Legal Question in Bankruptcy in Georgia

Sale of home as a result of Chapter 7; how long does it take to get the exemptio

My home was sold as a result of filing Chapter 7. There was substantial equity in the home. Per Georgia law, I claimed the $10,000 home exemption. It is my understanding that I am to receive $10,000 from the sale of my home. The bankruptcy was granted in July 2004. The home sold in December 2004, yet I still have not received any funds from the sale of the house. How long does this take and is there a law that states that a trustee must distribute the funds within a certain timeframe? Attempts to get this information from the trustee have resulted in no response. Thank you.


Asked on 4/24/05, 10:38 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Sale of home as a result of Chapter 7; how long does it take to get the exem

The Trustee is not allowed to give you personal advice and many actually instruct you not to call them directly. Certainly your attorney told you that. Your Chapter 7 attorney, who is familiar with the file, should be able to answer your question.

This is way too soon for a distribution. Once there is a sale, the Trustee must review claims from creditors, propose a distribution (including payof of his fees and expenses, and get court approval.

It should be noted that a $10,000 exemption is not a guarantee that you will get $10,000. The answer to that would require a review of your case, so again, ask your lawyer, who has a duty to represent you.

Read more
Answered on 4/24/05, 10:44 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Georgia