How long does the trustee have to close regarding our bankruptcy? 7 Answers as of February 09, 2011

If we filed bankruptcy and the debt was discharged but the trustee made a deal for us buying the truck back, how long does the trustee have to close the case?

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Simple answer, until you pay for the truck. Trustee can keep a case open forever if they need to, ( I have a case now that has been open since 1996).
Answer Applies to: California
Replied: 2/9/2011
Gus Johnson Attorney at Law
Gus Johnson Attorney at Law | Gus Johnson
It's pretty much indefinite.
Answer Applies to: South Dakota
Replied: 2/9/2011
Law Office of Larry Webb
Law Office of Larry Webb | Larry Webb
As long as she needs.
Answer Applies to: California
Replied: 2/8/2011
Judith A. Runyon, Esq. Attorney at Law
Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
Ask the Trustee.
Answer Applies to: California
Replied: 2/8/2011
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
There is no time limit. The trustee can wait years.
Answer Applies to: Tennessee
Replied: 2/8/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    As long as the trustee needs to give notice to the creditors, give time for claims to be filed by creditors, hire an attorney to handle the matter and distribute the proceeds you paid for the truck. You can expect that it will take about six months after the notice of dividend to the creditors. Since you already got the discharge it doesn't really matter much to you. The case will be closed by the court after the trustee files the required reports after paying the dividend to the creditors. Some Chapter 7 cases remain open for years but the trustee wants to close the case as soon as possible since he/she wants to be paid the commission on the assets recovered. Therefore, there is an incentive for the trustee to do what he or she needs to do as soon as possible.
    Answer Applies to: California
    Replied: 2/7/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    There is no time limit for the Trustee to administer assets, but it generally takes at least a year. The closing of the case occurs administratively after the Trustee files their final report.
    Answer Applies to: California
    Replied: 2/7/2011
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