I live in VA and I was wondering if anyone can tell me if the trustee looks at your bank accounts several months back or just current? Our business failed back in the fall of 2009. We had money in the account then. Now we might have $100.00 in the bank. Does the trustee look to see where the money is sent and what is deposited? The other question I have is how bad are the 341 meetings in VA? I am scared to death. I feel like such a loser.
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I wonder if it would be possible for you go to along and see some of the 341 meetings, how public they tend to be; that might help to reassure you. Perhaps someone here can comment on if that's permitted.
You certainly can't be sure that the trustee won't want to look a ways back. Partly it depends just on what's routine for them, and if they smell anything fishy. -
Toomuch,
Finding oneself in the position of needing to file BK does not make one a loser. None of us ever expects to find ourselves in the desperate financial situations that lead us to this forum. I know in our case we simply made a series of decisions, each of which seemed appropriate at the time, that turned out collectively to have been misguided/unwise. You're surely not alone!
Your attorney will ask you for however many months' bank statements are required. I do think we were asked to provide six months' worth (in Ohio). It is, of course, not out of the ordinary to find that people filing bankruptcy now have very little money in the bank relative to how much they had before. I am not sure how closely the deposits/payments are scrutinized, but I'd sure expect my attorney to look at them closely enough to identify anything that might excite especial interest on the part of the trustee. If I had transactions that I was worried about, I'd tell my attorney about those in particular.
Since this is your first post, let me be the first to recommend you arrange several consultations with bankruptcy attorneys in your area. This should do a fair bit to reduce your fears. A good attorney can answer your questions and advise you as to the best course of action in your case. There's a lot to read on this forum, and you are likely to derive a lot of learning and increased peace of mind by that means as well. What you learn here can help you know more about what you want to ask attorneys as you consult with them.Comment
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Just scared
Thanks to everyone for responding to my post. I worry a lot about what will happen next. I will be seeing my attorney Tues. and giving him a list of all creditors. I was wondering if anyone out there who has filed personally and with a small business was ever able to keep some equipment/tools once they file? All my husband knows is cabinet work. If we file on our business, he will probably have to go to another shop to work until he is able to get back on his feet again and possibly work for himself. But if the trustee takes everything to sell and pay off our debts, I don't know what he will do. We don't have but about $10,000 worth of tools. I don't know if that is a lot to a trustee or not. I was also wondering if anyone that has owned a business and filed on a few material customers, how did that turn out?
Please, any insight would greatly be appreciated.
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In VA there is a "tools of the trade" exemption up to $10K. Sorry I can't be of help on the customer question.Originally posted by toomuch123 View PostCase Closed > 2/08/2010Comment
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