Asset case and none of my creditors have filed proof of claim...

[TBA]

If no one files proof of claim, what happens to the money? We paid the ttee to keep our cars, and i am curious, more than anything.

I would assume the ttee will still pay the creditors?

Or does the ttee keep it to cover court costs?

[tobee43]

yes, if you are an asset case they will take the monies and distribute it to your creditors, of course after putting approx 25% or so in their own greedy pockets.

[DebtEnder]

They can't pay those that don't ask for money. If claim bar date is passed I would think TT would have to give the cash back. I'm sure others more aware of asset case issues will chime in shortly.

[despritfreya]

I believe the Trustee has two choices:

1. Solicit late claims so that he can justify taking a cut.
2. Return the funds to you (no cut) and close the case down.

No way to tell what he will do. You will just have to wait to see what happens.

Des.

[MSbklawyer]

If you're paying secured claims through the plan, your atty needs to file proof of claims for them when the bar date passes. Otherwise they won't be getting paid and their lien on the collateral will pass through bk unaffected. Likewise with priority or non-dischargeable claims.

[despritfreya]

If you're paying secured claims through the plan. . .

Boo boo. OP is in a 7

Des.

[DebtEnder]

Lawyer fight

My bet's on Des

[MSbklawyer]

Lawyer fight

My bet's on Des

I'll have to concede. I had the impression it was a 13.

[TBA]

Oh wow - that is interesting. I was curious more than anything - I wonder how many times this actually happens?

[tobee43]

what????? that des says "boo boo"? well, i never LOL!!!!!!!

and i have never seen MI concede LOL!!!

and we got two of the tops here! when i was working for trial attys, i have seen one swing at another in the halls of a courthouse. but seeing "behind" the scenes in even very heated cases, i have seen them by the end of the day all having drinks and dinner the very same evening they punctured each others juggler veins that very afternoon in front of their clients and the court. all is fair in love and war, and law, after all