Had my 341 - Trustee not happy - what would you do?

[gman]

Since yours was the 10th, that means i believe they only have through this Sunday the 20th (really Friday) and they have to note something as far as intent to bump you into a presumed abuse status....so if you don't have anything noted by then, it won't hurt to give the Trustee's office a (very polite) call and ask what the status of your case is. It may just be a clerical delay, as this isn't uncommon from what I have read. They may already have noted you and everyone else no distribution, just not updated in PACER yet.

So, what you are saying is that there is probably a delay between the Trustee making his decision (which appears in my district to be historically within 48 hours of the 341) and PACER updating the file as such? Said another way, I may likely see PACER updated in the next few days showing the Trustee made a decision back on last Friday, the 12th. Is this what I am reading?

Also, is there a Federal statute that requires the Trustee to make a filing within 10 calendar days of the 341? I was unaware of that provision.

Still no PACER update as of 2pm ET today - and nothing in the mail either (I am Pro Se so it would have come directly to me.)

Thanks for the help.

[iv65536]

Since the IRA was not liquidated until after filing, I don't see where you will have a problem. The asset was exempt at the time you filed, and that's what matters.

[gman]

Since the IRA was not liquidated until after filing, I don't see where you will have a problem. The asset was exempt at the time you filed, and that's what matters.

I tend to agree...but the Trustee made a comment that I was not "permitted' to do that. Anyway, I chose not to argue and said "sorry, I did not know."

Still no report on my file as of this hour, or anyone else that had the 341 the same day as me. Go figure.

[debee]

The trustee was right, gman. The reason you didn't have a right to dispose of the funds is because once you filed bk, all of your property (exempt or not) became "property of the estate". It remains so until your exemptions are allowed under F.R.B.P. 4003(b) or until the property is abandoned by the trustee under F.R.B.P. 6007.

You claimed your exemptions, but the trustee gets 30 days after the 341 to object to them. I know in at least one state money put into an IRA within 6 months of filing is not exempt, there was also a case where an inherited IRA was not exempt, and I'm sure there are other examples of IRAs the trustee was able to get her/his hands on.

[gman]

The trustee was right, gman. The reason you didn't have a right to dispose of the funds is because once you filed bk, all of your property (exempt or not) became "property of the estate". It remains so until your exemptions are allowed under F.R.B.P. 4003(b) or until the property is abandoned by the trustee under F.R.B.P. 6007.

You claimed your exemptions, but the trustee gets 30 days after the 341 to object to them. I know in at least one state money put into an IRA within 6 months of filing is not exempt, there was also a case where an inherited IRA was not exempt, and I'm sure there are other examples of IRAs the trustee was able to get her/his hands on.

Well, I had to eat, pay rent, car payment, utilities, etc. I literally had no $$$ left when I filed - and next month will rely on family if my job prospects do not pick up. Can't cry over spilled milk. They will either make a stink or they will not - what's done is done. I'm not sure what the Trustee will gain in fighting my case - but time will tell. If I had to do it all over again - I would have relied on family sooner and simply cracked the IRA later (and paid them back after my discharge.)

Oh well...not worried. It will be what it will be.

[debee]

Yeah, I didn't mean to come across as if I was beating you up about it. I was just sharing information. I'm hoping it works out fine for you. There have been other people who did it and their cases still discharged and closed.

[BKlooker]

I would call on Monday to the Trustee's office if you don't hear by then. At least the clerk could tell you the status...

Yes, what i was saying was PACER, like any other system, can hit clerical delays, etc. If everyone else as you on the same day doesn't have a notation either, that's a good sign that it's just a general backup of the trustee or court system.

[lunasgal]

Did you pro-se? It seems that Trustee's are harder on people who file on their own, I was in the same situation as you, but discharged fine and UST didn't file motion to dismiss.. I know that this might seem a little silly but in my opinion trustees are harder on people who save money and file themselves and most trustee's are lawyers and want to make it harder... My Chapter 7 was a breeze, and I am happy I saved the money for my attorney as it seems its easier this way... I could be totally off base, but just my two cents

I am sure you will be fine! Just a power hungry trustee, welcome to the 60 day club!

[gman]

10 days have now passed and the only update PACER has no my case is the notation of the 341 hearing. Not a peep of filing from the Trustee on my case (or anyone other's that day) and no snail mail from his office either.

I WONDER WHAT HAPPENS IF HE MISSES HIS 10 DAY DEADLINE TO FILE AN OBJECTION???

Crazy stuff, given the past track record of turning cases in 48 hours.

I'll call the Trustee Monday and see what the delay is...

[tobee43]

10 days have now passed and the only update PACER has no my case is the notation of the 341 hearing. Not a peep of filing from the Trustee on my case (or anyone other's that day) and no snail mail from his office either.

I WONDER WHAT HAPPENS IF HE MISSES HIS 10 DAY DEADLINE TO FILE AN OBJECTION???

Crazy stuff, given the past track record of turning cases in 48 hours.

I'll call the Trustee Monday and see what the delay is...

maybe jb (justbroke) as some idea???? did you reach out to him??