TRUSTEE...Research that they Do?

[BKINAZ]

Just asking for general conversational purposes...how active is a trustee in researching your case? Do they pull DMV records for titles, credit reports, audit...or do they rely solely on that first meeting where you supply bank statements, tax records and that piece of paper you sign that says you are telling the truth and you are subject to perjury etc?

[StartingOver08]

In our district they research extensively in addition to the info you provide. In my case the panel Trustee also pulled the public records for business filings to see what companies I owned (currently and in the past). Of course I did not know this until I got to the 341

[optimistic1]

Here is the best thing you can tell yourself.

They will go to the ends of the earth to find out everything about you, especially DMV records, credit reports, etc., etc.

If you follow that motto, then you wont have to worry about being potentially barred from filing a bankruptcy or even worse, prison time, for concealing assets.

[magyar123]

I think that really all depends on how liberal or conservative each district/trustee is, and of course how believable you present/represent yourself.

[Trixie007]

They will go to the ends of the earth to find out everything about you, especially DMV records, credit reports, etc., etc.

Man, that means I have to count my change jar? I usually save it for when I need to bribe a teenager.

[BKINAZ]

Optimistic...I really have to know where you get your handle! ;)

[freshstartfl]

I really don't think my Trustee did much research at all (not that I'm hiding anything, lol). She was talking to all of us in the room about wanting to get home because her spouse had outpatient surgery earlier that day, and my declaration of no asset was filed the same day as my 341. If she did any research at all, it had to have been prior to the 341 meeting.

[BKINAZ]

I think I wanna move...lol

Okay here's the deal, I have a 1966 Mustang worth $5,000...at least I say it is, btw it is. Are they going to come appraise it and tell me it's worth more? Go on my word? I think it is worth $5,000, but if they tell me it's worth $10k for whatever reason...I don't want to pay another $5000 to keep it. I have a $5,000 exemption I would use to keep it.

[TEW]

I think I wanna move...lol

Okay here's the deal, I have a 1966 Mustang worth $5,000...at least I say it is, btw it is. Are they going to come appraise it and tell me it's worth more? Go on my word? I think it is worth $5,000, but if they tell me it's worth $10k for whatever reason...I don't want to pay another $5000 to keep it. I have a $5,000 exemption I would use to keep it.

they may have it appraised if they think you didn't list the value

[BKINAZ]

That's what I am asking, if I tell them $5,000...is that good enough? BTW...the car...is not what this thread is about, just asking.

[jennordhavn]

My trustee didn't do any research that I'm aware of. Of course, I am not hiding anything, so even if he did research, he wouldn't come up with anything so I guess I would never know.

As for the value of the car, look it up on Nada or Kelly Blue Book and base your value on that. Then there will be no question as to the value. If the trustee thinks the value is low, s/he can order an appraisal.

[southernbelle]

You don't have to worry about the Trustee probing around if your values for assets look reasonable. If you grossly under value an asset in an attempt to defraud the court, you could be asking for some unwanted "special" attention from the Trustee. Be honest and prepared to defend your values and you'll be fine.

[optimistic1]

Optimistic...I really have to know where you get your handle! ;)

well see I am actually a pessimist, but i am trying to convince myself, but you already knew that