In English PLEASE!!

[loko2012]

hey guys... can anyone tell me what this means:

Chapter 7 Trustee's Report of No Distribution: I, the Trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate except exempt property; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate and have examined the debtor(s) under oath pursuant to 11 U.S.C. 341 and 343; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to FRBP 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. Wherefore, I request that this report be approved, and that I be discharged as trustee. This report is signed and submitted under penalty of perjury.

MEANSU, NARPT

[BassBoy]

You are a no asset case and therefore, there are no funds for the Trustee to distribute to your creditors and your Tustee is resigning from your case.

[Minnymouth]

It means that the Trustee has researched all your paper work and has declared your case a "no-asset" case and is ready to discharge your case when the time comes. He's asking the court to releave him of his duties, regarding your case.

SIT BACK, RELAX, AND WAIT FOR THOSE DISCHARGE PAPERS.........

CONGRADULATIONS..............

[olly7011]

It sounds like the trustee could not find any assets to take and he is requesting a discharge of all debt.

[loko2012]

Really?? Please Dont kid me.......Is there anything that can go wrong now??...my last day to object to discharg is 8/26/08...so now is it just a waiting game??

[BassBoy]

Yes, it should be a waiting game now. We are not kidding. From what you posted, your case should move along with no obsticles, as long as there are no reasons for any creditors to object. If you didn't rack up a bunch a debt shortly before you filed, then there shouldn't be any objections.

As Minny advises....SIT BACK, RELAX, AND WAIT FOR THOSE DISCHARGE PAPERS.........

[Help!]

Wait, you have the "MEANSU" flag under summary? This means the presumption of abuse is undecided in your case. Has it been 10 days from your 341 hearing? If not, I'd watch PACER closely to be sure a presumption of abuse statement isn't filed. If you haven't been asked for additional information to provide to the UST, you may want to contact your attorney to make sure they haven't heard anything either.

Not sure what NARPT means, but you can get the definition of the flag for your district from PACER under "Court Information".

[loko2012]

within 10 days of the 341...this was posted:

Having reviewed the documents, if any, filed by the debtor and any additional documents provided to the United States Trustee, the United States Trustee is currently unable to determine whether the debtor's case would be presumed to be an abuse under Section 707(b) of the Bankruptcy Code. United States Trustee. (UST Staff10, ) (Entered: 07/07/2008)

Then today this was posted:

Chapter 7 Trustee's Report of No Distribution: I, the Trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate except exempt property; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate and have examined the debtor(s) under oath pursuant to 11 U.S.C. 341 and 343; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to FRBP 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. Wherefore, I request that this report be approved, and that I be discharged as trustee. This report is signed and submitted under penalty of perjury.

[Help!]

Unlike a declination, a motion to dismiss sometimes follows this statement. It is possible that the UST needs more information to make a determination and to decide whether or not to let your case proceed. The UST has just 30 days from the date this statement was filed to make that decision, so my advice would be to contact your attorney and get them communicating with the UST.