Pacer says no asset but...

[jp2861]

Trustee hasn't made a determination on my tax refund yet. Other than the measly couple hundred dollar refund there are no other assets. Would a tax refund change it to an asset case? I'm curious why Pacer says it's a no asset case before the refund was decided.

[HHM]

PACER simply goes off of your forms UNTIL the trustee makes a determination. Thus, if your petition says you are a no asset case, that is what PACER will say until the trustee makes his determination.

[DivorceRuinedMe]

PACER simply goes off of your forms UNTIL the trustee makes a determination. Thus, if your petition says you are a no asset case, that is what PACER will say until the trustee makes his determination.

I was just going to chime in what HHM said. Until the trustee decided he was taking my ring and my tax return, my case said no asset too! (it says asset now of course but MAY be switched back depending on how big a refund I'm getting - and I might get my ring back to boot! YIPEE!)

[phoenyx]

I was just going to chime in what HHM said. Until the trustee decided he was taking my ring and my tax return, my case said no asset too! (it says asset now of course but MAY be switched back depending on how big a refund I'm getting - and I might get my ring back to boot! YIPEE!)

I'm really sorry to hear the trustee is going after your ring. You might be already aware of this, but often you can keep an asset (like a ring) that a trustee is taking if you can somehow give them cash around the value they would have gotten from reselling it. The amount they would get from reselling it might be much less than you might think, it definately would be much less than its appraised value. I have heard of people doing this, and borrowing cash from family or friends to be able to keep very important items.

[jp2861]

PACER simply goes off of your forms UNTIL the trustee makes a determination. Thus, if your petition says you are a no asset case, that is what PACER will say until the trustee makes his determination.

Thats what I initially thought. But he put his comments in Pacer after the 341 saying no distributions. I guess it can go back and forth, which doesn't surprise me.