Asset case - when do i pay the trustee

[sungirl]

My attorney amended our ch7 petition and now we are an asset case. I need to pay $5000 for some non-exempt property. When will we need to pay the trustee? And, after she has our money when will the case close? How long should you wait before you file a motion to make the trustee close the case?

Thanks!

[AngelinaCat]

You will likely be offered an opportunity to purchase your non-exempt items back. For us, it was a twelve month plan at $450.00 a month. Yours would be closer to $420. If you cannot make the payments, your items will then be offered for sale at public auction.

Since you are now an Asset case, your date for your creditor's to object to the discharge of their debt, may be expanded from 60 to 90 days. All of this happened in our case.

We were discharged on Aug 13, 2008, but did not Close until Nov. 3, 2009. During this time, the trustee handled the details of paying the money he collected from us, to our creditors--which in our case, was the IRS. He also dealt with the motion from one of our medical providers to prioritize their debt, above that of the IRS, which was denied. Then there was the final audit before closing.

Good wishes to you!.