How long after the discharge do I have to wait so the creditors don’t take any of the profit? 8 Answers as of July 31, 2017

My chapter 7 was discharged in April. I want to sell my house and there will be a profit on it.

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Ronald K. Nims LLC | Ronald K. Nims
When your case is closed, your creditors can no longer take any portion of the proceeds of the sale of your home.
Answer Applies to: Ohio
Replied: 7/31/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Discharged debt is discharged. As long as the case is "closed" you can sell it.
Answer Applies to: California
Replied: 7/30/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
It sounds like you are okay. If you are a "belt & suspenders" type, pay an experienced for an hour of their time to review your BK file with the court (the can do it from their office).
Answer Applies to: Colorado
Replied: 7/27/2017
Stephens Gourley & Bywater | David A. Stephens
The equity in your house is exempt. Therefore, assuming the creditors were discharged, they cannot take the equity no matter when you sell.
Answer Applies to: Nevada
Replied: 7/27/2017
Marc S. Stern
Marc S. Stern | Marc S. Stern
Before you think about selling make sure that the case is closed or the property abandoned. There are 2 components to a bankruptcy. 1 - The discharge. Normally it is entered 60 days after the 341 hearing. There are exceptions. More importantly there is 3 - The Administration. When a bankruptcy is filed an estate is created. Virtually all property becomes property of the estate. The estate is administered by the trustee. It can remain open for years. Until the case is closed or the house abandoned it remains property of the estate. Selling it during the administration can have drastic and unwanted results for debtors.
Answer Applies to: Washington
Replied: 7/27/2017
    Portland Bankruptcy Law Group
    Portland Bankruptcy Law Group | Christopher J. Kane
    A creditor can get money out of the sale of your house only if they have a lien on it. In order to get a lien on your house, they first have to file a lawsuit against you and get a judgment against you, unless it is a second mortgage or a creditor you voluntarily gave a lien to. If the creditor had a lien before you filed bankruptcy, and you did not avoid that lien in the bankruptcy process, they will still get paid out of the sale of your house if there is any equity left after senior lienholders are paid.
    Answer Applies to: Oregon
    Replied: 7/27/2017
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Once you received your discharge, assuming that there is no lien on your property by creditors, you keep all of the profit from any sale. However, if your bankruptcy is still technically open, you may need a court or Trustee permission in order to complete any sale.
    Answer Applies to: Nevada
    Replied: 7/27/2017
    Law Office of J. Thomas Black, P.C.
    Law Office of J. Thomas Black, P.C. | J. Thomas Black
    Under recent court decisions, you would need to wait to sell your home until the bankruptcy was not only discharged but closed. That is a "final decree" entered by the court when they close the case. If the case is still open you can sell your house, but you would need to buy another house with 100% of the proceeds within 6 months. Any homestead proceeds not reinvested, would have to be turned over to the chapter 7 trustee to pay your creditors.
    Answer Applies to: Texas
    Replied: 7/27/2017
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