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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I am due $38,000 from a property settlement as part of my divorce

Customer Question

I am due $38,000 from a property settlement as part of my divorce agreement. I filed ch 7 over 3 years ago, and this was included as an asset. My ex-wife signed a promisory note to the bankruptcy trustee. The money was never paid, and my case was closed. Question: Am I still entitled to the proceeds from the property settlement?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 8 years ago.
You should talk to the trustee. A case will discharge in normal time, while the case can stay open pending liquidation of an asset (sometimes can take years -like for a personal injury suit) The trustee can advise you if the case is open or closed (or your attorney can call for you as well) If the case is open for an asset distribution, then the trustee will be getting the funds. If the trustee closed the case, and issued a no asset report, then you should be entitled to the funds back if he/she felt that the money would not be an equitable distribution in your case after exemptions and liquidation costs. Your attorney can help get the answer.
Customer: replied 8 years ago.

Great info...guess I should have provided more detail for you. Can you take a minute to see if this clarifies things?


My case is definitely closed/discharged.

PACER info...

05-17886 Richard D. Maclary
Case type: bk Chapter: 7 Asset: No Vol: v Judge: Joel Rosenthal
Date filed: 09/01/2005 Date of last filing: 05/07/2008 Date discharged: 05/18/2006
Date terminated: 05/05/2008

Also, an "Asset Notice Report" was filed as part of the bankruptcy. Still, if discharged on 5/18/06 and terminated on 5/5/08...then the trustee no longer has a cliaim on the money, and I am entitled to it if I can recover it ???


Thank you very much for your help...David

Expert:  Terry L. replied 8 years ago.
If there is an asset report, the Trustee may be keeping the case open. You want to look for a -"no-asset report' or some similar filing called abandonment of asset/estate.
Terry L. and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
In talking with a local attorney, I think I've got to the bottom of this. My case is discharged and closed, and, the property was exempted (they learned this by looking the case up on PACER). So, the trustee is no longer entitled to the property settlement, and I am able to try to get it from my ex-wife. Good luck to me, huh :-) Anyways, thank yoiu for taking the time on this one...David
Expert:  Terry L. replied 8 years ago.
best of luck. Thank you.