no asset vs asset

[scorpion35]

whats the diference between asset and no asset cases?
will it affect the discharge date?


thanks

[dspii]

No, your discharge date will not be affected, but the closing date likely will be delayed for a period of time. Asset case means the trustee has interest, assets or money in your BK estate created the day you filed to be distributed to your creditors. It's their job to locate all non-exempt assets, sell them and distribute any proceeds to your creditors. In many cases, the estate has nothing of significant value of non-exempt assets to sell so the estate is considered an no asset case. A report of no distribution would be sent to everyone on your creditor matrix, letting them know you ain't got nothing of value to distribute. You should be discharged around 60 days after your 341 and it should close shortly thereafter if your a no asset case. Piece of cake.