What do you do with all the "extra" money?

[debtmonster]

Do you think these trustees and court officials are stupid? Don't you think every scam imaginable has already been tried on these people? The trigger is they can usually tell when someone is full of crap.

You tell me what the trigger is for NOT LYING under oath. For me, it's called integrity. Anyone who supports the concept of committing fraud or lying under oath and publicly posts such support doesn't belong on a forum like this.

Nobody is supporting any lying. Now quit dodging the question and give me examples of how trustees and court officials actually catch you. Stop giving generalities. I am not advocating for anyone to do anything illegal. I am just asking for a technique on how they get a job done.

It's me asking, "How do they catch a person in a high speed pursuit?"

And you're answering, "That's bad and you can't do that."

A correct answer would be something like, "They follow them closely, touch bumpers and nudge them to the left or right and cause them to spin out."

Now that's the kind of technical answer I am looking for. You are putting words in my mouth and distorting my questions trying to make me look bad. Drop this personal vendetta. It's getting old already.

[LSUTiger32]

I am not sure what you are asking him to give you an answer to. I am just being honest here, I surely have no personal vendetta against you.

I don't think any of us know exactly what they do on the inside, but surely there are methods they use to weed out the ones that really look fishy. Of course they do random audits, but I think what OhioFiler stated is part of what they do. They instill the fear into people that it is NOT worth it to even attempt it, unless you really enjoy prison food.

Do some of the people slip through the cracks by fabricating their financial situation and benefitting from that.....sure! However, a lot of speeders don't get caught either. That's the way the ball bounces sometimes.

[MrSmithster]

to much money at the end of the month is not a good thing with a chapter 7, and with a 13, the tt will take a large percentage, at least from my understanding. i hope im wrong

[pcn]

I'd imagine it has to do with several things including, reviewing your records and knowing how to read people. People that act too confident, or too nervous. I think most people think they are better liars than they really are, and those who are trained can pick up on it.

[debtmonster]

If they had 30+ minutes to drill you at the 341, I think you guys would be right. But being that they have to rush everyone out to get to the next person, they really don't have time for that.

Just think, you would not have gone all that far unless you were serious about your finances. He sees your tax returns and your last 6 months of bank statements. He knows if you have money or not. The figures don't lie. You're either banking it or you're in poverty.

In today's economy, you know you need like $50,000+ per year just to be able to eat decently. The days of renting nice apartments for $500/mo. in this area are LONG GONE. Everything is doubled in price, so now you need double to live on to have the same lifestyle as 20 years ago.

[OhioFiler]

If they had 30+ minutes to drill you at the 341, I think you guys would be right. But being that they have to rush everyone out to get to the next person, they really don't have time for that.

Just think, you would not have gone all that far unless you were serious about your finances. He sees your tax returns and your last 6 months of bank statements. He knows if you have money or not. The figures don't lie. You're either banking it or you're in poverty.

In today's economy, you know you need like $50,000+ per year just to be able to eat decently. The days of renting nice apartments for $500/mo. in this area are LONG GONE. Everything is doubled in price, so now you need double to live on to have the same lifestyle as 20 years ago.

The UST is not drilling you. He's reviewing your submission behind the scenes. He has much more than 30 minutes to review your petition and can file an objection pretty much at his leisure.

[LSUTiger32]

The UST is not drilling you. He's reviewing your submission behind the scenes. He has much more than 30 minutes to review your petition and can file an objection pretty much at his leisure.

Yeah DebtMonster, I mean they do their "investigative" work behind the scenes before the 341. I think they pretty much have their minds made up whether or not they think there may be abuse going on which leads them into their lines of questioning. It's not like the 341 is the first time they have looked at your file.

[OhioFiler]

Yeah DebtMonster, I mean they do their "investigative" work behind the scenes before the 341. I think they pretty much have their minds made up whether or not they think there may be abuse going on which leads them into their lines of questioning. It's not like the 341 is the first time they have looked at your file.

Or the last time either. Petitioners with large debt levels generally receive more scrutiny from the UST.

[hereforinfo]

What I want to know is what triggers the court to know that you have all of this "extra" money that people seem to talk about after their bankruptcy is over and worry about you going into a Chapter 13 after you've been discharged from a 7.

How does the court know? Are they secretly polling your checking account to see if you have money left over every month after you're discharged?

I really don't have much left over only for the fact that we had 3 incomes before. Now we only have about 40-50% of the income we had in 2007. If I had the original incomes back, we could have a few grand extra like others here have said.

I am just wondering... let's say I go out and buy a car for $7,000 cash a month after discharge because I managed to save up or borrow cash from a relative. Is the court going to write me and say, "How did you buy that car and get it titled in your name only 60 days after your discharge?"

How would they know? If you had to furnish copies of your bank statements prior to your bankruptcy and you're no longer furnishing them after the bankruptcy, I don't see why people scare people in making you think you're going to be in trouble just because you have "extra" money left over. I thought as long as you are under the median when you file, then you are safe. Correct me if I am wrong and show me a few real live examples if you know. I am sure lots of people would like to know about this if it's possible.

My attorney told me I could buy a car now, but to make sure that I don't have too much equity in it and that I would be better off waiting until November. After reading a few posts on here, I think I am going to simply wait until the last possible day when the bank finally gets around to actually coming and take the cars. We have 2 cars financed by 2 different banks. So if one car gets taken 30 days after discharge and the next one goes 70 days after discharge, then I will try to buy a car on day 70 or 71... because public transportation = NO FUN.

You are confused. No one is saying the court will come after you for acquiring an asset AFTER discharge. What they are talking about is after you file, but BEFORE you are discharged that it could become a problem. There are any number of ways the trustee could find out. While you are waiting for discharge the trustee could decide he wants to look further into your case or the US trustee may get involved and start asking questions or for more documentation, at which point a new asset or chunk of cash could be uncovered.

[debtmonster]

You are confused. No one is saying the court will come after you for acquiring an asset AFTER discharge. What they are talking about is after you file, but BEFORE you are discharged that it could become a problem. There are any number of ways the trustee could find out. While you are waiting for discharge the trustee could decide he wants to look further into your case or the US trustee may get involved and start asking questions or for more documentation, at which point a new asset or chunk of cash could be uncovered.

But my trustee said on Pacer:

"I hereby certify that the estate of the above named debtor(s) has been fully administered. I request that I be discharged from any further duties as trustee."

and

"The information required by 11 U.S.C. Sec. 521(a)(1) as provided by the debtor(s) in this case is complete to the satisfaction of the trustee."

So should I not be in the clear and able to buy things now, even before discharge? Or do you think this could be a trick? I bet TONS of people who file bankruptcy have no idea that there is a system like this that they can check on their status. I would have never known until I found this forum.

[pookieny]

I don't get why it's being said that if you have too much cash after filing the judge can find out and switch you to a 13, when I've seen it stated on this forum a few times that you could win the lottery after your 341 and be free and clear???

[debtmonster]

Seriously? You can win the lotto after the 341? I thought you had to disclose if you won the lottery. If I win, I will have to call my attorney and see what they say.

[pookieny]

Well, I thought bankruptcy on chapt 7 was a look back on your income/debts/assets 6 months before you file, not after.

[pookieny]

[music12]

that's right, except there was a story about a ch7 filer who won around $100,000 in the lottery soon after filing and the trustee took it. i don't think the trustee had any right to take it, but did so anyway. the debtor would have to go appeal the trustee's decision, which take a lot of energy obviously, and money as well.