How long has it taken you to have your BK closed?

[ccmisery]

I am over 180 days past Discharge and my BK is not closed yet, states awaiting closing. I have some real property that the trustee has not done anything with yet, my Lawyer said that they have up to a year to do something with it. Thing is taxes are due and I do not want to pay if I'm going to be losing the property. I am also not sure on the insurance, am I still liable?

[justbroke]

If you surrendered the property in bankruptcy and received your discharge, you are not liable to pay the debt. The real question is where do you want to be when the case closes? First, I would not pay the taxes on the property at this time, since you do not know what the disposition will be. This does put you at some disadvantage, but the couple-of-hundred dollars in late fees and interest, will probably hurt less than paying the (property) taxes and the Trustee selling the property anyhow.

As for insurance, I would maintain insurance if not solely for liability purposes, at least until the property is out of my name.

What's our game plan?

[bcohen]

Are you living in the property, or is it a rental with a paying tenant living there? If so, then I suggest that you pay the property taxes so you don't lose the property--and any equity you might have--to a tax lien investor. If not, and if you don't mind losing the property, then don't pay the taxes. The next owner will have to pay them.

[stevie2012]

Mine was closed five days after the discharge.

[AngelinaCat]

We were an Asset CH7.

I do not remember your situation. However, we were not closed until at least 15 months past our Discharge date.

[ccmisery]

The property is vacant, no renters, taxes are due soon. I don't want to pay taxes and lose it a month or two later. It was not valued by my lawyer too high, it's assessed very low and I have no idea if the trustee sought out an appraisal on it or not? I was an asset CH7 and the property is non-exempt since I am not living in it.

I am waiting for some news or a Notice of Abandonment from the Trustee on the property, it's not worth much so I am thinking maybe the Trustee won't bother?

[PhillyGuy]

I was discharged early last year, still waiting..... But there seems to be light at the end of the tunnel.

I called my trustee and was told another two or three months.