Do Trustees ever go back and look at

[slappy]

Does a local or us trustee ever go back and look at what a person charged on the credit card statements? Especially bigger charges, or is that irrelevant and they basically just look at your current assets? Any help would be appreciated. Thanks

[Flamingo]

Yes, you can be asked to provide up to one year or more of credit card statements (and also bank statements) and have to explain charges over certain amounts. You may or may not be asked to provide those - be prepared to provide them.

[HHM]

They "can" request credit card statements, but usually don't. Generally, it will be the individual creditor that may take issue with large or luxury charges. As your intuition is telling you, the trustee doesn't much care how you got into debt (so long as "true" fraud was not involved). Also, for BK purposes, your available credit is not an asset. Now, bank statements are a different story. Trustees will review those and are looking for any out of the ordinary transactions.

[Flamingo]

Note - we had to list any and all charges/cash advances we made on all credit cards listed on our petition that were over a certain amount...I believe it was $500 - for a period of one year. A LOT depends on the Trustee on whether or not they ask you to provide the statements or information on charges in case the creditors come back with an objection as to those charges/cash advances. If your debt load is huge, you can bet the trustee will be inquiring.

[Stilltheone]

We never had our trustee ask for ours. We even went on a vacation over Christmas, about 3 months before we filed, and charged the entire trip.

They *can* ask for them, so be prepared.

Good luck!

[momof5]

This is something I was really worried about because last year we had some fairly large purchases.. family trip was one and with 7 of us it was quite a substantial charge. The trustee never asked.

I think as long as your large charges were not in a time frame that you might have been contemplating BK then it really doesnt matter. I mean who really knows 5 months in advance that they are going to lose their job or become ill? I think probably the majority of people think about filing after they hit rock bottom. So even if you do have large charges that are outside of that 3-6 month window can those creditors prove that you had intent to defraud and file for BK when you made the charge? Thats the question I asked myself about every charge that was made up to 1 year prior of filing. My answer was always no. It helped to relieve alot of my worries.

[slappy]

Thanks for all the replies. My last charges were in May of 2007 and I won't be filing till August or September. I did have some fairly big charges($5000--8000), two or three of them, however they will all be at least 15 months old by the time I file. My attorney is only asking me to give him 3 months worth of bills, pay stubs and bank statements, but I guess I'll prepare for a year's worth. My debt is large($120,000); my income is $43,000($70,000 with wife, but I"m filing single). Due to the large amount of debt, I'm expecting some extra questions and documentation. Again thanks.

[liz417]

Good Luck Slappy!

[hnhlvr]

Thanks for all the replies. My last charges were in May of 2007 and I won't be filing till August or September. I did have some fairly big charges($5000--8000), two or three of them, however they will all be at least 15 months old by the time I file. My attorney is only asking me to give him 3 months worth of bills, pay stubs and bank statements, but I guess I'll prepare for a year's worth. My debt is large($120,000); my income is $43,000($70,000 with wife, but I"m filing single). Due to the large amount of debt, I'm expecting some extra questions and documentation. Again thanks.

What were those huge charges for? I'm just being nosy (sorry!) Also, are you still making payments to those creditors are are you defaulting?

(DH and I did a few larger charges - but not that large - two mortgage pmts and I am wondering what will become of that since we haven't paid the credit card companies.)

[Help!]

Slappy, May of 2007 was so long ago that I highly doubt anyone is going to care what those purchases were unless the items that were purchased are worth liquidating. Good luck.

[catdance23]

I have a similar question. I've been charging things like gas and groceries on my CCs for the past couple of months while still making the monthly payments. I talked to my lawyer the beginning of July and he said to stop making the payments. I did and I didn't charge anything else. I just filed on 7/17. Are they going to deny my filing because I didn't stop using CCs 3 months before filing?

This is so stressful and I've only just started. I can't wait for this to be over.

[liz417]

I have a similar question. I've been charging things like gas and groceries on my CCs for the past couple of months while still making the monthly payments. I talked to my lawyer the beginning of July and he said to stop making the payments. I did and I didn't charge anything else. I just filed on 7/17. Are they going to deny my filing because I didn't stop using CCs 3 months before filing?

This is so stressful and I've only just started. I can't wait for this to be over.

You'll be fine if it was just daily expenses. Don't worry.

[catdance23]

Whew. I'll bring it up to my lawyer as well just in case. I have to talk to him about meeting before my 341 anyway.

Thanks so much!!!!

[Cali]

slappy - I wasn't asked for CC statements and my total debt is 162k.

[slappy]

slappy - I wasn't asked for CC statements and my total debt is 162k.

Good to know! Thanks for the response.