Chap 7 Asset Case Question

[angles]

[frogger]

It will be discharged 60-90 days after your 341, but it will not close until everything is done. Your trustee is probably going to hire an attorney and accountant in order to do everything right.

Your closure could take 6 months, a year, who knows?

I'm discharged, but not closed.

[AngelinaCat]

It was another year and two months from the date of our Discharge until we closed.

[backtoschool]

Everything has to be sold, the trustee has to come up with a matrix of how much of the proceeds from the sale each creditor gets, then checks are disbursed and the court waits 90 days for the creditor's to cash the checks. After the 90 days, the US trustee will approve the panel trustee's fees and request to be dismissed. I was discharged on 11-2-09 and just the US trustee just signed off on my panel trustee's request to be discharged and on my case today. I just posted a thread on this if you want to see how the wording goes....

[angles]

Thanks everyone! What is the significance from not having a closed case from our point of view? Also, how will this affect our personal residence?

Sorry about the questions, this is my new stressor since I don’t know anything about this process and what to expect.

[frogger]

http://www.bkforum.com/showthread.php?t=52702

[angles]

Thanks Frogger for the link. i posted a question.