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What happens in an asset case

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    #1

    What happens in an asset case

    It's not me it is the con artist that I am suing.
    • The TT has him listed as an asset case and the creditors have until 6/15 to file.
    • So far 4 have filed.
    • What are the steps the TT takes after 6/15.
    Very fortunate in the grand scheme of things but have learned my lesson.

    Filed 12/15/08, 341 1/12/09, Cont to 2/12/09, cont to 3/12/09, cont to 4/15/09, cont to 5/11/09, cont to 6/02/09. Discharged 9/16/09, Closed 10/23/09
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    #2
    The TT will seek to take possession of whatever assets he has found.

    These are generally sold at an auction or other means.

    The proceeds go into an escrow account.

    The Trustee takes his share.

    He then distributes the funds according to the claims and rules set up in his local district. Sadly I'm not sure how this is distributed other than priority debts are paid first.
    May 31st, 2007: Petition Filed by my lawyer
    July 2nd, 2007: 341 Meeting Held
    September 4th, 2007: Discharged and Closed.

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