If Creditors Do Not Claim Assets, where does the $ go?

[rimi2001]

If an no asset case turns to an asset case, how long does the creditors have to claim? And what if they do not claim?

Can a trustee automatically get thier hands on a settlement we were suppose to recieve before we even see it? We did make the trustee aware at the 341 meeting of this settlement. The settlement has been going on for 3+ years, so we are not even sure it is for real yet. What if it never comes through?

What about taxes? Trustee never asked for that either. Just asked for tax forms from previous year.

Thanks for the answers in advance.

[Minnymouth]

You asked these same questions under another thread..... please keep them together under one thread.

If your case turns from an no asset to asset case, AFTER DISCHARGE (mainly because the Trustee still has your case open and has found something - lawsuit, taxes, etc), the Trustee automatically notifys the creditors again and they have 30-60 days to file a claim.......again.

Your Trustee may have checked into the lawsuit and proceedings involving it and has kept your case open to try to "tap" those resources.

Your attorney should be able to answer any questions you may have. If you did not have an attorney - you may need to get one...... regarding the lawsuit settlement.

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