Florida Bankruptcy: Why do I need to Provide my Bank Statements if I filed for Bankruptcy?

When you file for bankruptcy you automatically get appointed a trustee in your case.  You also automatically have a court date scheduled for a meeting of the creditors (341 meeting).  At the meeting of the creditors your appointed trustee will be asking you certain questions about your bankruptcy petition in order to determine whether or not you have committed fraud or have attempted to hide assets prior to your bankruptcy filing.   Prior to your meeting your attorney will have to send the trustees office certain documents (including bank statements, tax returns, inventory lists, investment statements, car titles, etc.) for the trustee to review prior to your hearing.

So what is the purpose of the trustee asking you for your bank statements?  The trustee will look at your bank statements to determine whether or not you have depleted your assets prior to your bankruptcy filing.  Did you withdraw large sums of money over the last year?  Did you transfer monies to your friends or relatives account?  Did you transfer lots of money into your 401k or your IRA?  Did you intentionally state your income as X when really your income was Y based on your bank statements.  Things like these put your bankruptcy in serious jeopardy and will likely lead to adversary proceedings (which are lawsuits within a bankruptcy case).

If you are thinking of filing for bankruptcy and would like to speak with a bankruptcy lawyer then please contact Shmucher Law, PL at 954.309.5559 or 305.741.5553. We offer free consultations in Boca Raton, Fort Lauderdale, Miami, Plantation, and Sunrise Florida.

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