Had 341 meeting

[white98m3]

Good Morning
We had our 341 meeting on tuesday and the trustee had a bunch of questions and it seemed like she was going to review our case to see if our values were correct. However late that night my attorney emailed me stating that she had delcared "no asset distribution" and that all we needed to do now was wait the 60 days. Is this this accurate? Can the trustee still object to the case?

This site has been great with information

[JV09]

That's great that the trustee got back to you so quickly. I believe you just have to see if there's any objections from creditors now, the work of the trustee is basically done unless theres a tax refund that the trustee may want.
Does anyone know how long it normally takes for the trustee to label the case as no asset distribution?

[tcreegan]

days till trustee report

Hi all,

Our trustee took 45 days to post a report of no distribution. His office said it was just b/c they were backlogged with paperwork.

Tom in Colo

10 days till day 60

[Beeheery]

If none of our debt is currently held by the original creditors and is owned entirely by various collection agencies, isn't there little to no chance of objection at that point? All of my debt is held by different CA's and I haven't used a credit card in almost years so I am assuming I will have no issue going into my 341 (if I am ever eligible to file that is). :*(

[white98m3]

no asset

So it sounds like I just need to cross my fingers and wait it out until Oct 17

Out of curiosity, we surrendered a 2 family property in the BK
Does anyone know when my legal responsibility for the property ends?
(from and insurance, and property upkeep standpoint?)

Thanks

[tobee43]

both our discharge and the order from the trustee declaring a report of no distribution came at the same time, in the same envelope...it was ONE day after the closing date for any objections by creditors to be filed.

so it was 60 days exactly from our 341 meeting. i was really impressed on how quickly our case was handled by this court.

[daylate]

when does it end

So it sounds like I just need to cross my fingers and wait it out until Oct 17

Out of curiosity, we surrendered a 2 family property in the BK
Does anyone know when my legal responsibility for the property ends?
(from and insurance, and property upkeep standpoint?)

Thanks

I think until the property is actually sold at sheriff sale, not necessarily when foreclosure is completed...as always check with an attorney to be sure

[tobee43]

I think until the property is actually sold at sheriff sale, not necessarily when foreclosure is completed...as always check with an attorney to be sure

i believe that is the case...we had two properties...i got bank one to release it....however, bank #2's property will not...so i'm filing complaints as it is a government backed loan and there is NO reason to continue with racking up foreclosure cost. (in that state they could be in excess of 50-100 thousand dollars). so the bank is being terrible.

we are in the process since the bank is taking care of the property, to advise them to immediately vacate until they release us from the deed...if not we will not be liaible for anything. they have acknowledged that we no longer have any financial responsibility, however, while, i understand that must follow certain guidelines to recoup their monies from the government backed loan...they are wasting tax dollars on an unnecessary process. just give us some type of "legal' instument that releases us....what's the BIG deal? (that's meant to be rhetorical )..LOL! darn banks!

when i spoke with a govenment watchdog agency yesterday, they confirmed that the many banks are abusing the system...yeah...and so what are they doing about it???

i guess we will see!