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  1. #1

    Question How Long Does It Take to Receive Money from the Trustee After House is Sold

    My question involves bankruptcy in the state of: Virginia After filing chapter 7 my mother-in-law passed away leaving my husband a house. Because it was within 180 days we are are letting the trustee sale it. The will be more than enough to settle any claims and pay off a mortage. My question is how long after closing will we recieve what is left?

  2. #2
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: How Long Does It Take to Receive Money from Trustee After House is Sold

    What makes you think anything will be left? The equity can be used to defray the other debts. There's only a $5000 homestead allotment (and I'm not clear you'll even get that) and it's even more muddied if there was medicaid involved.

  3. #3

    Default Re: How Long Does It Take to Receive Money from Trustee After House is Sold

    There is no medcaid involved. The Debts were ours not my mother-in-laws. The Equity far surpasses the debt. The trustee has told us that we will recieve the rest. I was just asking the question of the time frame of when we recieve it after ours debts are resolved.

  4. #4
    Join Date
    Sep 2010
    Posts
    478

    Default Re: How Long Does It Take to Receive Money from Trustee After House is Sold

    The process will take six months to one year AFTER the claims bar date passes. When is the claims bar date?

    Des.

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