Stay lifted

[DGranny]

Hello, All. I've been away for awhile, but I'm nearing my discharge date and I have a few questions from the bk filiers who still log-on here.

First, the Motion to Lift Stay was granted on 2-1-10. I filed Chptr. 7 on 9-11-09and had my 341 on 10-21-09 and the hearing to lift the Stay was held on 1-20-10, but I did not attend. BTW, I filed pro se. Before filing, I had received a N.O.D. around 7-26-09. Also, I'm located in Riverside County, Cali. And my question is: Does the lender have to file another N.O.D. or can they just set a Trustee Sale date right away?

PACER says that Discharge is pending; I did not file Form 23, Statement of Completion of Course in Personal Financial Management within 45 days of my 341 (10-21-09), but plan on filing it by 2/5/10. Will I get penalized for not filing it on time or are they sometimes lenient about that?

Lastly, I own a timeshare free and clear and did not list it in my BK because my case is a Big Time no asset filing -- $497,000 scheduled to be discharged without payment, per Trustee's Report of No Distribution filed on 10-26-09, within days of my 341. I have a trip scheduled to New Orleans next week at my timeshare and about 3 weeks ago my timeshare company sent me a letter stating that I need to contact them before I take the trip because they had info that I had filed BK. I called and told them they were not part of the BK, especially since I owe no money on the timeshare and they said, "Oh, well, you're probably right." Now, my question is if my Trustee thought I should turn the timeshare over in the BK, wouldn't she have notified me of that by now? I think it's only worth about $12,000, and won't make a small dent in the amount to be discharged.

I would appreciate any insight anyone might have regarding any of these issues, and graciously thank you in advance for your response. Granny

[helpmeout]

You have an asset that you did not list in your bankruptcy petition? Did your attorney tell you not to list this asset? If you don't have an attorney and you didn't list the asset, then I suggest you get one. If the Trustee finds out that you did not list all of your assets, as required by law, you will need an attorney.

[DGranny]

Stay lifted

Thanks for your reply. As I said, I filed pro se. Do you think (or know) if I should let the Trustee know now -- it wasn't intentional; I didn't even think about until after my 341 and forgot about it again until I got the letter from the timeshare company. You say, "as required by law." What exactly do you mean by that? That I need a lawyer to file period or that I need a lawyer now? When I filed, I had the filing fee waived because I have no income, and the same is true right now. So, I can't hire an attorney.

[helpmeout]

Thanks for your reply. As I said, I filed pro se. Do you think (or know) if I should let the Trustee know now -- it wasn't intentional; I didn't even think about until after my 341 and forgot about it again until I got the letter from the timeshare company. You say, "as required by law." What exactly do you mean by that? That I need a lawyer to file period or that I need a lawyer now? When I filed, I had the filing fee waived because I have no income, and the same is true right now. So, I can't hire an attorney.

At the time you file for bankruptcy, all of your assets become part of the bankruptcy estate. And when you sign the paperwork, you are declaring to the court that you have listed all of your assets and debt. Failing to do so is perjury. And perjury is a crime. You are going to have a hard time saying that you forgot about it when you have a trip scheduled using your timeshare.

You could be in a lot of trouble of if the Trustee finds out on his/her own. I would notify the Trustee of this forgotten asset and see if s/he still considers your case a no asset case. Chances are, the bankruptcy court will want to sell the timeshare unless you have enough exemptions to cover it.

[newbie2]

Time shares normally have monthly or yearly maintenance fees. Did you list them when you filled out your expenses?

I'm in agreement with the poster above: You most certainly need to get a hold of the trustee and let her know that you forgot to list this asset. Better to do it now than to wait until the trustee finds out on their own.

[OhioFiler]

Failure to file the required forms on time is a serious issue as well as failing to disclose assets.

Good luck.

[aces67]

If you don't complete and file the second credit counseling course on time it can keep you from getting a discharge.

I also agree with the other posters. That timeshare is an asset and you should have listed it from the start.

[DGranny]

NHC, HELPMEOUT, OHIO FILER, NEWBIE2 and ACES 67, thank you all so very much for your responses and most of all for your advice. I am going to take care of this right away. Having worked in a 'criminal' court for over 25 years, I certainly don't any kind of charges brought against me. Thanx, again, Granny