Can a trustee reopen BK after discharge?

[Gracie]

While claiming bankruptcy I was also involved in a lawsuit against my former employer. We decided (My Employment Attorney ) & I that it would be best to see if my former employer would settle vs. going to trial. The BK trustee negotiated w/my former employer & was able to negotiate a settlement which we split three ways. The BK trustee, me & my employment attorney (now mind you I have no $$ so I was glad to get a little)
THe BK was discharged July 2008. So today (11/26/08) I opened my mail & the trustee has approved to receive $3,000.00. The money I received was because I was wrongfully discriminated against. I WAS BASICALLY SCREWED.

Can the trustee do this? If he wanted the $$ he should've negotiated during the orig. settlement. My Bk attorney wasn't that great either he wouldn't return phone calls etc (the Bk trustee was complaining about him to my employment attorney)


Thank you in advance for any info you may have.

[TEW]

sad to say but they can go after money like that for 180 days after discharge

[jessegirl]

Can they go after a bonus within 180 days after discharge that you would get from your company?

[laurannm]

Can they go after a bonus within 180 days after discharge that you would get from your company?

A bonus from your employer, no. About the only things they can go after 180 days after discharge (or it might be 180 days after filing) is a large inheritance or money received from a lawsuit.

[TEW]

A bonus from your employer, no. About the only things they can go after 180 days after discharge (or it might be 180 days after filing) is a large inheritance or money received from a lawsuit.

http://www.bkforum.com/showthread.php?t=22259

here is a good thread about this subject

[debtmonster]

What makes BK lawyers "NOT" return your phone calls after you've paid them good money? Why do they stick it to people like this? It's almost like they have been bad debtors themselves!

This is why I did not file BK for the past 20 years even though I should have many times. I just rode it out and moved from city to city. Filing BK is such a hassle and after reading the posts on here, it confirms it. It almost seems easier to just walk away. Change your phone #, move and don't forward your mail or tell anyone.

One of the reasons why I want to file BK now is because I don't want a 1099 from our mortgage company once they sell the house.

What happens if I buy an $80,000 car for cash 181 days after my discharge? Are the gonna come after me? How on earth does the Trustee keep tabs on your assets or money you run into in the first place? Do you have to furnish bank statements to him for 6 months after the discharge?

[Flamingo]

What makes BK lawyers "NOT" return your phone calls after you've paid them good money? Why do they stick it to people like this? It's almost like they have been bad debtors themselves!

This is why I did not file BK for the past 20 years even though I should have many times. I just rode it out and moved from city to city. Filing BK is such a hassle and after reading the posts on here, it confirms it. It almost seems easier to just walk away. Change your phone #, move and don't forward your mail or tell anyone.

One of the reasons why I want to file BK now is because I don't want a 1099 from our mortgage company once they sell the house.

What happens if I buy an $80,000 car for cash 181 days after my discharge? Are the gonna come after me? How on earth does the Trustee keep tabs on your assets or money you run into in the first place? Do you have to furnish bank statements to him for 6 months after the discharge?

Debtmonster - the majority of the folks who have posted on this forum have absolutely no problems with their attorneys. Then there are some that do and a portion of those posters think an attorney is available at a moment's notice to return every single phone call immediately. Attorneys are like any other professional in the business world - there are good and bad ones. I certainly know several doctors who I would not go to either. However, that is NO excuse for avoiding filing bankruptcy! I can't imagine thinking having a bad attorney would prevent you in 20 years from filing bankruptcy. That is your own personal decision because you want to avoid the reality of the entire situation and make excuses. Once you get beyond that in your life, you will be able to grasp all this, confront it fully and get it over with. You went from city to city, job to job, to avoid the creditors catching up with you. Your purpose was not to avoid a bad BK attorney.

If you are able to buy an $80,000 car and pay cash 181 days after filing bankruptcy, you should not be filing bankruptcy in the first place.

[TEW]

Debtmonster - the majority of the folks who have posted on this forum have absolutely no problems with their attorneys. Then there are some that do and a portion of those posters think an attorney is available at a moment's notice to return every single phone call immediately. Attorneys are like any other professional in the business world - there are good and bad ones. I certainly know several doctors who I would not go to either. However, that is NO excuse for avoiding filing bankruptcy! I can't imagine thinking having a bad attorney would prevent you in 20 years from filing bankruptcy. That is your own personal decision because you want to avoid the reality of the entire situation and make excuses. Once you get beyond that in your life, you will be able to grasp all this, confront it fully and get it over with. You went from city to city, job to job, to avoid the creditors catching up with you. Your purpose was not to avoid a bad BK attorney.

If you are able to buy an $80,000 car and pay cash 181 days after filing bankruptcy, you should not be filing bankruptcy in the first place.

Very well said Flamingo
I did not have any trouble contacting my attorney sometimes it was a day or so before she got back to me but she always did.

[banca rotta]

What makes BK lawyers "NOT" return your phone calls after you've paid them good money? Why do they stick it to people like this? It's almost like they have been bad debtors themselves!

This is why I did not file BK for the past 20 years even though I should have many times. I just rode it out and moved from city to city. Filing BK is such a hassle and after reading the posts on here, it confirms it. It almost seems easier to just walk away. Change your phone #, move and don't forward your mail or tell anyone.

One of the reasons why I want to file BK now is because I don't want a 1099 from our mortgage company once they sell the house.

What happens if I buy an $80,000 car for cash 181 days after my discharge? Are the gonna come after me? How on earth does the Trustee keep tabs on your assets or money you run into in the first place? Do you have to furnish bank statements to him for 6 months after the discharge?

A hassle it is but moving from City to City seems to be even more of a hassle not to mention looking over your shoulder wondering if you are going to be served with a lawsuit.

The 80k buy a car question is pretty silly. For starters any discharged bankrupt buying a car like this unless they got a 100m lottery winning is a fool. You get a chance to clean up your financial mess but in exchange you need to play by the rules for a period of time.

Bankruptcy certainly sucks but it beats the witness protection program you went through for 20 years.

[ready2puke]

I have 20,000 shares of a private placement company that I bought years and years ago for .10 a share. Now this may or may not pay off. It could be 6 months or it could be another couple years. Just what if it paid off and the co. paid me about 5.00 a share at some point. There is a chance that this could be worthless also, but I dont think it will otherwise I wouldnt of bought it. What happens to my money when this "hits"?

[keepmine]

First of all, you need to list the shares as an asset. If the present value of the stock can be exempted, the trustee will abandon any interest and what happens in the future is all yours.
If it can't be exempted, the trustee will take control of the stock and any windfall will go to your creditors.

[ready2puke]

Thanks I understand the exemption part. Not sure what they are worth now tho..no one can buy them or sell them.. Its not really stock, but they are considered shares. Hard to explain. The co. isnt listed and its not public. I just got lucky knowing someone that knows someone. its actually worthless as it is but I guess I would still have to list it as the price I paid for them..

[debtmonster]

If you are able to buy an $80,000 car and pay cash 181 days after filing bankruptcy, you should not be filing bankruptcy in the first place.

What if you ran into the money after filing? That's my question. I don't have it right now. But if I ran into the money and did such a thing, what would happen?

[banca rotta]

What if you ran into the money after filing? That's my question. I don't have it right now. But if I ran into the money and did such a thing, what would happen?

If the money was a lottery winning or inheritance then yes the trustee will get it. If you work for a Wall Street firm and got a big bonus from the TARP money then you can pretty much keep it.

This is one of those "What if" questions you should only worry about if it happens. Are you hiding something? Of all the questions that come up here I don't see too many people worrying about this. If it happens then you will need to deal with it then.

[debtmonster]

If the money was a lottery winning or inheritance then yes the trustee will get it. If you work for a Wall Street firm and got a big bonus from the TARP money then you can pretty much keep it.

This is one of those "What if" questions you should only worry about if it happens. Are you hiding something? Of all the questions that come up here I don't see too many people worrying about this. If it happens then you will need to deal with it then.

I am looking into an opportunity that takes money, but I won't have the money until after I have filed BK and have it discharged.

How long is the window of time before I can get any major assets in my name before anything can be take away? So is 180 days not long enough? Do I have to wait over a year before anything can go in my name after the discharge?