When all is said and done...am I really done?

[debtBgone]

...On a no-asset Chapter 7...

If I file in August...have my 341 meeting in September...and 60 days later (if no creditors object)...they close my case.....

Am I really done? Or will the Trustee's keep watching me for the next 6 months or so? You know, how I spend my money...if I get a raise?...if I get another part-time job?...how much I get as a tax refund?...if I take a trip to who knows where?....what's in my bank account?...

Just curious

[loveends1981]

Well, from what I know, once the 60 days are up and there are no more creditors coming after ya, the case is closed once you recieve your discharge papers... youre done. I dont think they can come after you.

[justbroke]

Am I really done? Or will the Trustee's keep watching me for the next 6 months or so? You know, how I spend my money...if I get a raise?...if I get another part-time job?...how much I get as a tax refund?...if I take a trip to who knows where?....what's in my bank account?...

Once sixty (60) days has elapsed from the time of your first scheduled 341 Meeting, you get a discharge. (There are a few exceptions when the U.S. Trustee, for cause, asks the court to extend it, but that is very rare.) Your closing will follow shortly thereafter if you are a no-asset case. Asset cases take a little longer for the Trustee to deal with the non-exempt assets (and could take a year awaiting things like property to sell, or a tax refund to be obtained).

As for what happens after your discharge... usually nothing. The Trustees tend to not bother you after discharge. However, if you were to receive an inheritance or some other death benefit within 180 days of filing, the Trustee may be entitled to recover some of that property. This rarely happens, but it does and has happened many times.

Other than that, the Trustee couldn't care less about your job, how much money you have in the bank or where you live. Now if the Trustee detects some fraud later -- or it's brought to their attention -- they can have the case re-opened in order to vacate your discharge. That also, rarely happens.

So, why even worry? The circumstances in which a Trustee would delve back into your finances are extremely rare. The cases in which they do are usually cases where there was some fraud to begin with.

[eddiep]

I also believe the trustee can take your tax refund next year unless you exempted it.

[justbroke]

I also believe the trustee can take your tax refund next year unless you exempted it.

Great point eddiep.

The Trustee is entitled to a pro-rated portion based on when you file. If you file in June, they are entitled to approximately 1/2 (one-half). So, likewise, if you file in January, they get nothing.