Help! Received letter from trustee

[lulabelle]

We got a letter of what our trustee is requesting prior to our 341. Along with the typical bank statements, tax returns, etc., he also wants:

Debtor's most recent Property Tax and Mortgage Statements for any real property owned by Debtor. If you claim a valuation lower than the value shown on the Property Tax Statement, you must provide a written appraisal or a market analysis including comparables, the qualifications of the author and a statement by the author that there is no relationship with the debtor.

I never told the real estate agent that did our market analysis that we were filing bankruptcy; only that we were considering selling the house. Now I have to go back and admit that we are bankrupt and ask her to write a statement? It took almost a month just to get the market analysis from her.

Also, our mortgage company does not send us regular statements. Is this something I can just request from them?

One more thing:

With respect to any payments listed in response to question number 3 of the Debtor's Statement of Financial Affairs, please provide a copy of the account statement relating to the payment made, and proof of payment in the form of the cancelled check or a copy of the bank account statement from which payment was made.

Is this the question that asks about payments made to creditors?

[Dst1]

You do not need to tell the real estate appraiser that you are filing BK. You might check your written appraisal; it could already contain the necessary language in mice type.

[justbroke]

I agree with DST. By reading what came from the Trustee, they are just trying to make sure you're not pulling a fast one on them regarding valuation. Some people will try to hide equity, so this Trustee seems to be a little more upfront about wanting to know how you reached the valuation of your property. Most Trustees ask this question anyhow, but usually at the 341 Meeting. The typical question is "how did you reach the value of your home as indicated on the petition?"

The question asking for canceled checks has to do with your Statement of Intentions Question 3. This is about creditors that you paid more than $600 in the 90 days preceding the filing of your bankruptcy. If that question is checked off as "none" you have nothing to do.

[albacore44]

Most Trustees ask this question anyhow, but usually at the 341 Meeting. The typical question is "how did you reach the value of your home as indicated on the petition?"

.

Yep, i was asked that question at my 341 last monday. Answer= Zillow & recent comparable sales. The trustee was satisfied.