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How would a bankruptcy trustee find out about civil suit winnings?
Wiki User
∙ 13y ago
Local newspaper reports of the case; any of several reporters online or in paper/magazine format; a creditor who learns of it; the opposing party in the litigation; the attorney for the opposing party; you or your attorney reporting the "winnings."
If the civil suit or the underlying claim did not exist at the time of filing, no problem. If it did exist and you failed to disclose the claim in Schedule B and the Statement of Financial Affairs, you are looking at perjury in addition to forfeiting the winnings.
If you did disclose it, the trustee caould have taken the case away from the attorney handling the case for you, or abandoned it. If the latter, you have no problem.
Wiki User
∙ 13y ago
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Can you put moving violation fines on your bankruptcy?
I really don't think so. They are civil fines and I do not think they would be subject to discharge by a Federal Bankruptcy Court. If you have a trustee , ask that person.
Why would your bankruptcy trustee object to your stopping your bankruptcy?
You might have had assets in excess of your statutory exemptions that the trustee is legally obligated to collect and pay your creditors.
Will the bankruptcy trustee take all of your tax return refund?
I think it depends on when the bankruptcy is discharged, but it would be discussed at your meeting with the creditors and the trustee. If it wasn't discussed, then the refund is yours.
When a person files bankruptcy in October and then wins money in a lottery are they required to report the winnings to the bankruptcy court?
You would only need to report the winning ticket if the bankruptcy was not discharged.
Can a trustee find out from the IRS about a recent 1300 gambling winning if you are going to file Chapter 7 in a month and can he or she demand this money even if you've already spent it?
The trustee will look at your entire financial situation based on the information that you provided in your bankruptcy filing and supplemental documentation, but I am unaware of any ability or authority foro the trustee to be able to get information from the IRS. You are LEGALLY REQUIRED to disclose the winnings when you file for bankruptcy. Failure to do so would be bankruptcy fraud and could result in the denial of your discharge if this information comes to the attention fo the court and/or the trustee. If you made preferential payments to creditors, the trusted might ask for a refund of those payments to be distributed to all of your creditors.
Why would a trustee in a bankruptcy ask for authority to employ an attorney?
The usual reason is the trustee has found evidence that indicates the bankruptcy filer has non-exempt assets that were not reported. This however, does not mean the trustee necessarily believes it was intentional; perhaps the filer did not realize he was owed funds that should have been reported. In rare cases it is because the trustee suspects dishonest activity relating to the bankruptcy. In extreme situations the trustee may refer the case to the U.S.Trustee Office for further action.
How does a bankruptcy trustee investigate a debtor?
It is rare that a bankruptcy trustee really investigates a debtor. There have to be a large amount of questionable assets or, like in a Chapter 11, types of assets that would send a trustee to your house. When they do, they look into bank accounts and physical assets such as furniture, houses, cars and even clothes.
Do you know if you go to bankruptcy court do you get discharged when you go there?
A person or persons would need to file for bankruptcy before having any contact with the court and/or bankruptcy trustee. A bankruptcy discharge is what is granted if the filing is deemed valid.
Bankruptcy 341 hearing?
341 is the section of the bankruptcy code that provides for a meeting of creditors. Though creditors is the name of the meeting, it is rare creditors show for the meeting. Really what this meeting is a meeting with the bankruptcy trustee assigned to your case. The trustee reviews your papers and would liquidate any property that is not exempt. Typically, most people don't have any non-exempt assets and the case is a no asset case. The trustee at the 341 meeting asks questions to see if the debtor has any assets he would be interested in, that the debtor is telling the truth and the papers are done correctly. The trustee, if satisfied, will file a report with the judge who then signs off on the debtor's bankruptcy discharge.
You surrendered your home in a chapter 7 bankruptcy It has been sitting empty for 2 plus years It is not even for sale Is it possible to repurchase your home?
YES. Most likely what happened is the bankruptcy trustee auctioned the residence to somebody who is holding it till they can get a better resale price on the market. Find the owner of record and contact them or their agent for real estate. If the bankruptcy trustee has not auctioned the residence yet, then the bankruptcy procedure might not be complete and they probably are waiting till some time in the near future when the residence can be auctioned for more than the bankruptcy exemption value (which the bankruptcy trustee should provide to you upon sale of that asset). A bankruptcy trustee should not have reservations about reselling an asset back to the bankrupt person, but it would be a cash sale for some amount (determined by the trustee) in excess of the exemption figure (set by state regulation). If your bankruptcy procedure has been completed officially, and the residence has not been auctioned by the court yet, then there may be some legal problem with the handling of your bankruptcy and you might inquire with the court about the disposition of the residence in that bankruptcy case (if the bankruptcy trustee was wrong to take the residence for auction, then that decision might be changed).
If you filed bankruptcy in Dec of 2004 can you get your refund that has already been taken for 2002?
No, the IRS will get to keep it. And, even if you could get it back, the bankruptcy trustee would probably take it to distribute to your creditors.
Can a debt collector still collect your debt if you file chapter 13?
No they cannot, as long as you included them in your bankruptcy. They would be in violation of Federal Law, and liable to suit and possible penalty from the bankruptcy court. The bankruptcy attorney, or the trustee should be notified about any collections on a bankruptcy account.
