This form is a notice of filing of the final report of the trustee and of a hearing on applications for compensation. The purpose of the hearing is to examine the final report of the trustee.
Illinois Notice of Filing of Final Report of Trustee, of Hearing on Applications for Compensation and of Hearing on Abandonment of Property by the Trustee - B
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How to fill out Notice Of Filing Of Final Report Of Trustee, Of Hearing On Applications For Compensation And Of Hearing On Abandonment Of Property By The Trustee - B?
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After Plan Completion: After all payments have been completed, the Chapter 13 Trustee will file a Motion to Return any Excess Funds to Debtor and to Terminate any Payroll Deduction by Employer. If the Motion is granted, the Court will enter an order granting the motion and issue two notices.
11 U.S.C. § 1104(b). The case trustee is responsible for management of the property of the estate, operation of the debtor's business, and, if appropriate, the filing of a plan of reorganization.
For most creditors the objection is about whether or not they are being treated correctly under the law. For the trustee the objection is usually about how a class of creditors is being treated and whether the plan complies with the requirements of the law on the whole.
When a chapter 7 case with assets is closed, the trustee files a final report that accounts for the disposition of assets, as well as the distribution of funds to creditors and to administrative expenses. The data from these final reports are compiled by the USTP for oversight and statistical reporting purposes.
A bankruptcy trustee can move to dismiss your Chapter 13 bankruptcy for non-payment. If the court grants this motion, you will lose the protection of your bankruptcy proceedings. The automatic stay will be lifted, you will not receive a discharge, and creditors can proceed with their collection efforts.