top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

6 month question

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    6 month question

    I have been discharged as of 11/9/16. Case still open as the Trustee is waiting to see what my tax return loos like before he decides to do a non-distribution and close case or distribute my return.
    My question is, what is the time line where I am "safe" from the Trustee regarding a possible inheritance (I do not expect one, just wondering). Is it 6 months from filing, discharge, or close? I just am wondering when it is safe to move on and not have the trustee to come looking for any assets (which I do not have or expect), or life changes that could produce more $$$. Thanks.

    #2
    Originally posted by turbotater View Post
    My question is, what is the time line where I am "safe" from the Trustee regarding a possible inheritance (I do not expect one, just wondering). Is it 6 months from filing, discharge, or close? I just am wondering when it is safe to move on and not have the trustee to come looking for any assets (which I do not have or expect), or life changes that could produce more $$$. Thanks.
    It's six (6) months from the date that you file the petition. It's also when you become entitled to receive the proceeds, not that you actually received the proceeds.

    There are only three (3) things that the Trustee can come for after filing (and only within those 180 days). Those items are an inheritance, property from a divorce settlement, and/or life insurance proceeds. Otherwise there is nothing that the Trustee could clawback, and includes the Trustee's inability to go after any other windfall (such as a lottery winning).
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      This is off topic, but. Why does the lawyer get paid first? I thought he got paid over life of the chapter 13, that's what my lawyer told me. But he has almost been paid the remaining 3600 and its only been 6 months.

      Comment


        #4
        Originally posted by tm0101 View Post
        This is off topic, but. Why does the lawyer get paid first? I thought he got paid over life of the chapter 13, that's what my lawyer told me. But he has almost been paid the remaining 3600 and its only been 6 months.
        The attorney and the Trustee are considered "administrative" claims and have a priority higher than almost everything else. The Trustee will always pay the attorney's fees that are included in the plan that were duly earned by filing the case and getting the case to confirmation. Additionally, the attorney "may" receive a case monitoring fee which is actually paid over the life of the plan (in my Florida District, the no-look fee can include a $20-$50/month case monitoring fee post confirmation). Here is the priority list according to the bankruptcy code (11 USC 507):

        Allowed "secured" claims have a "superpriority" above all the claim types listed below (11 USC 507(b)).
        1. domestic support obligations
        2. administrative claims
        3. ordinary course of business debts (ongoing)
        4. certain claims related to employees of the debtor (wages, salaries, accrued time off, etc)
        5. certain claims related to employee retirement/benefit plans
        6. certain claims related to grain farming and certain fisherman
        7. certain claims related to deposits
        8. "priority" unsecured claims of governmental units (e.g. taxes, fines, etc.)
        9. certain claims related to federal depositories
        10. certain claims related to personal injury cases, regardless of whether there was a death, when the debtor was intoxicated

        After that priority list are all other "general" unsecured claims.

        (This is just a very generic list and there is a lot of detail under each of these ten (10) priority claims and the 11th priority being the general unsecured claims.)
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment

        bottom Ad Widget

        Collapse
        Working...
        X