Chapter 7 with Assets...2 days in (technically)

[horse]

In real time this would be our 26 day after our 341 hearing but the clock technically started ticking 2 days ago because of "issues"...(sigh).

What I'm wondering...what do we do between now and the discharge day in 58-59 days? Do we live life normally? Can we spend money on other things besides bills (we have so many home repairs to do)? My daughter and her fiance wanted to move into our house next month for about 6 months to save money and help me (I'm not feeling well)...is that allowed? Or should we just hold our breath until it's over??

[JackBondLove]

Your BK estate has already been established as of the filing date. You can spend anything you like, although unless you have a specific exemption, you must fork over any cash that was on the books on the filing date.

[angles]

Can I ask what the issues are? I will be filing an asset case in the near future and appreciate any insight.

[nc73]

everyone keeps saying everything in the bank account on filing day is property of the bk estate but I look at the 341 meeting section and most trustees never ask to see the bank statement. what gives?

[backtoschool]

everyone keeps saying everything in the bank account on filing day is property of the bk estate but I look at the 341 meeting section and most trustees never ask to see the bank statement. what gives?

Most trustees (it depends on trustee and on district) will ask for a copy of your bank statements going back anywhere from 3 months to a year from your filing date. They usually ask for this a week or two before your 341 meeting, and your attorney sends it to them.

Even if the trustee asked for absolutely no documentation, your petition has a line for cash on hand at the time of your filing, and to lie about this would be perjury and fraud.

[nc73]

I guess I will hear something before my 341. At the moment I've been told that I don't need bank statements.

[frogger]

Presuming that you used a lawyer to file, you should know what is exempt and what is an asset. You can go ahead and live your life, however you must keep and maintain the things that are assets until they are disposed of or abandoned by the trustee.