Paypal

[crazycat]

.....How many months back would I expect a trustee to request records for Paypal transactions (from internet sales for our full time business-Texas LLC)... We use paypal for 95% of sales transactions and use same paypal account for mixed small personal & business expenses...Should we be concerned about any specific issues or flags that might be raised? thanks

[CATCHMEIFYOUCAN]

There is no telling how much the Trustee request or what the Trustee will request even if at all. But always be prepared. If you haven't file yet and are contemplating doing so I would download all the statements you possible have access to - as far back as you have access to. Once you file the creditor will most likely cut their service off to you (part being the automatic stay that gets put into place once you file) and it will be harder to get much needed statements if the Trustee were to ask for any at all, without a fee! I've never used paypal (ebay) to sell things, but I did have their credit card and bought many things. Once I included them as one of my debts I was instantly cut off. Others will soon chime in to lend their experience!

Best of Luck, Catchmeifyoucan

[poor@budgeting]

I would think that the trustee would want 6 months of Business accounts. Most likely ask for copy of income tax of the business from the previous 3 years. Probably need to fill out a 'business questionare' form as well.

[Cali]

I agree with them wanting 6 mths.