OK, here's the deal....I was made an asset case directly after my 341, and received my discharge on 12/14.
My "asset conversion" was due, in part, to the TT anticipating a tax refund (this was a blanket statement made to all the petitioners at my 341 time slot). There won't be a refund (I actually owe about $1200 this year), so I'm not concerned about that.....
There WAS a "preferential transfer" (If you really want the circumstances to provide an honest response, I'll be happy to PM them, but don't really want to post the details on a public forum - I was honest, I disclosed it and even stammered a bit during the 341 when questioned about it) listed in my petition that my TT hired a law firm to pursue. The law firm in question contacted the recipient, and the recipient doesn't have the $$ to return it to the estate (and no hope of having it at any time in the forseeable future).
The recipient offered immediately to the law firm to begin making payments against it. At the rate of $50.00 / mo., which truly is about all he can afford. This would take about 10 years to pay off. Attorney mulled this over for a few days, and then told recipient that based on the overall facts of the case, she was reccomending to the TT that he "should move on, there's nothing to see here".
That was the last that the recipient has heard from the TT's lawyer.
My case is still showing as open, and as asset, and at this juncture, I am assuming that once I submit my no refund tax return to the TT's office, I should see a closure of my case within a short time period thereafter.....
Does the community concur? Or do I have to worry about the TT making me make up the "missing asset"?
Could my discharge possibly be in danger?? I was completely honest about the transaction in the petition, and at the time it was made, I was NOT insolvent.
My "asset conversion" was due, in part, to the TT anticipating a tax refund (this was a blanket statement made to all the petitioners at my 341 time slot). There won't be a refund (I actually owe about $1200 this year), so I'm not concerned about that.....
There WAS a "preferential transfer" (If you really want the circumstances to provide an honest response, I'll be happy to PM them, but don't really want to post the details on a public forum - I was honest, I disclosed it and even stammered a bit during the 341 when questioned about it) listed in my petition that my TT hired a law firm to pursue. The law firm in question contacted the recipient, and the recipient doesn't have the $$ to return it to the estate (and no hope of having it at any time in the forseeable future).
The recipient offered immediately to the law firm to begin making payments against it. At the rate of $50.00 / mo., which truly is about all he can afford. This would take about 10 years to pay off. Attorney mulled this over for a few days, and then told recipient that based on the overall facts of the case, she was reccomending to the TT that he "should move on, there's nothing to see here".
That was the last that the recipient has heard from the TT's lawyer.
My case is still showing as open, and as asset, and at this juncture, I am assuming that once I submit my no refund tax return to the TT's office, I should see a closure of my case within a short time period thereafter.....
Does the community concur? Or do I have to worry about the TT making me make up the "missing asset"?
Could my discharge possibly be in danger?? I was completely honest about the transaction in the petition, and at the time it was made, I was NOT insolvent.
Comment