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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2597
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I reported a debtor for bankruptcy fraud. He concealed assets

Customer Question

I reported a debtor for bankruptcy fraud. He concealed assets such as jewelry, a trailor,
collectables, sports equipment (golf clubs). The assets were not of great monetary value but all together they could be worth about $7,000 to $10,000. Is It possible that the bankruptcy trustee doesn't think because they are not of great value she doesn't have time to pursue the case and ask the debtor what's going on. Isn it just "not worth it". It is a Chapter 13. I reported him about a month ago. Are there other reasons she can't be bothered with the case?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.
Hi JACustomer,
1) Is $7,000 - $10,000 the amount these assets could be sold for in a garage sale?
2) Does this debtor own a home that is worth more than his mortgage?
Customer: replied 4 years ago.
I woulld say in a garage sale at the very least the assets would be worth $5,000 in a garage sale. He was also undervaluing household goods he has 2 sets of living room abd diing room furniture. The house is worth less then his mortgage byy about $10,000.
Customer: replied 4 years ago.
Will I ever know whether the trustee looked into this case?

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