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    Questions of Trustee Information Sheet

    I filed on 9/16. My 341 is Oct. 25th.

    When I got notification from my lawyer, the letter said to bring ss card, driver's license, proof of value of home, recent tax return, and bank statement showing balance on the date of Case filing. Got it all. He also enclosed a Trustee Information Sheet for my state's District. At the top, it says, All Questions to be Answered as of Date of Case Filing.

    Okay, here are my dilemmas:

    Q. 4--Vacation pay owed. Does that mean vacation time and what it would equal in pay? Husband has two weeks vacation left. What do I put?

    Q13 reads: Did Debtor(s) pay any unsecured creditor more than $600 within 90 days immediately preceding the Case filing?

    As stated in a previous thread, I did, but only because I was making monthly payments to creditors; some 200 per month, one at 343 per month. So yes, I did pay more than 600 within 90 days. Should I state this?

    Q16 reads: List all income received from sources other than employment.

    As some of you know, I did take out a loan from my life insurance policy of 4800 to pay my lawyer and catch up on bills. Should I write this down? Or is it not considered "income?" I just don't know.

    Finally, (and my worst fear one)--they want to know how much "cash on hand" I had on the day of filing. Well it happens that we left town that Friday for a visit to the in-laws, so I did have around 500-600 dollars on me. On the bank statement that I am to bring showing my balance as of 9/16, it shows a cash withdraw of 350 dollars on 9/14. Lawyer told to me have balance below a hundred dollars. So I just went and took the money out. Will I be questioned on it? And what do I say about how much cash I had? Is the 500-600 in question now up for grabs?

    Any input would be greatly appreciated. Thank you.

    #2
    You do need to give info on which creditors received $600+ in the past 3 months. Its not that you did anything wrong, but the trust can make that creditor pay the money to the BK court to be distributed evenly to unsecured creditors.

    Regarding the vacation pay-no clue!

    For the cash on hand, it would depend on what your state exemption list allows & whether or not you have any wild card exemption amount available.

    For the $4800 loan, you can document where the money went-and it didn't go anywhere questionable-so you should be fine.
    Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.

    Comment


      #3
      Staci, I am in Colorado, and I don't believe we have a wildcard exemption here.

      As for the 4800 loan, most all of the money went to lawyer and bills (I could not believe how FAST it went). Also went toward clothes, shoes, as it was the beginning of the school year. I did take around 300 and put it away for trip to in laws. Then I took the last 350 two days before filing bk.

      I hope this won't be a problem.

      Comment


        #4
        Fill out the forms honestly, and you will be okay....
        The vacation question #4 - list what your husbands net pay would be if he got his checks.
        Question #13 - yes make a notation of the amounts paid both these creditors
        Question #16 - yes list this also, let the trustee know it was used to pay legal fees.

        You will probably be okay, as you can account for everything and what it was used for.

        Just my thoughts,

        Minny

        "my suggestions are from experience only".
        Minny

        "It's amazing the paths that our feet sometimes follow in life".

        My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.

        Comment


          #5
          I just pulled up a list of exemptions for my state. No, there is no wildcard for us. However, there is one exemption that states: "Life insurance avails to $5000." Do you think that helps me?

          Comment

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