Time process for Chapter 7 exemptions.

[vhs]

Does anyone have any insight on this?

I just want to get an understanding of how long it takes to list an additional exemption in an open chapter 7 asset case, and the time frame when it usually gets completed.

Thanks.

[justbroke]

You need to file the exemption at the time of filing (period). Any late updates, especially close to or after the 341 meeting, may subject the debtor to objection from the Trustee as bad faith.

A Chapter 7 from start to finish is about 91 days (or a few more days) for a simple no-asset case. The discharge should always come 61 days after the (first scheduled) 341 Meeting. The administrative close in a non-asset case should only take a day and is usually done on the same day as the discharge. For cases with assets, it can take from 30 days to years for the Trustee to liquidate the assets, clawback property, and litigate fraudulent transfers.

[despritfreya]

Time for what to get completed? You are an asset case. It will be completed once the Trustee administers all assets and files a Final Report. That could take months or even years.

As to the exemption issue, I must admit I am a bit baffled why you continue to focus on it. As we have said in the past, either the asset is exempt or it is not. If you failed to file an entitlement to an exemption when the initial schedules were filed you can amend Schedule C.

While you should be discussing procedure with an attorney in North Dakota here is a link to the Local Rules:

https://www.ndb.uscourts.gov/sites/default/files/nd_local_rules/ND_Local_Rules.htm

Rule 1009-1 appears to be one of the Rules to review.

You also need to review:

https://www.law.cornell.edu/rules/frbp/rule_4003

Des.

[vhs]

Thanks for the feedback.

Glad the site is back up and running. I noticed it was "out" for a few days.