Welcome to Law-Forums.org!   

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Bankruptcy Timeline - Awaiting Discharge

Discuss the legalities of Bankruptcy Law

Bankruptcy Timeline - Awaiting Discharge

Postby Hurlee » Sat Apr 02, 2016 12:02 am

We are trying to buy a short-sale house from a buyer in bankruptcy.  We have been told by the selling agent that the 1st, 2nd and 3rd mortgage holders have approved the sale but the house is stilled tied up in bankruptcy and that as soon as it is discharged we can proceed.  The seller has just completed the personal financial management training(filed with the court APR 16).  The VCIS system provides a status on her case as “Awaiting Discharge.”   

Does the status and the completion of the financial training indicate how close to discharge she is?  

I understand that you can’t provide an exact answer but any indication would be great – in the typical BK would the discharge come in days, weeks, months?  
Hurlee
 
Posts: 50
Joined: Wed Mar 12, 2014 1:50 pm

Bankruptcy Timeline - Awaiting Discharge

Postby Kolton » Tue Apr 05, 2016 1:01 pm

We are trying to buy a short-sale house from a buyer in bankruptcy.  We have been told by the selling agent that the 1st, 2nd and 3rd mortgage holders have approved the sale but the house is stilled tied up in bankruptcy and that as soon as it is discharged we can proceed.  The seller has just completed the personal financial management training(filed with the court APR 16).  The VCIS system provides a status on her case as “Awaiting Discharge.”   

Does the status and the completion of the financial training indicate how close to discharge she is?  

I understand that you can’t provide an exact answer but any indication would be great – in the typical BK would the discharge come in days, weeks, months?  
Kolton
 
Posts: 37
Joined: Thu Apr 17, 2014 11:12 am

Bankruptcy Timeline - Awaiting Discharge

Postby Marcus » Tue Apr 05, 2016 4:46 pm

The time for discharge is linked to the deadline for creditors to file objections to discharge, not to the financial management course.

The discharge will be entered if no objections are filed after 60 days after the date first set for the initial meeting of creditors.  How long after depends on how busy the gnomes in the clerk's office are.
Marcus
 
Posts: 51
Joined: Fri Mar 14, 2014 4:34 am


Return to Bankruptcy Law

 


  • Related topics
    Replies
    Views
    Last post