Anyone else not asked for documentation?

[discombob1]

Sorry guys, I'm feeling a little paranoid. I filed pro se Chapter 7 in August. Sent the trustee 3 years worth of tax returns 10 days prior to 341. 341 was relatively uneventful, Report of No Distribution on PACER. Here's my freak out: I was asked for NO other documents. I showed up to 341 with paystubs back to January and bank statements for over 6 months...he asked for none of it. The only thing he asked about was the filing fee and I showed him the receipt. Is this normal? My income is below the median, is that why?

Thanks a ton!

[2manybills]

Sorry guys, I'm feeling a little paranoid. I filed pro se Chapter 7 in August. Sent the trustee 3 years worth of tax returns 10 days prior to 341. 341 was relatively uneventful, Report of No Distribution on PACER. Here's my freak out: I was asked for NO other documents. I showed up to 341 with paystubs back to January and bank statements for over 6 months...he asked for none of it. The only thing he asked about was the filing fee and I showed him the receipt. Is this normal? My income is below the median, is that why?

Thanks a ton!

You are just being paranoid, which is normal. We weren't asked for anything at the 341 hearing either. We were in and out in 3 minutes or so.

Welcome to the 60 days club!

[discombob1]

Thanks. I am not good at just waiting! I think that'll be the hardest part. Thanks for the reassurance!

[tcreegan]

Hi discombob,

Same thing here, except only 2 yrs of taxes....

Guess its better to over prepare and not need it than the other way around...

Tom in Colo

[LaurieM]

A trustee is a federally appointed attorney (at least in our area they are all attorneys - most who practice bankruptcy themselves as well) whose role is to protect the interests of your creditors, by scrutinizing your petition for assets above what your exemptions will cover. If there are any assets, or within your statement of affairs he/she can find something that would indicate you may have either hidden assets, transferred assets (again for the benefit of the creditor), those assets would be seized and divided among your creditors, who are notified of the assets by the trustee and asked to submit proof that you owe the creditor. If it's pretty clear there are no assets the trustee isn't likely to spend a whole lot of time on your case at the 341. Trustees, incidentally, are paid a percentage of what they can seize from debtors, in addition to the tiny bit they get from the filing fee.

[discombob1]

Laurie, thanks for that explanation. It makes sense, I truly have no assets and I'm sure that was clear from my petition. I feel better now!

[tcreegan]

Trustees get a whopping $60 bucks for a no-asset case!

Tom in Colo

[discombob1]

Wow. No wonder they want to find assets. Why would they do it then, do some of them consider it like public service? Or maybe helps them find clients? That's mind boggling.

[2manybills]

Wow. No wonder they want to find assets. Why would they do it then, do some of them consider it like public service? Or maybe helps them find clients? That's mind boggling.

They do it because they get $60 per case, so in California or Orange County, they are hearing about 20 cases per hour, that's $1200 per hour, times a 7 or so hour day, that $8400 a day. Even if they are there 1 day a week, that's $36,372 a month not including their regular practice or the percentage of what they recover in asset cases. I think that's pretty good income, if you ask me.