Trustee Employing an Attorney?

[boomerkae]

I just received in the mail yesterday notice that my trustee has filed an application for authority to Employ a law firm?

I have been beside myself in fear all weekend. Every free moment I worry about what this means.

Anyone know what this means? My attny isn't the most responsive - after not getting a hold of him by phone, I shot him an email and asked to call me; he responded by asking if I could ask my questions by email. I've been composing my list, and this will be on there, but I'm not holding my breath for a fast response from him.

THanks....

Edited to add:
I am looking like an asset case; trustee wants more information on value of a piece of property my husband is inheriting but has not taken ownership of. Will has not been probated and there is still a lien on the property. Also, it looks like we did leave an asset (a camera) off the list of assets by accident. Is this what this is all about? So scared.......

[despritfreya]

Stop worrying. Trustees routinely file Applications to Employ, especially in asset and/or non-consumer cases. The Trustee has tons of files to deal with. He needs help hence the reason for an attorney. The attorney will take the burden off of the Trustee in the investigation as to the value of any assets. It's not a big deal.

Des.

[AngelinaCat]

That probably is it. We were an Asset case, and then because we had no guidance from our attorney, we made a couple of huge mistakes before we filed involving 'Preferential Insider" payments. The trustee employed an attorney to conduct an investigation into those.

I'm sorry. In re-reading this I realized I didn't complete the thought because I got interrupted with a phone call last night. So I have just finished it.

[boomerkae]

Thanks to you both. Just knowing that this isn't necessarily a big deal has given me back a few free moments in my head. I emailed my attny this morning, will wait to see what he has to say about it all.

Thanks again!

[frogger]

Happens all the time, and as the others have said.... don't worry about it. I really like it when the trustee is an attorney and they hire themselves.

[AngelinaCat]

I actually don't think they can, as it would be a conflict of interest. Our trustee is an attorney, and he hired another one to investigate our preferential insider payments.

[boomerkae]

That probably is it. We were an Asset case, and then because we had no guidance from our attorney, we made a couple of huge mistakes before we filed involving 'Preferential Insider" payments. The trustee employed an attorney to conduct an investigation into those.

I'm sorry. In re-reading this I realized I didn't complete the thought because I got interrupted with a phone call last night. So I have just finished it.

How did that go for you - and thanks for updating!

Happens all the time, and as the others have said.... don't worry about it. I really like it when the trustee is an attorney and they hire themselves.

For real? That's insane!


My attny answered my email with "The Trustee almost always hires counsel when there are assets. He will also have the court send a Notice to all creditors that assets have been discovered and that they should file a proof of claim." What is killing me is the assets as in the list are about $500. The property - we have yet to determine the current value.

I started to calm down, but his vague answers have me all worked up again.

[frogger]

For real? That's insane!

For real. It happens every day in my district.

[boomerkae]

For real. It happens every day in my district.

How long did it take for you to get through your asset case? How did you settle your assets? If you don't mind my asking....

[frogger]

How long did it take for you to get through your asset case? How did you settle your assets? If you don't mind my asking....

Discharged, but still not closed. It looks like we should close within the next few months. And to answer your question - probably will be around 2 years. As to the assets, I bought them back at a very fair price.

[boomerkae]

Discharged, but still not closed. It looks like we should close within the next few months. And to answer your question - probably will be around 2 years. As to the assets, I bought them back at a very fair price.

Wow. Just wow. After i posted I read deeper into the sticky on closing an asset case. I am just amazed.

For the buyback - was that payments or did you have to find a lump sum on the money tree somewhere?

[frogger]

For the buyback - was that payments or did you have to find a lump sum on the money tree somewhere?

Payment plan with no interest.

[AngelinaCatHub]

We were submitted to a 2004 investigation. We became an asset case, that sticks 30 more days on the wait. This then announces the fact that they discovered further assets to distribute. As Mrs. Said, the lawyer was satisfied that we screwed up sold a piece of real estate, and was going to attempt to recover the funds from our children. That was how ignorant we were with our lawyer being constantly mentally absent. We purchased the debt back so it took that much longer to buy our assets back as well as pay back for the preferential payments. They/he worked with us. 10.5K. Would have all not have happened if we found the place prior to doing ignorant things. 'Hub