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“ Craig D. Robins, Esq., has been a practicing Long Island bankruptcy attorney for over twenty-four years ”
Written by Craig D. RobinsDebtors in Chapter 7 and Chapter 13 Bankruptcy cases are required to provide certain documents to the trustee prior to the Meeting of Creditors.
Bankruptcy attorneys generally make sure that all of the required documents are collected in advance and furnished to the trustee in a timely fashion.
These items include, as specified in Bankruptcy Rule 4002, sixty days of pay stubs and the most recent tax return. In addition, debtors who own real estate that they intend on keeping must provide the trustee with some kind of valuation or appraisal.
Do Trustees Require Bank Statements?
Bankruptcy Rule 4002 requires the debtor to bring to the Meeting of Creditors all bank and other financial account statements showing the balances in the accounts on the date the bankruptcy petition was filed.
However, not every trustee requires debtors to strictly adhere to this rule. For those cases in the Central Islip Bankruptcy Court, which is in the Eastern District of New York, there is only one Chapter 7 trustee who requires debtors to bring this information to the Meeting of Creditors — Kenneth I. Kirschenbaum.
Mr. Kirschenbaum is actually one of only two Chapter 7 trustees in our district who requires debtors to provide a laundry list of documents prior to going to court. He is the only one who requires debtors to bring bank statements and he sometimes threatens to refuse to examine those debtors who do not.
Even if your trustee is someone else, it is nevertheless a wise idea to bring copies of these statements, especially if there are large amounts in the account, or if you are claiming your homestead exemption, or if you are entitled to a tax refund. In many cases involving these situations, the trustee will ask you to provide the account statements. Turning them over at the meeting of creditors will save you some time and bother.
Incidentally, in many Chapter 13 cases, the trustee will require the debtor to provide copies of the past 12 months of bank account statements.
What Happens If You Don’t Have the Account Statements?
Bankruptcy Rule 4002 provides a solution for those debtors who do not have these documents in their possession. Simply providing a verified statement to that effect will suffice.
So as long as you do not have the documents in your possession, and you state so in writing, you do not have to provide them at the Meeting of Creditors. Be mindful that the trustee may likely require you to obtain and provide copies later on.
For More Information About the Meeting of Creditors
I wrote a very comprehensive post about almost everything you should know about the Meeting of Creditors. Click here to see Going to Your Bankruptcy Court Hearing — The Meeting of Creditors.
