Trustee asking for.......

[ronaldk]

Hi, this is our first post, we filed chapter 7, no assets. Our 341 meeting was just over a week ago. In today's mail we got a letter from the trustee requesting all of our records for any refianceing we have done on our home and bank records for the last three years. I don't understand why this is happening, at the meeting she did ask how we had come to this measure, and after we answered this said I am going to stop this meeting, no bye, no good luck nothing. I asked our attorney what does that mean and he said it means you did good, well if we did so good why is this happening? We called him today and he said they are just trying to make it harder for people to go bankrupt, and they want to make sure you aren't hiding anything. then he said not to worry as this is just a random pull, it happens to 1 in 20 filers. Not to worry about it, everything will be fine, well i am worried, could someone tell us if this is usual or not, i am worried this trustes is looking for a way to dismiss the case.
thanks
peg

[CATCHMEIFYOUCAN]

ronald k

Hi, this is our first post Welcome to the FORUM .. Best Site In Town ! , we filed chapter 7, no assets. Our 341 meeting was just over a week ago. In today's mail we got a letter from the trustee requesting all of our records for any refianceing we have done on our home So You HAVE AN ASSET ! Your HOME ! and bank records for the last three years. I don't understand why this is happening, at the meeting she did ask how we had come to this measure, and after we answered this said I am going to stop this meeting, no bye, no good luck nothing. I asked our attorney what does that mean and he said it means you did good, well if we did so good why is this happening? Unlucky Draw ! Sorry to hear you have to go through this ! We called him today and he said they are just trying to make it harder for people to go bankrupt, and they want to make sure you aren't hiding anything Thats all that it is ! . then he said not to worry as this is just a random pull, it happens to 1 in 20 filers Again, UNLUCKY Draw. . Not to worry about it, everything will be fine If you have nothing to hide and can provide all that the Trustee has asked for and trust your lawyer - you'll be alright. I know it's a big pain in the ass, you'll get through it! , well i am worried, could someone tell us if this is usual or not, i am worried this trustes is looking for a way to dismiss the case. I wouldn't say he is looking to try and dismiss the case he is just making you work a bit for the discharge and looking for anything that could bring in more money to pay the creditors! Just provide the Trustee with all that he is asking for and you'll be fine. Frustrating - I know! I converted from Ch13 to Ch7 (no assets) and I don't even own a home. When it got close to the last day of objections the Trustee filed an "asset notification letter" to all the creditors! I'm like what the "f" ? ! ! ! Finally after realizing I really don't have any assets and owe big time on taxes he filed "no asset/distribution report, I'm just waiting for the CLOSING of my case. I know its just an admin thing. But I want it done and over with and BEHIND me! Hang in there my friend. YOU have much SUPPORT in here !

Best Wishes Catch Me IF YOU CAN !

[CATCHMEIFYOUCAN]

ronald k

opps my first post and I put it in the wrong one before, so am trying again. We filed chapter 7, no assets, our 341 was a little over a week ago. During the meeting the trustee asked how we got to this measure, after our answer she said i am going to end this meeting, she wasn't very nice, no bye, no good luck nothing. In todays mail we recieved a letter from her office requesting all of the paper work for any refianceing we have ever done on the house and three years of bank statements Ahhh huhhh, she is looking for MONEY you might be hiding (not saying that you are) but any discrepancies with your bank accounts of the sort! . Is this normal? (I would say it is, because you do have an asset - YOUR HOME!) Our attorney says says they are just trying to make it harder for people to go bankrupt and hope they don't have all the papers. he also said they do a random pull one out of 20 filers get pulled, and we shouldn't worry about it, they will glance at the papers, and everything will be all right. TRUST HIM ! Well, I'm not comfortable with that answer, i am so worried she is looking for a way to dismiss the case no no no, she is looking for hidden MONEY she can pay the creditors and of course get a percentage herself! , and if she does what then? i will be recalling agian on Monday and staying on him till i get a answer i understand, but till then anyone who could give us some advice it would be most welcome. BEST ADVICE: PROVIDE ALL THAT THE TRUSTEE REQUEST OR YOUR CASE COULD AND WILL GET DISMISSED! GET THOSE BANK STATEMENTS!

BEST WISHES, CATCH ME IF YOU CAN !

[SinkingFast]

Your attny is right. There are random audits now. On average, 1 in every 20 cases are pulled for review.

Could be you were the lucky number.

Could be you were pulled because of discharging in excess of $100K in Unsecured debt with few if any assets and no "Totality of Circumstance" to explain your situation. ie,.......... Job loss, death of a spouse, disability, some devastating circumstance totally beyond your control.

There have been others post here that the UST's Office asked for supporting documentation. So you aren't alone.

The others provided what was asked for. The Trustee/UST reviewed the info, and that was it. They were discharged right on schedule.

[ronaldk]

Thanks for the replies, it makes me feel a little better to know that this may just be one of those random draws, but it doesn't make the "not knowing" any easier, and yes I forgot that our home is an asset, but there is only according to our last appraisal fourteen thousand in our home and as I type there are 8 homes on my street alone for sale. The reason we are fileing is due to the fact that my husband job (auto tech) has slowed down, and techs only get paid book hours not per hour, so it isnt like we went on a vast shopping spree or anything like that, we made 2k less last year then we did the year before, we are not claiming over 100k in debt. So tomorrow it is off to the bank for the statements, and we have all of the re-fi stuff but one which is missing some pages, and we will be stoping by there tomorrow too, so thanks again, this board has been a God send, by the way will they actually look through all the papers. or just glance at them, like our attorney said, and am trying to trust our attorney, but it's hard when you never get to talk to him. I'll keep you posted.
Thanks again
Peg

[CATCHMEIFYOUCAN]

Missing Papers

So tomorrow it is off to the bank for the statements, and we have all of the re-fi stuff but one which is missing some pages, and we will be stoping by there tomorrow too, so thanks again, this board has been a God send, by the way will they actually look through all the papers. or just glance at them, like our attorney said, and am trying to trust our attorney, but it's hard when you never get to talk to him. I'll keep you posted.

If you are missing papers, depending if the information is pertinent to the case you may want to have an affadavit already written up as to why you cant provide the missing papers, just to cover your butt. Trustees are different state to state, case to case. Sounds like your Trustee wants to be thorough in trying to find any discrepancies that could produce extra money as they want 3 years worth of bank statements.

Best Wishes, Catchmeifyoucan

[BKSorrow]

I know it's been a while since you posted this but may I ask what finally happened? Did you supply to the loan docs? I am in the same position and want to know how it turned out for you. Were they okay with you not being able to locate some of the documents or did they want absolutely everything?

[Minnymouth]

When you are missing documents, just place a phone call to the lender, tell them you need a copy. If they won't cooperate, just put a note in with your documents that you tried to get copies but lender would not comply and the Trustee will request them himself.

Any equity in your home is considered an asset as long as no liens are against it. If it just a small amount, most Trustees won't waste the effort to go after it. Too expensive for them, nothing gained.