turned over Tax return as asset discharged

[dingus57]

I was discharged 12/14/09 had to turn over tax return as a asset what happens now, how long does it take to get everything over Thanks

[HHM]

First, you turned over your tax "REFUND". Your tax return is the Form 1040.

It can take months for the trustee to administer a case. But it doesn't matter. The discharge is your goal, how long the case stays administratively "open" has no consequence.

[dingus57]

Thanks does it matter if I surrendered my house and bike as long as it shows me discharged on the 12/14. I just need to sit back and wait I hope. Thanks

[mtbc]

how long the case stays administratively "open" has not consequence.

I thought one couldn't incur new debt without anyone's permission until after the case closes?

[HHM]

I thought one couldn't incur new debt without anyone's permission until after the case closes?

Incorrect, in a chapter 7, once your case is discharge, the debtor is OUT OF bankruptcy. They can do whatever they like.

[mtbc]

Cool, thanks, I've added a note to http://www.bkforum.com/showthread.php?p=378605 accordingly.

[ToughTimes]

Incorrect, in a chapter 7, once your case is discharge, the debtor is OUT OF bankruptcy. They can do whatever they like.

Does this mean debtor can sell a) exempt assets, and b) assets not exempted that the trustee has not mentioned that show fully administered in trustee's preliminary report?

I thought we needed formal (and final) abandonment of assets before they'd be ours to sell. (Left a few things in Ohio that need to be sold.)

[HHM]

Generally, anything not specifically retained by the trustee (non-exempt assets) are abandoned at discharge. And you may sell exempt assets after discharge. The BK estate terminates at discharge.