2004 exam

[Vicoli77]

I just had my 2004 exam. It was 4 hours of hell. He picked apart everything. My lawyer said it was insane what he did. He is asking for 3 more documents that really make no sense. I took a 401k loan in 2018 to buy my house, he was documents proving when I was off work for a surgery. And emails from my lawyer to prove when I paid my fee. I have all of this and was able to respond to all his questions and had documents. How long after this meeting do u find out what happens next? Or i guess what happens next?

[justbroke]

The mere fact that any debtors goes through a 2004 Exam is horrifying; at least to me. It is nothing short of a full on financial deposition and even glimpses into your lifestyle.

I'm assuming the Chapter 7 Panel Trustee requested the 2004 Examination? If it's the Panel Trustee, and not the UST (United States Trustee), then they are just looking for money. The panel trustee can keep a case open for a long time, to liquidate the estate. However, the discharge will still come shorter after 60 days elapsed from the time of the first scheduled 341 Meeting.

Since I'm guessing this is just the (panel) trustee looking for money, there is no way to tell what they are looking for or how long it's going to take them to give up. Your attorney can't answer that question. Only the (panel) trustee could answer that question.

[Vicoli77]

This is the UST not the panel. Panel went threw fine. What is the difference of the 2?

[justbroke]

This is the UST not the panel. Panel went threw fine. What is the difference of the 2?

The panel trustee is responsible for liquidating the case. They typically deal with assets. The United States Trustee (UST) however is responsible for the integrity of the program If the UST is interested in hour case, then it means that you are either over-the-median (which invites scrutiny), of your were over-the-median in the past and they are taking a much closer look at your case.

The good thing, or bad thing, is that the UST is bound by the 60-days to file a complaint to determine dischargeability. That's the 60-days following the 341 Meeting. They also are supposed to file a notice that they are looking at dischargeability issues within 10 days and file a complaint within 30 days. They can always use their wild-card, the totality of circumstances objection, up through day 60. The UST can also seek more time by petitioning the court to extend the deadline (which the court nearly always grants).

So, this can be quick... just a short review... or it can take some time.

Hopefully this is just them doing their due diligence and nothing more happens.

[Atlanta7]

In most cases if UST is thinking about filing AP or seriously investigating the case, they will always almost file for 60-90 days extension at least so they do not have to rush.