A common question I get this time of year is whether the trustee will take the debtor’s tax refund if he files for bankruptcy. The answer depends upon many factors. The Trustee has a duty to administer non exempt assets if those assets are worthy of administration. For a tax refund to be worthy of administration the [...]
trustee
Every person who files a bankruptcy is required to attend a Meeting of Creditors. The meeting, also called a Section 341(a) meeting, is held by a Trustee. The Trustee is an individual, usually an attorney or a certfied public account, who is responsible for reviewing the debtor’s bankruptcy to see if there are any assets [...]
Filing bankruptcy cases means–very soon after the case has been filed–dealing with bankruptcy trustees. I’ve practiced bankruptcy law for fifteen years now, and one thing I’ve learned about bankruptcy trustees is that they are all different. No two ask for exactly the same documents. And no two want things done exactly the same way. They [...]
The bankruptcy means test gets meaner on November 1, 2010, when falling income guidelines go into effect. Consumers thinking of filing bankruptcy who may be close to the median income line should compare the BEFORE and AFTER figures. Filing bankruptcy by Halloween may be a good idea for some consumer debtors. It is no surprise [...]
How much will it cost me should not be the first question asked when a debtor calls a bankruptcy attorney. Costs can vary by state and by the difficulty of a bankruptcy case. Attorney fees are a necessary expense in bankruptcy, along with the filing fee, credit counseling class.
The bankruptcy trustee can sell assets you no longer own under his avoiding powers for the benefit of creditors. What, you say? If it isn’t mine, what rights do my creditors have in those assets? It all depends on how you parted with property as to whether bankruptcy law allows the trustee to recover the [...]
