Cash!!!!

[araiza11]

I read in some of your threads that some BK filers have been procecuted for fraud. Especially some for hiding cash. How do they know you have hidden cash. Like buried somewhere or under the mattress. Does the Trustee issue a search warrant to search your home or what???

[vic6string]

They won't send the dogs sniffing....

Most of the prosecutions are for large amounts of money, and honestly, I don't blame them at all because that is fraud. But if you are talking a couple hundred bucks in the coffee can in the kitchen, I don't think you have much to worry about. Yes, technically, the $30 you have in your wallet should be listed, but the FBI won't come knocking on your door for it. Now, if you had 25 grand in the bank in January and you are now claiming to have 25 bucks and you don't have a valid excuse for the dissapearance of $24,975, you had better get a good criminal defense attorney to go with your BK lawyer. You should be as honest as possible, if nothing else, just to keep your karma score higher than your credit score.

[robivi3]

A Trustee is not a Judge. A search warrant has to be issued by a Judge and is for your protection. In the "Olden Days" in the Name of the King was the only warrant, we're taking your home, ransacking your barn and taking what we need. In America (thank God for our standards) a Judge and ONLY a Judge can issue a search warrant and it is specific.

The Trustee has other means of determining if you are hiding cash. He goes over your bank statements. If he feels something is missing he can squeeze you for cash. They don't waste time and resource looking for trite amounts of money.

Vic6 is right, however criminal prosecution is rare and generally involves 100,000.00 or more. It is VERY expensive to prosecute. Prosecutors get promotions/bonuses based on convictions. Federal prosecutors want to make a name also, and want promotions. If you hide ten grand, they likely will not waste time to prosecute. If the Trustee suspects you he will likely try to squeeze cash from you.

If you are hiding cash, I counsel against it wholeheartedly. Creditors have a right to be paid. While everyone here knows i despise Trustees I have to say that they are an essential part of the BK system. It comes down to sleeping at night and compounding a messed up situation. BK is and should remain somewhat shameful. Do not volunteer anything to the Trustee but do not hide anything he asks you for and be honest. I was honest, it resulted in more hearings and more money but i did not lie.