In a Chapter 7, there are two final orders:
1. The discharge order, which operates to release the debtor (you) from the debts discharged under the order; and
2. The bankruptcy trurstee's and court clerk's administrative closing order, which actually closes/terminates the case.
The importance of the two orders can be understood as follows: Suppose that the debtor has one credit card debt, and an apartment full of furniture. The trustee doesn't want the furniture, because it won't sell for enough to justify an auction. When the court issues the discharge order, the credit card debt is extinguished forever.
But, the trustee continues to control the debtor's furniture, until the administrative closing order is issued. In theory, the trustee could seize the furniture and sell it (this never happens, but it's legally possible). When the administrative closing order is issued, the furniture is released by the trustee and returns to the property of the debtor.
Practically speaking the furniture was always the debtor's because he/she was using it, and the trustee never asked about the furniture. But, legally speaking, until that administrative closing order is issued, the trustee could claim the furniture and sell it to try to pay creditor claims.
Other similar assests include: a small business with no assets; vacant land with minimal value -- in short, anything that is a debtor's asset, but which has practically no value in a fair market sale.
I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.
Thanks again for using Justanswer!