No asset case

[inhocknow]

Hello folks, thanks for all of your help.
I saw my case on PACER and it lists at the TOP under case summary that I am filing for Chapter 7 and then it says Asset: NO

I guess my lawyer filed this as a no asset case as I really have no assets. Who determines if its an asset case or not? The trustee ultimately? Thanks for all of your great and fantastic help.

[HHM]

The ultimate decision would be made by the BK Judge...

But in reality, it is the trustee who makes the determination. (If you disagree with the Trustee, then it goes to the BK judge).

[ohwell]

From what I understand the local trustee takes the first step in giving you a "preliminary" decision on whether or not you have assets to liquidate to distribute to your creditors. The statement at the top of PACER of Yes or No(I am assuming the lines on the top of the query page before you go further into your case on PACER is what you are talking about, I saw that too, but it didn't mean anything except that the atty was presenting us as a no asset case) its (in my head)equivalent to a scenario when someone has to plead guilty or not guilty when you go to trial so to speak - meaning its preselected when you file, however that doesn't mean it will stay that way once they look at your case. We were worried about ours since we have a home(upside down) but there was also a property my husband transferred in a settlement and the trustee may have wanted to go after it if it had enough equity - thankfully the local trustee didn't want it(but they mentioned it in our 341 and went, oh not much equity), but who knows what the UST will want to do with it. The local trustee stated no assets to distribute.

Being asset or no asset has nothing to do really if you are discharged or not, for the US trustee determines on ch 7 if you are presuming abuse or not, the bk court's decisions, etc. etc.

Your state or federal exemptions you use can help prevent your assets from being liquidated, therefore if what you have are covered by the exemptions, then you can be considered a no asset case by the trustee, even if you have assets.

Anyone feel free to correct me if I am wrong