Report of No Distribution!

[crescentmoon]

Just saw this on Pacer (entered on Saturday, no less!)

Chapter 7 Trustee's Report of No Distribution: I, TRUSTEE, having been appointed trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to Fed R Bank P 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. I request that I be discharged from any further duties as trustee. Key information about this case as reported in schedules filed by the debtor(s) or otherwise found in the case record: This case was pending for 2 months. Assets Abandoned: $ XXXXX, Assets Exempt: $ XXXXX, Claims Scheduled: $ XXXXX, Claims Asserted: Not Applicable, Claims scheduled to be discharged without payment: $ XXXXXX. (Trustee) (Entered: 11/21/2009)

He isn't going after the money that we repaid my mother earlier this year (she took out an cash advance on her credit card, and we paid her and she paid the card) so we're in the 60 day club! So happy!

One question though - what are abandoned assets?

Thanks so much!
KBB

[lrprn]

One question though - what are abandoned assets?

First, congrats on the discharge, KBB!

As I understand it, abandoned assets are items, property, and/or cash left partially or fully unprotected by your state's bk exemptions that your trustee considered going after. However, in the end in your case, your trustee decided the assets in question weren't worth the trouble.