Question on trustee and money

[quietsound]

How long does the trustee watch money coming in and out of your account. I mean is this constantly watched the entire time your on the chapter 13 plan??? Also, does anyone have any idea about paypal and does anyone have any personal knowledge about a trustee finding out about your paypal account. paypal.com that is.....

thanks!

[CATCHMEIFYOUCAN]

I had a paypal.com account and a credit card by them, i listed the credit as one of my debts and no longer have access to the paypal.com on line account (domino effect - I guess). I would think the Trustee can ask for your bank statements while in a Ch13 anytime he/she wants. I noticed when I was at my 341 meeting an amount of about $700 something dollars was circled on one of my statements (I was just glancing at the paperwork). So I'm assuming they really do look at what you are spending.

Catchmeifyoucan

[quietsound]

see, one of my jobs pays me by paypal. I don't have a credit card with them but only a debit card which acts like a check card. i can withdraw cash from it if i want or i can transfer it to my checking account. or i can pay bills and such using the debit card or shop with it..........................i just wanted to know if anyone out there who is doing a chapter 13 has a debit paypal card not a credit card and if they use it

[CATCHMEIFYOUCAN]

I do have one of those, but I never used it, I just used their credit card. You have to list it as a debt. Just like a "checking account," (like an "overdraft account, I would assume). Im thinking you withdraw from that account as people pay you through pay pal on their purchases? I would think its listed as income but a very minimal amount, unless your getting paid BOO KOOO bucks every day/week/month/year. Im sure your Trustee would want an estimate of how much you make a month from it?

I would just ask your trustee or attorney, best wishes catchmeifyoucan

[quietsound]

I already told them about all the income I made from the company that pays me through paypal, they have a print out of the money that was in the account there and then what was transfered to my checking account.........they have a print out showing what i made from the company, then they have a print out of the paypal transactions showing me getting paid, then they have a print out of it going into the checking out. So I did tell them about the company that pays me from there......

I know that paypal is not going to give them information about my account

[CATCHMEIFYOUCAN]

Than you should be aiiight

Catchmeifyoucan

Back to your original question(s)

How long does the trustee watch money coming in and out of your account. I mean is this constantly watched the entire time your on the chapter 13 plan??? Also, does anyone have any idea about paypal and does anyone have any personal knowledge about a trustee finding out about your paypal account. paypal.com that is.....

If you Trustee thinks you might be hiding large amounts of money (which I guess your not) than you really have nothing to worry about, unless your expecting some big "pay day?" eh ???

As long as your making your ch13 payments on time, maybe they won't inquire so much about your accounts. I dunno, just all speculation, I would think they would run credit checks on ya - who knows !

[HHM]

The chapter 13 trustee, generally, will not monitor your bank accounts. I suppose he would have the right to request bank statements, but it's not part of the normal operating procedures of the chapter 13 trustee to monitor you bank account. They rely on your income tax returns to track income changes (you have to supply the trustee with copies of each years tax returns for every year you are in a chapter 13).

It's actually rare for a trustee to modify a confirmed plan even when their are increases in income.

[dac67]

When do they tell you have to send in your tax returns? We have been in our 13 since April 2006 and I have never recieved a note stating this. I also read the conditions of our confirmation, and it didn't say anything about turning in our tax returns.

[HHM]

When do they tell you have to send in your tax returns? We have been in our 13 since April 2006 and I have never recieved a note stating this. I also read the conditions of our confirmation, and it didn't say anything about turning in our tax returns.

Well, you only filed this year, and tax time is still a few months away. I suppose some trustee's may not care, but based on the Chapter 13 trustee handbooks I have seen, it is generally understood that a debtor will provide the trustee with a copy of their tax return each year.

[zoomzoom]

We were told by our attonrey that our Trustee does not require us to submit tax returns every year (only cases under the new law do).... We filed in Sept of 05, so we've had one tax return made to IRS post confirmation and Trustee did not request copies of it - and we had a slight increase of income last year due to my husband's military deployment (which is tax free... not sure if tax free income will show on your W2). We live in Eastern PA.

[GoingUnderInNV]

They rely on your income tax returns to track income changes (you have to supply the trustee with copies of each years tax returns for every year you are in a chapter 13).

HHM, I hadn't heard that, and my attorney hasn't said anything about it. Is that in the law, just something that trustees commonly do, or only in certain Districts?

Thanks!