Notice of Claim

[Bob Walker]

Hi everyone!

My case has been open now for almost a year as the Trustee is trying to recover certain assets. I recently received a Notice of Claim that was also sent to all the creditors letting them know that the Trustee recovered some assets.

There is a deadline to the filing of claims, but my question is this:

"If there are no recovered assets, what happens next?"

I would have to assume because the case will have been opened for a full year after this deadline that the Trustee needs to see if any of them still want to lay claim even after the 341.

Could someone explain this part of the process to me and the group as well as what happens next?

Thanks

[keepmine]

If the trustee collects no assets, nobody gets paid.

[FreshLikeADaisy]

I'm wondering how it is your trustee is convinced he has, or is going to, recover assets and you're convinced he's not. I haven't seen your letter, only a generic Notice of Claim, but that doesn't promise that any assets will be recovered, only that creditors should file a claim because they *might* be.

In either case, like Keepmine said, no assets, no payouts. Basically, everyone's all dressed up and nowhere to go. The discharge itself is unaffected by lack of assets to pay claims, it's just a matter of when the trustee wants to declare "no asset" and go ahead and discharge/close your bk. For whatever reason your trustee thinks that there are assets to be had, hence the notice of claim, and it may just be that you have to wait until he tires of the pursuit, IF there are actually no assets to be had. I would imagine that you already have a pretty good idea of what he's zeroing in on, depending on the nature and extent of the documents he has requested of you.

Maybe someone with more precise knowledge can chime in here, but that's my basic understanding of where you are at right now. Good luck!!!

[Minnymouth]

Evidently there are assets available to the Trustee and he has notified creditors that if they have a claim, they need to file it....
This could be a tax refund, resale of a home or property, etc....
Only when assets are available does the Trustee notify creditors that they need to file a claim. Otherwise he doesn't contact them.

In "no asset" cases creditors do not file claim....

If you have been discharged...... then you are really over and done with as far as your case is concerned. The rest is "little things" that the Trustee cleans up, sells, etc and settles up with creditors regarding any funds he may take in on your case. Also he final report to the Court and getting your case closed out.


Did you surrender property or funds of any kind?? Something to create an available asset??