bk tustee coming to house.

[bigtim6656]

I am 24 a college student and still live with mom and dad. Someone told me the court may come to look at my house during the bk case. It so how will they know what is mine or my parents. Not that I am trying to avoid reporting stuff. Just that I do not want them saying the 42 inch lcd tv I have in my room is mine and not my dads as it is my dad. He is just nice enough to let me use it. DO I need to separate things or what. What are the chances they would come and look.

[mtbc]

It depends which district you're filing in but on average it's pretty unlikely they'll bother.

[bigtim6656]

properly be terrehuate as I live in sullivan indiana and it is a small town.

[lrprn]

properly be terrehuate as I live in sullivan indiana and it is a small town.

The chances of your trustee coming to your house to "look things over" is about the same as a meteor hitting your parents' house today

The sole reason a trustee or the court would ask someone to come to the home to examine the contents is if they suspect bk fraud or blatant abuse after you file. As long as you are truthful in every matter on your forms, everything will be fine.

[justbroke]

Yes, the likelihood of the Trustee actually wanting to audit the contents of your home is as likely as getting struck by lightning. It is especially unlikely if you're a no asset case, which I'm thinking you are.

Best of luck to ya.

[bigtim6656]

Yeap no assets. I had all of them stolen the day after i came to terms that I need to file lol That was a joke.

Yes, the likelihood of the Trustee actually wanting to audit the contents of your home is as likely as getting struck by lightning. It is especially unlikely if you're a no asset case, which I'm thinking you are.

Best of luck to ya.

[mtbc]

I've wondered how much our trustee's questioning will surround the question of how we manage to have over twenty times more liabilities than assets! Just a glance at that ratio might make them want to be more sure we're not hiding assets somewhere or hiding some improper transfers. (Though it at least makes it clear why we opted for bankruptcy.)

[AngelinaCatHub]

If our Trustee did come over, he'd probably slip me a $10 bill and tell me "things will be better". 'Hub

[justbroke]

Some of this is just common sense for the Trustee. Yes, some is probably a mathematical formula, but think about it. You earn over $100K a year, live in a 4,000sf plus McMansion, have $100K in a retirement account, have 2 luxury cars, a boat... and then you claim everything else is exempt! Something doesn't make sense.

Especially in Florida, where we get only $1K in a wildcard exemption (if you claim or receive the benefit of the homestead exemption). Yes, $1K for everything but your car!!! This is probably why FLSB (Southern District Florida) probably does more home audits than anyone else. I think it's wrong for the Trustee to take the position that everyone's lying, but it is what it is.