send me $1600 and pay his self $800??No one has filed a claim against my assets and the time for my debtors to file claim has ended,so what does the trustee do with the rest of my check???
2006-09-12 10:22:32 · 6 answers · asked by TrieDtoMoDeL 1 in Politics & Government ➔ Law & Ethics
He should give you back the $4,800.
2006-09-12 10:25:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends on the applicable federal laws, and the specific wording of the order of the bankruptcy court.
Generally, the trustee is required to hold onto the assets until all claims have been satisfied, or no new claims can be fined. Once, that has occurred, the trustee can return any unused portion to you. There are also legal limits on how much the trustee can give back to you, based upon the amount of the debt, any other creditors identified by the court, and under applicable laws.
Most trustees are also paid for their time, out of the trust assets. So, as long as the $800 conforms the the legal requirements (which is specific legal advice, limited to attorneys) then the payment for services as trustee is usually valid.
2006-09-12 17:27:23 · answer #2 · answered by coragryph 7 · 0⤊ 0⤋
I have filed for Chapter 7 myself. Although you may have a tax refund check that you can pay toward your debts. Just because you have debt that you cannot pay off in the foreseeable future...you are not obligated to give the trustee the check. What he would do is more than likely divide the $4800 amongst your debtors. You are allowed to have assets (even cash) when filing bankruptcy.
2006-09-12 17:27:47 · answer #3 · answered by willywonka1999 2 · 0⤊ 0⤋
You should have not turned over your check like that you should have waited till you got it and file later. A chapter 7 is suppose to clear you of everything and not make you pay anything back at all.
You need to get some answers on this one!
I filed a chapter and didn't pay a dime back to anyone and only pad $200.00 to file all of it and it worked.
2006-09-12 17:32:23 · answer #4 · answered by chrissy 3 · 0⤊ 0⤋
I make $42,000 gross every year and like to know why you are getting so much back, government credits, single mom thing? I see maybe $700 total every return, time for the "fair tax" already!
2006-09-12 17:29:58 · answer #5 · answered by Later Me 4 · 0⤊ 0⤋
It depends
2006-09-15 18:41:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋