discharge and closure question.

[ellis2156]

If you do a buy back in chap 7, are you discharged after 60 days, but your case is still not closed? Or does everything stay as it is until the trustee is paid? Can someone clarify this?

[justbroke]

You will receive your discharge on the normally scheduled date (60 days after the first scheduled 341 Meeting). The closing is the administrative portion. Since you are an asset case, the Trustee will hold the case open until the assets have been liquidated/recovered and distributed to the creditors.

The automatic will end at discharge for those items abandoned by the Trustee. However, most (secured) creditors will not bother you until the case closes, or they file and are granted their motion for relief from the automatic stay.

[mknolan]

The automatic will end at discharge for those items abandoned by the Trustee. However, most creditors will not bother you until the case closes, or they file and are granted their motion for relief from the automatic stay.

Not really sure what theis means...are you saying that once your Bk has been closed and the "stay" is lifted that it's possible for your creditors to come after you for the debt discharged in Bk?? Clarify please...:-)

[gemsnroses00]

Our attorney told us it takes about 6 months considering everything goes smoothly. I agreed to a certain amount paid over 6 months, still waiting to hear back.

[justbroke]

Not really sure what theis means...are you saying that once your Bk has been closed and the "stay" is lifted that it's possible for your creditors to come after you for the debt discharged in Bk?? Clarify please...:-)

I should have added "secured" creditors to that. The automatic stay protects you from all creditors, but the discharge injunction does not protect you from secured creditors, where you did not discharge the debt.