our 341 was today, worried....

[ccsjoe]

Yup, welcome to the exclusive Club 60!!!

[pathfinders]

ours was like 3 minutes.. No worries welcome to the 60 day club

[carlsbadmike]

I was afraid I might have to convert from a 7 to a 13 also and I also found it very easy. I thought it would be much more difficult and that I would get raked over the coals by the trustee. Having a good attorney was key. I was $130K in debt-credit cards. Once you get your discharge letter it is a huge sigh of relief and you'll have a frest start. Best wishes to you.

[drowning123]

PACER finally had this posted today, REPORT OF NO DISTRIBUTION, AWAITING DISCHARGE . That is what I want to see correct? I cant believe it ! I was so sure we were going to have to convert to a 13. I hate to say it seemed too easy. We have for sure learned our lesson about over extending use of credit cards ! $80,000 in debt was killing us. I will only use cash or debit from now on , thank you God , thank you fellow forum friends...........now we await discharge , which should be Dec 26th, a very Merry Christmas indeed............

Yes, this is what you wanted to see. Congrats. And yes, tobee was right. LOL. ccsjoe and I could have helped you, even though I think there're some secret addicts here. I'm not as bad as tobee thinks, though. LOL!

[tcreegan]

REPORT OF NO DISTRIBUTION this is Happy Thanksgiving, the discharge will be Merry Christmas!!

Good job ferfermom!

Tom in Colo

[pikaroth]

You know, having been here for a bit now, I want to ask: what, exactly, is a report of no distribution? Obviously a GOOD thing, but after the 341, what will I be waiting on? What is this 60 days, and what can happen during it that I should be looking to avoid?

[drowning123]

After the 341, you will be waiting for a report of no distribution, which usually appears on PACER within 24 hours. This means that the trustee has found that you have nothing for him to take and give to your creditors. You have 60 days between your 341 and your date of discharge. During this time, creditors have the right to object to your petition, i.e., ask for the bankruptcy protection to be lifted so that they can come after you for their money, etc.. If no creditor objects by one day before your projected date of discharge, you're home free. This is why everyone watches those 60 days like a hawk.

[tobee43]

You know, having been here for a bit now, I want to ask: what, exactly, is a report of no distribution? Obviously a GOOD thing, but after the 341, what will I be waiting on? What is this 60 days, and what can happen during it that I should be looking to avoid?

you are actually awaiting two very important notices from the court....1. being the order from the trustee approving the no distribution of asset...which means the estate is now closed and the tustee is discharged and relieved of her/his trust..and all deficient pleadings that have not been cured at considered moot.

to me THAT's the ONE...I WANT more than the actual dischage...


secondly you will recieve another document...it is called discharge signed by the us bk judge granting a discharge under secontion 727 of title 11 of the us bk code.... and you are DONE!!

[ferfermom]

After the 341, you will be waiting for a report of no distribution, which usually appears on PACER within 24 hours. This means that the trustee has found that you have nothing for him to take and give to your creditors. You have 60 days between your 341 and your date of discharge. During this time, creditors have the right to object to your petition, i.e., ask for the bankruptcy protection to be lifted so that they can come after you for their money, etc.. If no creditor objects by one day before your projected date of discharge, you're home free. This is why everyone watches those 60 days like a hawk.

I am not understanding that part. How and why can a creditor object to your petition? Why can they "come after you for their money?" I thought that was the whole idea behind bankruptcy , so they couldnt sue you for the money

[tobee43]

I am not understanding that part. How and why can a creditor object to your petition? Why can they "come after you for their money?" I thought that was the whole idea behind bankruptcy , so they couldnt sue you for the money

in drowning's absence of i'm sure is because a busy morning on the home front ...or early treat or treating.....

because during those 60 days...if a creditor feels you have committed fraud or wants to file a claim...some just to bust butt, that is the time period alloted for them to do so. once that time period has past and no adversary proceding have been file...(that is the type of motion your creditor would file if they wanted to dispute the claim). you are usually in the clear.

[free2breathe]

I am not understanding that part. How and why can a creditor object to your petition? Why can they "come after you for their money?" I thought that was the whole idea behind bankruptcy , so they couldnt sue you for the money

Have a look at the sticky http://www.bkforum.com/showthread.ph...tor-Objections!

HHM has put together a great thread/sticky on this subject.

[tobee43]

Have a look at the sticky http://www.bkforum.com/showthread.ph...tor-Objections!

HHM has put together a great thread/sticky on this subject.

good one freew2...that will explain the WHY does it happen...