Question about Pacer filing after the 341

[filed]

In reading this forum, I see that sometimes within a day or so of the 341 a posting that clearly states "No Distribution" like this occurs:

"Chapter 7 Trustee's Report of No Distribution: I, (trustee name), having been appointed trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate; ..."

And, sometimes I see that a much simpler statement is filed, something like this:

"The trustee appointed in this case states that the initial meeting of creditors was held and concluded on XX/XX/XX date"

Does the appearance of the second type of statement mean that you are going to be an asset case, and its bad, or is that not a conclusion that can be drawn?

Thanks for all the knowledge that is shared on this forum.

[ValleYum]

From my reading experience here in the forums - I think the 1st says "Welcome to Club 60" and the 2nd says "I wanna little time to look things over - just to be sure"

Of the people I have seen get the 2nd statement - about 25% seem to 'become' asset cases. Most folks who are asset cases seem to have an idea that this is at least a possibility.

If you got the 2nd comment, I would wager your Panel Trustee is hanging out to see what the UST is going to do - since you are one of the rare folks who actually had a UST at their 341. JUST my opinion - and like noses everyone has one and they are different.

[filed]

Looks like there is at least a 3rd comment, "held and continued to allow further examination of the debtor(s) and/or the records of the debtor(s)" with a date to resume.

I wonder what the difference is between "held and continued to allow further examination..." and simply "held and concluded" ?