Can some explain what's the 60 day club?

[considering7]

Hi all -
I get the feeling I kinda know what it is, but can someone explain what exactly the 60 day club is? I think that exactly 60 days from your 341 you are discharged. Is that right?

Maybe you can share the timeline, or fill in the gaps for me here:
Day 1 - File
Day 30 (or so) - 341 (60day countdown starts?)
Day 90 - Discharged.

What if the trustee needs to sell assets and that takes more time, Does that affect your 60-day club "membership"?

[nekom]

Not necessarily discharged at 60 days but that's the deadline for creditors to file an objection I believe.

[free2breathe]

The trustee may need more time to distribute assets in an asset case, however it doesn't affect the discharge. It only affects the actual closing of the case. We were discharged the beginning of this month (the day after the last day for objections) and our closing could take up to a year.

Some members of this forum have waited much longer for their discharge.

[considering7]

One thing I'm worried about is the Trustee rejecting us for a Ch7 and throwing us into filing a 13. What is the deadline for the Trustee to make that recommendation? I mean at what point do i really know that this is for sure going to be a Ch7?

Thanks!

[csonly]

My attorney told me that and trustee has 60 days from 341 to ask for documentation and make motion to dismiss for protection of abuse or convert. My experience, on day 13 after our 341, the UST filed a "statement" of POA. According to the forum, the general consensus is the trustee has 14 days to file the statement and then 30 days after that to file a motion to dismiss for presumption or convert. Again, that is my experience. I think there is some gray area here. There is a sticky about these deadlines, but I believe the 10 day was recently changed to 14 days.