Asset vs. No Asset Cases

[DivorceRuinedMe]

If I'm surrending a house in bk (it's currently in foreclosure), does that make my case an asset case? I guess what I'm asking is, if it's something that the trustee is not going to get any money out of (the house is worth much less than what is owed), am I considered as an asset case?

What makes a case an asset case versus an no asset case?

[HHM]

Your case only becomes an asset case if the trustee is going to be able to get his hands on any money or assets to distribute to your creditors. So, in your scenario, if you are surrendering a house that has no, non-exempt, equity, that will NOT make your case an asset case.

[DivorceRuinedMe]

Thanks HHM. I figured as much. I just wanted to make sure my house in foreclosure wasn't going to hold up my case closing. That makes me feel a lot better!