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Insurance check after 341..What should I do?

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    #1

    Insurance check after 341..What should I do?

    I recieved an insurance check due to me not paying my life ins. premium,they sent me the cash value check for $1500 I stated its worth at only $300 when I filled out my petition,(was guessing) I told my lawyer 2 days before the 341 and he didnt say anything,I forgot to mention it and so did he at the meeting,then I recieved the check 3 days later,I went to lawyers office and his paralegal said to just keep it if he didnt bring it up at the meeting.Please need some advice.
    I prayed for a new bicycle but god didnt respond,so I stole one and asked for his forgiveness
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    #2
    Well, so you're estimate was off...(shrug)

    Since the trustee didn't make and mention on it or of it. It's yours...

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      #3
      If you are facing family issues I personally would cash it at a check cashing place and use it for necessities. I really would want to hear from the Attorney though. I don't like fooling with the Trustee. The other issue is that it is in your petition. He may ask about it if he starts snooping for assets. He got real snoopy with me over 300.00 in merchandise left over from the Toy business we had. I had legitimate proof of sale of all the rest and that the money had been sent to Creditors (Amex Blue). He eventually let me keep it.

      A 341 is not the crucial meeting, it depends on whether he will consider you an asset case. You may get letters stating that you are a no asset case from the Court, I did. That is standard. Then you get a letter abandoning the abandonments. I'm just saying be cautious, one omission to the Trustee and he finds out and then it is Hell to pay, best to err on the side of caution in this. I wouldn't rush to show it to him either. Just weigh the possibilities. VERY likely he will mention it eventually.
      "You once asked me for advice. You want some now? Never pass up a good thing." Lieutenant Jean Rasczak, Starship Troopers

      Join the Mobile Infantry and save the world. Service guarantees citizenship.

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        #4
        What state did you file in, you may have a wild card or other exemption that you can use to protect it.
        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.

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          #5
          I live in Indiana and there is no wild card here,I already cashed it and I used it to pay bills,I have had it bad since I filed as I am in the construction business and this has been a hard season so far,hope it picks up,I wish i could sell a truck I have that would get me thru to my discharge and help with bills,It is my allowed exemption but I dont think I can sell it. I have 2 other vehicles that I reaffirmed and the trustee seemed to have no issue with those. Thanks
          I prayed for a new bicycle but god didnt respond,so I stole one and asked for his forgiveness

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