just filed chapter 7, assest question

[Jefferson24]

Just filed chapter 7 about a week ago. How long until it is ok to put a vehicle in my name. It is already paid for and worth around $5,000. It is a gift. It is not listed as an assest on the paperwork we already filed because we do not own it yet. Does the trustee concern himself with acquisitions that happen after you file or just with stuff prior to the filing date?

Also, at the 341 hearing, when asked about property transfers and such should I just answer questions pertaining to things that happened before the filing date or is everything before and after fair game.

Thanks

[LuciluS]

At the 341 hearing:

It is my understanding your are asked by the Trustee if you read your completed bankruptcy papers. Trustee will also asked if anything has changed.

IF you received that vehicle as a gift during this time you would be required by law to tell Trustee. Some districts/states say gifts are income....others say it's an asset which can be exempted IF you have the $$ exemption value. If used as an exemption, I believe you/your Attorney will have to amend your bankruptcy. Trustee will probably tell you to amend.

Luci

[liz417]

I would wait until after your 341 just to be safe.

[mmenz22779]

at your 341 they will ask you if anything has changed, the you tell them yes, i got a gifted truck worth $5000, they are going to look at you and you might be digging your self a big hole.

Wait till after discharge then do it. If you do it before then you are going get on the trustees watch list and you want to avoid that at all costs.

Yes a Bk is everything before but you also have to explain anything new or will be new in the future, the future after discharge can be upto a year, but i would not worry about that too much after discharge.