Trustee asked for add'l documentation at 341 - what next?

[lalap123]

My 341 was a couple of weeks ago, and the trustee said that my case was being "re-scheduled" (I think that was the word he used) until April 23 and that I needed to send him my tax return when I finished it and the last three months of bank statements. I just sent my attorney the last of the requested items this past Friday. What happens now? Should I be worried since the trustee asked for statements that he is suspicious of something and will take until the 23rd to pick my case apart?

The other thing I'm worried about is that there are several Paypal deposits on my bank statement, and I did not list Paypal as an account (b/c I completely forgot). I only use it when selling items on Ebay, but a couple of deposits were for around $300. Should I anticipate at this point that the trustee will be asking my attorney for my Paypal account statements?

Lastly, should I expect to have to attend another meeting or will all of the work from now on take place through my attorney? Does this postpone my discharge even if he doesn't ask for anything else?

[Moneypenny]

I have no experience at all, but I wonder about the paypal deposit. It is quite small. I would ask your lawyer about it. Maybe someone here can comment:

will the paypal deposits count as "income" in the 6 month lookback, which means it would be doubled to represent the yearly income, and count in the means test? This is what I am wondering about.

are you below median? by how much?

i dont know about the delay thing, but i would assume that just asking for proper records does not mean there is any problem. Everyone is supposed to put in these kinds of records and asking for them may just be dotting the i's and crossing the t's.

MMP

[justbroke]

The panel Trustee is looking for assets to sell/administer, not to pull your case apart and dismiss you. The UST is the one that dismisses you and no news is good news when it comes to the UST. Don't anticipate anything. Only do what you're instructed to do. Much of this is routine.

As for whether you need to attend, ask your attorney. You usually don't need to attend the 2nd (continued) meeting since you are represented by an attorney.

[lalap123]

MP-
Yes, I am under the median, but only by about $1000. Funny thing is, my attorney specifically told me we didn't have to include income from Ebay as part of my 6-month look back. Prior to her telling me this I had already added up the amount of money that I made minus the selling fees, Paypal fees and shipping/handling costs. In the end I only netted around $400; however, in the meantime I've read that certain districts do count money made on Ebay as income. Thus my worry that the trustee will want to open up this can of worms b/c of the Paypal deposits. Even though it looks like a lot was deposited, in actuality it wasn't nearly that profitable.

From what I understand, you would add the previous 6 months of income together and then double that to see if you are under the median income for the year. Of course your annual salary could be different from what you just made in the 6 months prior to filing, but as long as you're under the median you are eligible for chapter 7. In my case, the money I made in the six months prior on Ebay averages out to be very little additional income per month.

[lalap123]

So does the trustee not have to start the clock for my case until the 23rd of April?

[justbroke]

What clock? If you're asking about the discharge bar date, then the clock is set as soon as you file. The discharge bar date is set based on when your first 341 Meeting is scheduled. It's always 60 days after your first scheduled 341 Meeting. It can be extended if the Trustee can show cause as to why it should be extended... but almost never gets extended.

[Moneypenny]

dont know about the clock.

but i have a similar question as yours, although i am way under the median. i got my yearly royalties check during the lookback, which counts double (300X2=600). However, the expenses I incur as writer exceed the 300 dollars a year i make at it, which counts as 600 a year on the means test. But should it count as income at all if I dont make a profit? Similar to your ebay question.

I would ask your lawyer again but if s/he is sure maybe that's right. Also, this is the kind of simple means test question you could get an answer to in a free consult with another lawyer, as long as you knew they weren't 13 pushers, which would cloud the waters for you rather than make it clearer.

[LALADY]

Don't know why attorney would advise that eBay isn't income. IRS thinks it's income.

[lalap123]

I thought if you are not running a business and if you basically are losing money on the sale of household items (everything I've sold is stuff that I had bought at some earlier date and was selling at less than what I originally paid), then it's not considered income. Anyone shed any light on this? I thought this was the reason my attorney didn't make me include it...I guess I'll find out soon one way or another.

Also, is the date of 4/13 given by the trustee (my case was "continued" at the original 341 on 3/16) the "deadline" for when I should expect to hear something regarding the additional paperwork I submitted, or can he take longer?