Assets

[helpme123]

General question?

Do Chp 13 trustees do a search for all your assets (land,bank account, etc) or do they mostly rely on what was supplied to them when you file?

[despritfreya]

Depends on the Trustee. However, if you try to hide something and get caught. . . "go directly to jail, do not pass go, do not collect $500.00". Not worth the risk, ya think?

[newbie2]

Disclose all of your assets. And yes, the can and oftentimes do a search for assets.

[forgotten]

As others mentioned, don't try and hide anything, its REALLY not worth it. In my 341 the trustee asked the lady in the case before me if she had any property other than what was listed in her petition, she answered no, and the trustee then asked about a particular vehicle. The lady said it was repossessed six months before she filed, so in this case she had a good answer, but as you can see the trustee was obviously looking for unlisted property.

[tobee43]

i absolutely agree with the previous PP's ...i have actually heard that some trustees sent appraisers out to check out and determine values of one's assets. very scary to me.

[platter]

I think that if they sent someone out to determine assests, it would have to be someone that they think has a lot more than what is disclosed, (unless it's a random audit), there'd have to be a really bright red flag for them, I'm not afraid of them sending someone to me because I'm sure they would be selective as to who they'd visit, don't you think?