First of all, congratulations on filing bankruptcy and getting your life back! That is wonderful. If you file a Chapter 7 Bankruptcy, the timeline from when you file Chapter 7 Bankruptcy until you get your discharge is about 4 months. However, that does not mean that your case is over.
Some people think that once they receive their Chapter 7 Discharge everything is done. This is not true for those of you who have either non-exempt assets to administer, preferences the trustee must pursue, or fraudulent transfers the trustee must avoid.
Getting your discharge is important and it is part of the process. But the actual administration of your Chapter 7 Bankruptcy case can go on for years sometimes. Now, to be clear, trustees like to wrap things up and get paid themselves as fast as possible. They don’t like to drag things out any more than you want them to be drug out.
In the vast majority of Chapter 7 cases, the trustee files what we refer to as a “no asset report” with the US Trustee’s Office. Once you receive your bankruptcy discharge and the trustee files a “no-asset report”, the bankruptcy court will close your bankruptcy file and that is it. But if trustee does not file a “no asset report” and there are assets to administer in your case, your case could remain open so trustee can administer your case for some time.
This is why you may have received your discharge but the trustee is still seeking information and your cooperation—which, by the way, you are required to give or risk losing your discharge.
CONCLUSION
When the time is right, or when you are ready, reach out to Minnesota’s LARGEST bankruptcy law firm at www.kainscott.com. You will be so glad you did!
