Can someone help me understand why a UST would want 2 years of bank records, cc records and such? I'm over the median and have over $100k in unsecured debt. I'm assuming that a UST will get involved once I file. What difference does it make when looking at 2 years of records versus 60 days? Are they going to say "uh, you purchased a nice TV 15 months ago.... case dismissed!" .... what are they looking for? Thanks and Merry Christmas to all!
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UST wants 2 yrs of records... why?
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You have high unsecured debt you are trying to discharge. Two years of statements can show a lot and they want to see your activity during that time and as previously stated, it's usually routine. They are just doing their job._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket"
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As pointed out, they are looking for certain types of transactions like insider payments and pre-petition transfers or maybe funds being stashed in another account that you did not disclose, that type of thing. They are not interested in the big screen you bought 18 mths ago.
If you are over median and have high debt you are subject to further review, but it is SOP and nothing to worry about. Remember the Trustee is looking out for their own interest and the interest of the creditors.
I found a 16 page paper that lists the various types of things that Trustee's are looking for when they review a BK petition and the documentation. It lists things for both a consumer BK and a business BK. It is pretty interesting! http://www.crfonline.org/orc/pdf/ref11.pdfFiled CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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OK! So I did a little more research and found a 60 page book on the justice.gov site for "Identifying Fraud, Abuse, and Error in Personal Bankruptcy Filings". This was just written as of 2007 so the info is pretty recent.
Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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Originally posted by dakota112 View PostHow would one provide thr TT with CC statements when you don't have them. My accounts i am pretty sure have all been charged off to collection agencies and I did not keep the statements going back more than one year and I doubt the CC companies will give them to me if I called them.Stopped Paying CC's 2/2009. Retained Attorney 1/10/2010 Filed 1/23/2010. Discharged 5/19/10 $187K CC, $240K 2nd,$417K 1st, No asset Ch-7
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I think what dakota112 is asking is what happens if you do NOT have them. The bank statements would probably not be hard to produce but most people myself included don't keep cc statements going back that far and you usually cannot download that far back online either. I am sure dakota112 isn't the only one who has faced this situation and I am sure the UST has a remedy.
Meatstick
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Originally posted by dakota112 View PostHow would one provide thr TT with CC statements when you don't have them. My accounts i am pretty sure have all been charged off to collection agencies and I did not keep the statements going back more than one year and I doubt the CC companies will give them to me if I called them.1/15/10 Filed ch7 2/18/10 314 meeting
2/22/10 Report of No Distribution
4/20/10 Discharged 5/20/10 Closed!
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Well, some of us are used to keeping our records a min of 7 yrs anyway. Also, with the electronic statements you just download them to your hard drive, they take up no room. Most of the time you can go back 7 yrs for electronic cc statements and more than two yrs for bank statements.
Looking at the posts where there are BK issues, there seem to be more issues with BK's when there is no documentation available to back up your figures.Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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If the UST asks for them, you better be prepared to present them to him. he could use this as a basis to dismiss your case. yeah, a lot of people put them in the Shredder, but filing BK is serious business. I prefer to anticipate that the UST might ask for anything, to me better to be safe than sorry, anticpate the worst, hope for the best. last year a poster here Jessegirl went through Hell trying to get all her statements when the UST asked for themStopped Paying CC's 2/2009. Retained Attorney 1/10/2010 Filed 1/23/2010. Discharged 5/19/10 $187K CC, $240K 2nd,$417K 1st, No asset Ch-7
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Ultimately you can send a request to the credit card company itself, I'd send a certified return receipt requested letter asking for such. If they don't provide take that to the trustee as evidence you tried to obtain the information required.May 31st, 2007: Petition Filed by my lawyer
July 2nd, 2007: 341 Meeting Held
September 4th, 2007: Discharged and Closed.
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