm done. He said its' not closed yet due to The Trustee is investigating the possibility of assets. He said not to worry. Easy for him to say! He thinks the trustee is overwhelmed with cases and trying to buy time. My question, trying to get an answer, is I have a home with no equity at this time but if it appreciates can they come back for it. I'd like to make some small improvements but still worried about losing it. Anybody have suggestions?

Thanks in advance

[HHM]

The value of the home is set at the time you filed and certainly cannot be reassessed after discharge. So, if the home appreciates in value (which would be a rare feat in this real estate market) after discharge, the trustee cannot go after that equity.

This thread here, http://www.bkforum.com/showthread.php?t=10879, will give you some background on the difference between discharge and closing.

[Rbs]

Thanks HHM. At the end of your post, in your opinion did you mean the trustee 'can' or 'cannot' go after the increase in equity? I agree that adding equity would be a feat in this market.

[HHM]

Thanks HHM. At the end of your post, in your opinion did you mean the trustee 'can' or 'cannot' go after the increase in equity? I agree that adding equity would be a feat in this market.

Opps, left out the most important word...cannot (but I fixed it).

[Boscoe]

Anyone else who is reading this:

Discharge date is the effective end date for the debtor - means you are legally free from ever paying back the debt you intended to discharge (i.e. debt you are not reaffirming).

Closing date is an administrative closing of the file - means nothing regarding anything discharged or exempted from the bk estate.

So, no worries! You are done.