What do Trustees look for and may find suspicious

[Jengo]

Out of my curiosity and going through the forum which has helped tremendously and I thank everyone who is posting and trying to help others through the BK process as it is extremely stressful.

I know that Trustees look for the more obvious such as large transfers of money, property transfers and attempting to hide assets, closing accounts out that are substantial in nature, etc.

But I am curious, does anyone know or can add to the list of what Trustees are looking for when they go through the BK petitions and what might set off a red flag for them to investigate further. I'm not sure if there is a thread or subforum for this type of question. I think it may help others on the forum to help give them idea of what NOT to do if they anticipate having to file for BK in the near futurem the amounts that they focus in on the most. To my understanding, if it's something small such as 300 transfer, etc., typically is not scrutinized. I have read elsewhere though that if there is a transfer of more than a 1,000 or some such deal, they will be looking at this. Is this 1,000 mark the magic number so to speak the Trustee is looking for when going through financial statements, checks written, etc?

[ApresMoi]

I can tell you that someone in this forum posted some pdfs of the BK forms that are actually used to train BK trustees. The pdfs are marked up with red flags where trustees are supposed to check carefully for omissions, errors, or mismatched information (e.g., information on one schedule that doesn't match info on another schedule). You might want to search the stickies for those documents. That's where (I think) I saw it.

[ApresMoi]

In case the below is not clear, the pds are actual Schedules that are marked up for training purposes. Certain areas are circled, to show a trustee-in-training what to watch out for.

I can tell you that someone in this forum posted some pdfs of the BK forms that are actually used to train BK trustees. The pdfs are marked up with red flags where trustees are supposed to check carefully for omissions, errors, or mismatched information (e.g., information on one schedule that doesn't match info on another schedule). You might want to search the stickies for those documents. That's where (I think) I saw it.

[justbroke]

The "Annotated Statements and Schedules" that is being referred to, is hard to find these days. There is a link to it from the BK Forum Wiki, but the file isn't there. I have the file, but having difficulty attaching it to anything.

FYI, the filename is "AnntdStatement_Schedules.pdf"

[momofthree]

If someone finds them, will you post a direct link? I'm interested in reviewing them just for curiosity's sake.

[ApresMoi]

I have scoured a bunch of areas and can't find it either (including checking my bookmarks). I'll post back if I find it.

[justbroke]

I actually have it but need a place to put it... looking for a place to put it now.

That's the best I can do. I have exceeded my "quota" here on BKForum. I hope this is okay.

http://www.mediafire.com/file/yetjj2vmdoo/AnntdStatement_Schedules.pdf

[Jengo]

I actually have it but need a place to put it... looking for a place to put it now.

That's the best I can do. I have exceeded my "quota" here on BKForum. I hope this is okay.

http://www.mediafire.com/file/yetjj2..._Schedules.pdf

Thank you. That's what I was looking for. I tried the above links on original post and few others down below it but the link was broke. <----oops. I though I was posting on the other thread where the links were. I tried those links and nothing came up.

[justbroke]

I tried the above links on original post and few others down below it but the link was broke.

What above links or below links? Don't understand.

[ApresMoi]

Found it:

http://www.bkforum.com/wiki/Image:AnntdStatement_Schedules.pdf?

[ApresMoi]

Oops. sorry about that. Did not check the Wiki link (or read earlier posts before posting the broken link). Just Broke is right, no file there. I have the file on my computer as well.

[justbroke]

ApresMoi, the Wiki one doesn't seem to actually work.

[Jengo]

I actually have it but need a place to put it... looking for a place to put it now.

That's the best I can do. I have exceeded my "quota" here on BKForum. I hope this is okay.

http://www.mediafire.com/file/yetjj2..._Schedules.pdf

This was kind of what I was looking for, although very helpful and going through it. It looks like my attorney did a good job. Plus a lot of those forms I never even filled out because I don't have property, etc. Well, it was filled out and submitted but nothing there because I don't own property, etc.

What I was curious to look at is what prompts a major red flag and further investigation by the Trustee and the US Trustee. For example, a person has a substantial overseas account that is left out. Or there is a savings account that had 5,000 in it and all of a sudden the account was closed. That type of thing. I was hoping to find something similar to an itemized listing of the red flags that go up. I've read a few places on the forum of kinda similar situations that I stated above and then the US Trustee got involved with their case and began an investigation.

[Jengo]

What above links or below links? Don't understand.

Sorry, Justbroke, I thought I was posting on the sticky that had the links in it. When i scrolled up and saw that the thread was actually the thread that I had started.

[ApresMoi]

Both situations you mentioned will raise a red flag for a BK trustee. You can go to their website (Google 'United States Trustee Program') to find pdfs on all kinds of topics, including case studies of bankruptcy fraud, etc. As long as your are honest, you do not need to worry.

What I was curious to look at is what prompts a major red flag and further investigation by the Trustee and the US Trustee. For example, a person has a substantial overseas account that is left out. Or there is a savings account that had 5,000 in it and all of a sudden the account was closed. That type of thing. I was hoping to find something similar to an itemized listing of the red flags that go up. I've read a few places on the forum of kinda similar situations that I stated above and then the US Trustee got involved with their case and began an investigation.