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Discharge vs Closed

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    #1

    Discharge vs Closed

    What is the difference between discharged and closed??

    I know that discharge means I will not owe anymore on any of my past debt, and will be wiped away.

    But what is closed?? The time frame between discharge and closing...is that for making any additional changes or..????
    Tags: None
    #2
    A BK is closed once your debts are discharged, and the Trustee files a No Asset report. Once a BK is closed any changes to it, a motion to re-open the case and a new filing fee has to be paid to do anything to it.

    Good Luck
    Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.

    Comment

      #3
      What is the time lag between discharge and closed?? I see alot of folks here that there is a wide space of time between the two.

      Comment

        #4
        Congrats on your discharge!! My lawyer says it can frequently take up to a month to close a case after discharge and it just depends on how quickly the clerk can finish filing the paperwork. Mine took 9 days to close.
        Filed Ch. 7: 3/20/08
        341: 4/21/08
        Discharged: 7/7/08
        Closed: 7/16/08

        Comment

          #5
          Closing depends on if your an asset case or not. Asset cases can take a year to 18 months to close. It can also depend on the number filings in your disctrict. No asset cases will close shortly after discharge, but there is no set time frame.

          The timeframe between discharge and closing is administrative and has no bearing on your ability to move on and rebuild. Basically, when you receive your discharge, your case is over.
          Bankruptcy History:
          Chapter 7 filed - 10/12/2005 - Asset
          Discharged - 02/16/2006
          Case Closed - 11/08/2007

          A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain

          All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.

          Comment

            #6
            The best explanation of "Discharged vs Closed" was posted by HHM as a forum sticky - http://www.bkforum.com/showthread.php?p=72253#poststop

            Well worth the read!
            I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

            06/01/06 - Filed Ch 13
            06/28/06 - 341 Meeting
            07/18/06 - Confirmation Hearing - not confirmed, 3 objections
            10/05/06 - Hearing to resolve 2 trustee objections
            01/24/07 - Judge dismisses mortgage company objection
            09/27/07 - Confirmed at last!
            06/10/11 - Trustee confirms all payments made
            08/10/11 - DISCHARGED !
            10/02/11 - CASE CLOSED
            Countdown: 60 months paid, 0 months to go

            Comment

              #7
              Excellent posts. Thank you for the info.

              Was just wondering why the difference in dates.

              Comment

                #8
                I have a question. I am discharged and still expect to be an asset case. Any idea when this will happen? I check Pacer still just to see if there is anything different and so far there isn't but I had non exempt items and they took my stimulus so I am pretty sure I will be an asset case but nothing shows that ??? Is there a time frame? I remember reading something about the creditors having 90 days from the 341 to send in a claim and my 341 was 5/5/08.

                Comment

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