Ch 7 asset case - when will it close?

[vmoboca]

Hi - I am currently in a Ch 7 asset case. The trustee and I have agreed to a settlement amount and the trustee filed a motion with the court for that amount. I paid the said amount towards the end of March. We are coming up on July and there's no sign of the case closing. It seems like the trustee is waiting for the creditors to file a claim. Is there a statue to how long the creditors have to file the claim? I find it hard to believe that this can go on indefinitely.

Is there a way for me to file a motion for the trustee to close the case? What happens to the funds if the creditors doesn't claim it within a given timeframe? Does the money get returned back to me minus the trustee fees?

Thanks for the response. Awaiting anxiously for the case to close.

[despritfreya]

1. A claims bar date was issued in your case. Find out what the date is. Claims filed after that date are deemed "late" and will only participate to the extent there are funds available to pay the late claims after all timely claims are paid in full.

2. It will take months and months and months and months (get the picture??) to fully administer and close the case.

3. You cannot speed up the process and, if you try, you can bet the process will take much longer.

4. To the extent claims are not filed at all or those that do file are paid 100% and there are funds left over, funds will be returned to you - but do not hold your breath.

Bottom line - forget about the case. You have your discharge - that is what is important. The Trustee will do his/her job and the amount of time it takes is not something you have control over.

Des.

[AngelinaCat]

To back up Des, who said that it takes "months and months and months", we were an Asset 7 case. We were Discharged on August 13, 2008, and the case did not CLOSE until November 2009.

As Frogger would say "Patience, grasshopper"...

[frogger]

That's right. Patience grasshopper. BK is a process, not an event.