QUESTION

After the Trustee''s Final Report is approved for Chapter 7, what happens to any remaining funds left over?

Asked on Sep 07th, 2011 on Bankruptcy - Louisiana
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1 ANSWER

William/J Joanis
Any funds that are left over, for example there are often unclaimed dividends, due to people moving, checks getting lost, etc., are paid into the local bankruptcy court's registry and held there.  The registry is searchable, and often people are reunited with unpaid money years later.  At some point, the funds escheat to the government.
Answered on Sep 07th, 2011 at 11:11 PM

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