Trustees often have specific rules regarding the conduct of their 341 meeting of creditors. And while many procedural rules are common to all Trustees, there can be slight differences in their actions or requirements.
Bankruptcy Questions
Answers to Frequently Asked Bankruptcy Questions
Can I Keep My Car Out of My Bankruptcy Filing if I’m Not Behind on Payments?
Many people hope that they need not include their car in bankruptcy, especially if they are not behind in their payments. But is a person still required to list their car on the bankruptcy filing regardless?
Under bankruptcy law, all assets, debts and obligations are to be listed on the petition and schedules.
Is the 8-Years-Between-Bankruptcies Rule Based on the Filing Date or the Discharge Date?
Before filing for a second Chapter 7 bankruptcy case, a debtor must wait eight (8) years after filing the first case in which a discharge was granted.
But in some cases there can be a significant amount of time that passes between the original filing and the date the Bankruptcy is officially discharged by the Trustee. So which date is used as the starting date for the implementation of the 8-year rule, should a person needs to file a second bankruptcy proceeding?
How Do I List Social Security Income in Bankruptcy?
No special form is required to state income for payments received from Social Security. Social security payments are to be reported on both Schedule I as well as on the Means Test (Form 22), as any other income would. Get complete information on Standard Legal’s Bankruptcy legal forms software.
Must I Submit Bank Statements with My Chapter 7 Bankruptcy Filing?
The Trustee assigned to preside over the debtor\’s 341 meeting of creditors may request that the debtor provide bank statements. So bringing copies of bank statements (from the date that the case was filed back) to the 341 meeting of creditor may be a good idea. But the bankruptcy code does not require that bank … Read more
Which Chapter 7 Schedule Should Be Used to List Delinquent Property Taxes?
The schedule used for delinquent real estate property taxes due to a city or county depends upon the status of the property.
In the Creditor Matrix, Do I List the Debtor or its Collection Agent?
Standard Legal suggest that it is best to provide “more information” vs. “not enough information” on the Chapter 7 Bankruptcy schedules.
How Do I List Two Mortgages on One Property within a Bankruptcy Filing?
Within Form B8 of the Bankruptcy filing, in the ‘describe property securing debt’ field, list one creditor under property #1 and the second creditor under property #2.
Will a Trustee Always Liquidate Property if I File Bankruptcy?
Any real property owned by a debtor is subject to liquidation by the Trustee in a Chapter 7 Bankruptcy case. But the Trustee will liquidate the property (i.e. sell it and use the proceeds to pay creditors) only if there is equity in the property that can be turned to cash for the creditors.
How Do I Cancel a Bankruptcy Filing?
Assuming that the Bankruptcy case has not yet been completed and discharged, a person may file a “motion to dismiss.” There is no official form for this motion; rather, simply submit a statement to the District Bankruptcy Court indicating that you wish to dismiss your case, along with a brief statement as to the reasons … Read more