Puerto Rico Sample Letter for Discharge of Debtor and Order Approving Trustee's Report of No Distribution and Closing Estate [Your Name] [Your Address] [City, State, Zip] [Email Address] [Phone Number] [Date] [Bankruptcy Court] [Address] [City, State, Zip] Subject: Discharge of Debtor and Order Approving Trustee's Report of No Distribution and Closing Estate — [Case Number] Dear [Bankruptcy Court], I am writing in response to the discharge of the debtor and the approval of the trustee's report of no distribution and closing estate in the case of [Debtor's Name], filed under Chapter [Chapter Number] of the Bankruptcy Code, in the [Bankruptcy Court]. I, as the duly appointed trustee in this case, hereby submit the following documents for consideration and approval: 1. Trustee's Report of No Distribution: Enclosed, you will find the trustee's report of no distribution, providing a comprehensive overview of the assets, liabilities, and claims in this bankruptcy estate. This report certifies that no property or funds were available for distribution to unsecured creditors. 2. Notice to Creditors: A copy of the notice given to all known creditors, informing them of the bankruptcy filing and their rights to submit claims within the specified timeframe, is attached. 3. Notice of Intent to Discharge Debtor: Also included is the notice of the trustee's intent to seek a discharge of the debtor, as required under the relevant bankruptcy laws. 4. Affidavit in Support of Discharge: I have prepared an affidavit affirming that I have reviewed the debtor's petition, schedules, and statements, and that they are true and accurate to the best of my knowledge. Based on a thorough examination and investigation into the debtor's financial affairs, I am pleased to report that the debtor has fully complied with all applicable requirements and provisions of the Bankruptcy Code and has satisfactorily completed the required debtor education course. Therefore, I respectfully request that the court enter an order approving the trustee's report of no distribution, granting the discharge of the debtor, and closing the estate. Upon receiving the court's approval, I will proceed with the necessary steps to finalize all administrative aspects of this bankruptcy case, including providing notice to all interested parties and filing appropriate documentation with the relevant agencies. Should you require any further information or have any questions, please do not hesitate to contact me at the phone number or email address provided above. I thank you for your attention to this matter and your prompt consideration. Yours sincerely, [Your Name] [Chapter [Chapter Number] Trustee] [Case Number] Keywords: Puerto Rico, Sample Letter, Discharge of Debtor, Order Approving Trustee's Report, No Distribution, Closing Estate, Bankruptcy Court, Chapter [Chapter Number], Bankruptcy Code, Debtor's Name, Trustee's Report of No Distribution, Notice to Creditors, Notice of Intent to Discharge Debtor, Affidavit in Support of Discharge, Debtor Education Course, Bankruptcy Laws, Assets, Liabilities, Claims, Administrative Aspects, Interested Parties, Documentation, Agencies.
Puerto Rico Sample Letter for Discharge of Debtor and Order Approving Trustee's Report of No Distribution and Closing Estate
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FAQ
Filers are usually hoping to get a bankruptcy discharge. That's the order that wipes out certain debts and gives you a fresh start. A dismissal is very different. It means your case has been stopped before the court granted a discharge.
Chapter 11 is the chapter used by large businesses to reorganize their debts and continue operating. Corporations, partnerships, and limited liability companies cannot use chapter 13 to reorganize and must cease business operations if a chapter 7 bankruptcy is filed.
Though Chapter 7 stays on your report for up to 10 years, the debt you discharge may go away sooner. That's because most negative accounts fall off your report seven years or so after any final payment or activity. But some Chapter 13 debts may show up on your report after the bankruptcy drops off.
Closed Without a Discharge Cases are closed without discharge when the debtor does not complete the required debtor education required as a condition of discharge. The court may also close your case without discharge if you failed the last step for getting rid of debt. Your filing may not have been filed timely.
While it's not possible to remove a legitimate bankruptcy from your credit report, its impact wanes over time until it finally leaves your report after seven to 10 years. In the meantime, you can file a dispute with the credit bureaus if your bankruptcy contains any inaccurate information.
To remove the bankruptcy before the seven or ten years elapse, you'll have to prove that the bankruptcy was placed on your report by mistake or that the bankruptcy has remained on your credit report past the statutory timeline as defined by the Fair Credit Reporting Act (FCRA).
This requirement protects consumers from having any inaccurate information on their reports that would unfairly harm their credit. But this also prevents information from being removed when it is correct. So when you have a bankruptcy case on your credit report and it's accurate, it can't be removed early.
Accurate items in your record can't be removed before the term set by law expires, which is seven years for most negative items. For example, if you missed payments on your credit card, your dispute to remove that information will be denied.
