Hiding Assets

[roymkeane]

What is the name of your state? New York

A friend filed Chapter 7 bankruptcy recently. She told me that she filled out all the paperwork and submitted it to her lawyer. She gifted a sum of money to a relative nine months ago and did not disclose this transaction in her court petition . Do trustees check bank statements etc as a matter of course or only when they are suspicious ?

 

[I AM ALWAYS LIABLE]

What is the name of your state? New York

A friend filed Chapter 7 bankruptcy recently. She told me that she filled out all the paperwork and submitted it to her lawyer. She gifted a sum of money to a relative nine months ago and did not disclose this transaction in her court petition . Do trustees check bank statements etc as a matter of course or only when they are suspicious ?

My response:

Well, of course the Trustee is going to look at your bank statements - - for the past 3 years. That was a real dumb move, because you just caused your friend to be sued by the Trustee for the return of the money.

Real dumb.

IAAL

 

[dcw888]

IAAL, where do you get off mis reading her question so badly? She never said her friend gifted the money to her. Nor did she say she was the one going to file, so why in the world would her bank statements get looked at, much less for the past 3 years? And just how do you figure she caused her friend (unless she notifies the trustee) to be sued by the trustee.