Uncovering Hidden or Unusual Assets

In a Chapter 7 bankruptcy case, there may be assets which are hidden or not in plain sight. These assets may be found through deeper investigation – whether through Internet searches, bank records or even personal observation – potentially resulting in valuable returns for the estate. By delving deeper into the case, the Trustee may find a..

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Chapter 7 Handbook: Do’s and Don’ts

The Handbook for Chapter 7 Trustees is a valuable resource for the Trustee to reference as they execute their fiduciary duties under the United States Trustee’s supervision. While it is a good practice to reference the Handbook throughout bankruptcy case administration, below are some highlights as well as do’s and don’ts for the Trustee practice…

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Exemptions: How to Correctly Calculate

In a Chapter 7 bankruptcy case, debtors may file exemptions on certain assets based on state or federal law. Exemptions allow debtors to keep protected assets, so it is important for Trustees to pay close attention to exemptions when reviewing a case. Exemptions are listed on Schedule C of the debtor’s petition. When reviewing Schedule..

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