Just checked on pacer and my case has been changed to an asset case. My trustee entered a no distribution report on 11/18. On 12/10 there is a report she has found assets. I had to furnish my tax returns from last year and have been told they would take my refund this year. Would this be the asset? I have not received anything else about it. I am really worried because I have no clue what other asset it could be. Thanks for any help.
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The tax returns would do it. On the bright side, the trustee should only be able to take a % of income tax paid in for the year. Worst case scenario, if you filed mid October that would be 9 1/2 months out of 12, or about 80%. If you get anything from earned income credit or child tax credits, those amounts should be clear.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision. -
if you have an attorney call and ask. its heir job to work the problem. if you dont then call the trustee and ask. only they know.
if they are taking something from you then yes its an asset case. anything they take has to be distrubuted to everyone and listed as such. its part of the process.Im not an attorney or a trustee. You cant trust me either though!
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Thanks for you responses. The tax return is the only thing I could think of. My attorney had already told me they would take it. I just thought the trustee would wait until my tax returns were filed in 2006 before changing my case to an asset case to see if I would even get enough back to make it worthwhile to take. I will call my attorney in the morning to see if he can shed some light. Thanks again!Comment
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My guess is they need to mark it as an asset case whenever they expect to get something out of the 'estate'. This shouldn't impact your discharge, but it will take longer for your case to be 'closed'. (That won't happen til after they get your refund $$.)Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
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I'm in the exact same situation. I was baffled when I saw my case was an "asset" case on Pacer, but my Trustee is demanding tax returns from everyone and extended the case until August 06 to do so. I've never been so eager to file taxes and get it over with.Comment
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