What does it mean if the trustee files a "No Asset Report" the same day (or the day after) a chapter 7 case is filed. Is that just a default when a case is filed, or does that mean the trustee has already reviewed the documents, etc., and made a determination that there were no assets.
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It's a good thing, be happy :-) It means he has found no assets to distribute to unsecured creditors.Originally posted by CreditCretin View PostFiled Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions. -
Don't get me wrong, I am happy, I don't have any real assets, the house is upside down, paid for car has over 100K miles on it, and the newer car is worth what we currently owe. I guess I am just curious if that is something that the trustee would usually go back and change later, or if he actually already reviewed our documents, etc., and has determined we have no assets to sell that are worth anything of value.Comment
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Basically, the trustee has reviewed your petition and found that there are no unexempt assets that can be liquidated to pay off any creditors. Your pretty much done at this point. The trustee won't go back unless an extreme change in your financial situation occurs. For example, if you won the lottery which most likely won't happen. I hope this helps!Originally posted by CreditCretin View PostComment
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