If you have assets that don't have equity, when are you notified that the Trustee has abandoned them? Will you know before you get your discharge? What type of notification do you get?
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You may find this out at your 341 Hearing. If you have no equity to cover any portion of your debts, the Trustee may state at the meeting he/she will be abandoning the property. If this is not stated, you should/may see this on PACER or receive it by mail before your discharge.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation. -
I don't have my file book in front of me right now, but here is the timeline as I remember it:
We had our 341 on Feb. 7, 2008. Sometime in the middle of March, we were ruled an asset case. This pushed our last day for Creditor Objections from the first part of April to the middle of June, actually June 12. Toward the latter part of April, we received notification from the trustee of his intention to abandon interest in our land and three automobiles as being "too old, or otherwise encumbered." About the same time we also received from the trustee his offer to let us buy our other non-exempt property back from the BK estate at a reduced rate. Payments began in May, and we will finish on April 1.
I hope this helps. Good luck."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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