Does anyone know how much time a trustee spends reviewing docs for an average case?

[kathy4530050]

I'm just curious. If I give the (local) trustee several years of tax returns, 6 months to a year of business profit and loss statements, 6 months or more of bank statements, years of cc statements, a couple of mortgages, car notes, and whatever else he wants, how much time will he actually spend looking at this stuff? an hour? several hours? a day?

I really wonder if this stuff is actually scrutinized or if they represent lots and lots of hoops to jump through. I've got to believe that a person who does this day in and day out and is really busy can't put every single case under the microscope. Does anyone actually know?

Thanks!

[StartingOver08]

Kathy there is no way to really know. There are people to help the Trustee - its not just one person looking at your paperwork - the Trustee has a staff.

I was surprized a little at my 341, the Trustee pulled out a sheet of paper with every company I had ever owned or been a partner in going back to the beginning of time! Of course it is public record on the corps, she just downloaded from www.sunbiz.org and I had to give her a verbal 'update' on a couple of the company's that were waaayyy old (like over 15 yrs). So they check our documentation - but it might just be a cross-check to see if we have disclosed everything.

[kathy4530050]

Kathy there is no way to really know. There are people to help the Trustee - its not just one person looking at your paperwork - the Trustee has a staff.

I was surprized a little at my 341, the Trustee pulled out a sheet of paper with every company I had every owned or been a partner in going back to the beginning of time! Of course it is public record on the corps, she just downloaded from www.sunbiz.org and I had to give her a verbal 'update' on a couple of the company's that were waaayyy old (like over 15 yrs). So they check our documentation - but it might just be a cross-check to see if we have disclosed everything.

Thanks StartingOver--good to know! They have a staff--of course--never occurred to me. Your business background is much more complex than mine, but even still, I want to be as prepared as possible.