Explain "60 Day"

[Confused33]

Can someone explain to me, or point me to an explanation of the "60 day" club?

What exactly is so nerve-racking about this 60 day period of time after the 341 meeting (meeting of the creditors)?

Thank you in advance.

[magyar123]

The 60 day thing is actually your waiting/worrying period. During this period creditors that you listed in your filing can challenge the dischargeability of your debt(s), the trustee might launch a fullfledged snooping into your personal/financial life.

[dr618]

I thought the trustee would investigate you before that. Does that happen even if you had your meeting and the trustee submitted their report of no asset?

[jktrading]

I thought the trustee would investigate you before that. Does that happen even if you had your meeting and the trustee submitted their report of no asset?

I wouldn't think so, unless something comes to their attention.

[AngelinaCat]

Yes, something, ANYTHING, can come up within that 60 day period. That is why it is there. Some creditors may have been missed in your matrix--totally by mistake because you didn't know they existed--and they want their piece of the action.

Then, if you are declared an Asset Case, your discharge date can be pushed back further to allow the creditors to file their claims.

These are fairly rare, but do happen.

Good luck to you.