QUESTION
How long does it take to complete a reopened chapter 7 bankruptcy due to a mass torte settlement after all creditors have requested payment?
Asked on May 04th, 2012 on Bankruptcy - Louisiana
More details to this question:
My case was reopened on January 23, 2012 and on February 16, 2012 the attorneys from the mass torte claim were paid. Letters went out to all creditors and had until April 24 to claim for payment. How long does it take for creditors to be paid and the estate to paid or funds released after all creditors were paid that made claims to be paid.
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
This depends on what you mean by "complete". The distribution of assets in a Chapter 7 shouldn't affect you at all, assuming you already received your discharge.
It can take several years for a trustee to fully administer a case and get it closed. It really depends on the circumstances and procedures of your court.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
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Answered on May 05th, 2012 at 3:59 PM