Posts Tagged ‘bankruptcy trustee’

Updated exemptions to attorney for submission

Friday, January 30th, 2009

Last night and today I went over the overage worksheet supplied by the trustee and the appraisal we had previously received. We went over all the personal property from the appraisal, as well as the overage worksheet. I created a new spreadsheet for my lawyer with a general sheet of exemptions that matched the trustees values, and a second one with all the persoanl property.

He combined them into one for his use to use on the new schedule he has to file, and e-mailed it over. We only had to make a minor correction. He will now use this to fill out the updated schedule. Oh YEA! I forgot to mention, the trustee had mentioned she is not interested in the business assets, as they are not part of the persoanl property of the bankruptcy. EXCEPT, there is a $4200 deposit she had included on the worksheet, that was actually a business asset/expense. So hopefully she will drop that item and all will go smoothly.

If she claims we need to include that, I’ll be screwed! In that case, we will surrender virtually ALL our persoanal property, except for clothes and a couple household items. Lets hope it goes our way. I can’t imaging she will dispute a fourth time. But we’ll keep the blog updated to the progress.

Trustee requested bank statements again

Saturday, January 24th, 2009

Last Monday I got a forwarded letter from my lawyer that he had received from the trustee. She is apparently trying to determine the amount of overage we have over the allowed exemptions. From the letter I noticed she had a cash amount which came from our bank statements, as well as the stock, cars, etc. that she had a value on as well. She stated she need copies of bank statemnets for one of the accounts. She already has these! it was a brand new account started two days prior to our bankruptcy with all of $10 in the account. We had 10 days to respond.

I sent my lawyer a letter with some discrepancies from the property appraisal (Duplications of items), as well as information concerning the bank accounts. She had also mis-calculated the amout of cash by almost $900. This was due to a auto-debit that should not have gone through, and the bank paid it anyway making an overdraft of almost $900 which was included in the bankruptcy petition. The trustee had ADDED the negative amount into the available cash.

My lawyer must have liked my response, as he asked me to reword it somewhat so he could forward it along to the trustee. Well, I’m not sure if he did, or she responded back, or what. But last night I received a letter from him to the trustee that was very forward and blunt stating pretty much everything I had said in mine… but in a very formal tone. And with the copies of the statements I had already supplied.

So, we will see what happens from here.

Personal property appraisal trustee ordered is here

Monday, January 19th, 2009

Finally, after a month! I logged into my PACER account last night, and saw an order for the appraiser to be paid, which had a copy of the appraisal included. I was actually suprised. It was almost identical in dollars to what we had included in our chapter 7 bankruptcy petition.

If we didn’t have the problem with the private stock we didn’t know about, and if we wanted to challenge the trustee to the car values… we’d be right on target.

It looks like I will need to surrender about $1500 worth of stuff (Depending on how a hearing goes with the trustee about my wifes stock value). Based on what I’ve seen elsewhere on the web, we will pick and choose what personal property we want to surrender and what we will keep.

Hopefully the hearing the trustee requested will get scheduled soon, and we will be able to get on with this whole thing.

Trustee now wants 2008 tax refund

Tuesday, January 13th, 2009

Yep. Although there had been no previous mention of it, she contacted my lawyer and requested any refund we may receive this year from our 2008 taxes. Although I did suspect this may happen, but thought we may have heard of the request previously or at our 341 meeting.

Item’s to prepare our taxes hasn’t even arrived yet. Oh well.

Trustees THIRD objection to exemptions in Chapter 7 Case

Thursday, January 8th, 2009

Yep… Just as I expected our trustee objected to our third updated exemptions. My lawyer states he’s tired of messing with her, and will file a motion with the judge to get things moving. Unbelievable. She also referenced my portion of the exemptions, and referenced the appraisal that was done almost a month ago.

We will have to see what happens now.