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Question regarding closure process with assets - chapter 7

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    Question regarding closure process with assets - chapter 7

    I received my discharge in June on a Chapter 7 with assets for which I am doing the buy-back plan. Pacer has the last day for 'claims' as July 14. What happens now? Does my case stay open until all the payments are paid or does it close and I still make payments. Bit confused about this part of the process.

    #2
    It will not close until you are done paying, the money is distributed to the creditors and the TT gets around to closing it.
    Lawyer - $3000
    Filing fee - $299
    Fresh Start - Priceless

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      #3
      Originally posted by jst4f View Post
      It will not close until you are done paying, the money is distributed to the creditors and the TT gets around to closing it.
      Jst is correct. We were an Asset 7. Your case will stay open, even though you may be discharged. Once all of your payments are completed, the trustee will then pay whatever amount is deemed proper to go to your creditors. In our case, the IRS was the major creditor. Once your creditors are paid, then the trustee will do a final audit and accounting of your case. You will see notices appearing on PACER toward the final days before Close.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

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        #4
        Thank you both for clearing this up. Have 9 months then to go.

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