No, but after the hearing the trustee has the authority to take your non-protected assets. It is better if you AT LEAST invest in a consultation with a bankruptcy attorney BEFORE filing your petition.
Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662. Please be aware that each answer on this website is based upon the facts, or lack thereof, provided in the question. To be sure you get complete and comprehensive answers, based upon the totality of your situation, contact a local attorney who specializes in the area of law that involves your legal problem. Diane L. Gruber has been practicing law in Oregon for 26 years, specializing in family law, bankruptcy, estate planning and probate. Note: Diane L. Gruber does not represent you until a written fee agreement has been signed by you and Diane L. Gruber, and the fee listed in the agreement has been paid.Ask a similar question
You wrote, "In a chapter 7 bk. Will the trustee do anything prior to the meeting as far as collecting?"
A: In a few districts, the bankruptcy Trustee might freeze a bank account or take collection actions for an ongoing business.Ask a similar question
Shortly after you file your Chapter 7 proceeding the trustee will usually request information that they need in order to get prepared for the Meeting of Creditors and for the proper administration of the case. However, in almost all cases the trustee usually will NOT assert control over your assets so soon.
Get ready to answer any questions your trustee may have at the meeting of creditors. Good Luck!Ask a similar question