What to do if our Chapter 7 was discharged 10 months ago but today got a letter stating that “the trustee anticipates receiving funds which may be sufficient to pay a dividend to creditors”?
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What to do if our Chapter 7 was discharged 10 months ago but today got a letter stating that “the trustee anticipates receiving funds which may be sufficient to pay a dividend to creditors”?
It gives creditors 4 months to file. We aren’t coming into money that we are aware of and how can they do this after it’s been discharged? Can they take our wages or what are they talking about?
Asked on May 17, 2014 under Bankruptcy Law, Oregon
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
In a Chapter 7 bankruptcy, your assets, or at least some of them, are liquidated for the benefit of creditors. Assets can be property or they can be claims that you have or debts owed you. Most likely, one or more of your assets is expected to produce some funds--maybe property being sold; maybe a debt owed you is being paid; maybe a claim you had is being settled, etc. The best way to know for sure, though, is to contact the trustee.
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