Trustee just asked for bank statements

[NY1]

The trustee asked for me to provide him with bank statements from 3 months prior to my filing. What exactly is he looking for? Obviously to see how much money i have in the bank. But is there anything that would be flagged? In the past couple months before my bankruptcy, I borrowed money from relatives to pay my mortgage because i was financially struggling. I borrowed sometimes $1500 to pay my mortgage. I deposited cash and then payed my mortgage with it...Is this a problem?

[keepmine]

Likely looking for large deposits or withdrawals.

[justbroke]

Exactly, the Trustee is looking to see if you had any interesting transactions. Generally speaking a large transaction is something over about $500. The Trustee may also be looking to validate some of your expenses.

The $1,500 cash infusions will probably generate some questions. I think you have the answers, but the Trustee is going to ask if you paid back your relatives and/or are you required to pay them back! They are technically an unsecured creditor so the Trustee will be looking to see if you made preferential payments to them.

[NY1]

okay here is the deal.. i have a joint account with my mother. We both have other seperate accounts. I needed money to pay some bills and my mother gave me cash which i deposited into our joint account and then paid my mortgage with it . Is this a problem?

[justbroke]

I can't tell you if the Trustee finds it a problem. They will be looking for how you moved money around. I think they may just question you on what I wrote above. it's all about preferences.

[whipster1]

You are lucky. I had to provide bank and brokerage statements for 1.5 years. The trustee can ask for pretty much anything they want.

[backtoschool]

I had to provide bank statements going back a year and the trustee looked at every deposit and every withdrawal over $100 or so.

My trustee asked me about several large deposits during my 341, and I had to account for how they were spent.

If you can account for how the deposits were spent, you may get some questions at the 341, but you will be fine as long as you answer them in detail.

[ecsclb1724]

I had to provide bank statements going back a year and the trustee looked at every deposit and every withdrawal over $100 or so.

My trustee asked me about several large deposits during my 341, and I had to account for how they were spent.

If you can account for how the deposits were spent, you may get some questions at the 341, but you will be fine as long as you answer them in detail.

yikes that's crazy!!! My husband and I didn't have a debit card for like 3-4 months (we lost it and just didn't order a new one) so we were living on cash and had lots of cash withdraws. There is no way I could account for every withdraw over $100 except that it went for groceries or something, we're not living large by any means!