Evidentiary hearing for failure to list P/I case in bankruptcy

Asked over 1 year ago - New York, NY

Trustee is contesting my participation in exemptions due to failure to list P/I case as asset

Attorney answers (5)

  1. Michael Hal Schwartz

    Pro

    Contributor Level 15

    10

    Lawyers agree

    Answered . I guess you are asking if the trustee can do what he or she is doing & the answer of course will be decided by the judge.

    The issue is why you did not list the personal injury case in your bankruptcy petition?

    If it was an honest mistake, such as you had no intention of starting a law suit (assuming none had been started when you filed bankruptcy OR you thought the question in the Statement of Financial Affairs regarding law suits did not mean personal injury suits, whether because the case was not put into suit or you thought it meant collection law suits against you, you should be ok.

  2. Diane L Gruber

    Pro

    Contributor Level 18

    8

    Lawyers agree

    Answered . This is serious. Be sure to discuss it with your bankruptcy attorney. Yes, a trustee can dis-allow any applicable exemption due to your omitting this asset from your petition. Good luck.

    Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662.... more
  3. Theodore Lyons Araujo

    Pro

    Contributor Level 20

    5

    Lawyers agree

    Answered . Amend the petition and list the PI case. If there was bad faith the Trustee would still have an objection. If you do not have a lawyer, get one.

    Disclaimer: This answer does not constitute legal advice. I am admitted in the States of New York, New Jersey and... more
  4. Scott Benjamin Riddle

    Pro

    Contributor Level 20

    5

    Lawyers agree

    Answered . You could lose your discharge over it.

  5. Richard Edmund Hawkins

    Pro

    Contributor Level 16

    5

    Lawyers agree

    Answered . As has been pointed out, the big question is *why* you didn't list it.

    Once the trustee relies upon the lack of exemption, it is generally too late to amend your exemptions.

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