Abandon of property

[hcl]

Hi,
I filed Ch.7 non-consumer, no asset case. I had my 341 last month. I have non exempt property. Today I read on PACER Notice of abandonment. It says, Trustee has filed a notice of intention to abandon certain property. It also days that he will be waiting for any objections. Does it mean that this is NO ASSET case? Please advise. Appreciate your responses.

[starr4law]

Usually, abandonment by the Trustee means he is not going to seek out that asset(s). So, if in your state, you had $30 cash on hand at the time of filing, but it wasn't exempt because your state doesn't allow cash on hand, technically, the Trustee can take it. However, when cash/items are really small, it costs the Trustee more to deal with it than let it go.

If no one objects (if the stuff was small, no one likely will), then the Trustee will distribute his "report of no assets." That is really what you are waiting for, but what you saw today is a step in the right direction

[hcl]

Thanks alot