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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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my husband And I claimed for bankruptcy. Our meeting is On

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my husband And I claimed for bankruptcy. Our meeting is On may 29. Chapt 7. We couldn't pay for our debts And I lost my Job due to illness while I was outside the country. after 4 months I still recovering. During my illness I had to..borrow about $20000 ftom my relatives. After we applied for bankruptcy, I submitted a reimbursement petition to my heath insurance. They told me it would take up to 60 days because it was foreing. Well, last week we received over $22k. We have to pay my relatives because they need the money. our lawyer said the court only needs april statement for all our bank accounts. Nothing else, And that our lawyers can protect our assets up to 22k. Can we open other bank account to Cash the checks And pay our relatives' debts? should we contact our lawyer And tell her we received the reimbursement already? How woulf that affect us?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 1 year ago.
Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

Was the fact that you were expecting the money from your insurance company listed on your Bankruptcy papers?

Customer: replied 1 year ago.
No, because we didn't know if our insurance would reimburse anything, or how much due that we applied after getting all paperworks for reimbursement ready And we had already gotten ghe appointment for meeting 341. Also, we didn't know the amounts because it was in foreing currency.
Expert:  cfortunato replied 1 year ago.

Thank you for your response.
Yes - you should inform your attorney that you received the money from the insurance company. Since the money was not listed on your Bankruptcy paperwork, he will have to submit some amended forms - which is easy to do.
Since your assets are protected up to $22,000, you should be able to keep the re-imbursement. This means you can do anything with it, including opening a new bank account to cash it, and to pay your relatives.

Customer: replied 1 year ago.
Great. But I deposit it already before letting my attorney know. I only deposited 19413k. Is there a problem for what we did? I could Call my lawyer to let her know. But I just want to make sure Of the laws. My insurance sent us 22770k And I only deposited 19413k.
Expert:  cfortunato replied 1 year ago.

It is perfectly okay that you already deposited the check before telling your attorney. (You cannot get into trouble because of this.)
Since your attorney said he can only protect $22K of your assets, you may have to give $770 to the Bankruptcy court. Your attorney will let you know.

Customer: replied 1 year ago.
Thank thank u. I will go ahead and let my attorney know. another question.; what would happen if after our discharge on mmay 29, we received more reimbursements? Not that we are aware right now.are you still there?
Expert:  cfortunato replied 1 year ago.

If these are re-imbursements for claims that existed before your Bankrutpcy was filed, they are supposed to be reported to the Bankruptcy court (through your attorney). However, any money you receive for claims (eg. accidents) that occurred after your Bankruptcy was filed do not get reported to anyone.

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and other Bankruptcy Law Specialists are ready to help you
Customer: replied 1 year ago.
Ok. So, just to be clear in my mind, the reimbursement Claim was submitted after bankrupcy Claim was done And scheduled. Does that mean I don't need to report any money received before or after my meeting 341?
Customer: replied 1 year ago.
Sorry to keep asking, it is just that I'm not so good understanding this type Of issues, And because they are very delicate I want to be clear.
Expert:  cfortunato replied 1 year ago.
Please do not apologize for asking questions. I really want to understand.
By "claim" is meant the thing that happened that the re-imbursement is for, not the submission of a claim. Since the illness that the re-imbursement is for occurred before your Bankruptcy was filed, that re-imbursement does have to be reported.
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and other Bankruptcy Law Specialists are ready to help you
Customer: replied 1 year ago.
Good morning, so I contacted my lawyer, she didn't answer at first so I spoke with the other lawyer And explain the situation with the money as well as I needed to pay my brother $8k yesterday. She told me to go ahead that it should be ok.
Hours later my lawyer called me And told me that it is now complicated because I opened a New account And I pay as a priority to my brother. She told me thatthere are to..options, One is not to mention or amend anything and wait to see if they find out, or to amend and explain everything and because I paid my brother they migh ask to return that money.
I'm confuse, would they take the $22k if I mention it? Should I amend after doing everything? My lawyer said that I should just answer according to what we submitted and that should be fine. Is there any way they could fineld out thru our social security #?
Expert:  cfortunato replied 1 year ago.

If there is an exemption for the $22K, then they cannot make your brother give back the money. (Exemption is the amount of assets you are allowed to keep.) It does not matter that you opened a new bank account.
However, it is true that if the trustee does not find out about the money, then nothing will happen.
No - the trustee cannot find out about the money by your Social Security number. The only way the trustee can find out about the money is if you or your attorney tells him about the money.

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience: Bankruptcy professor.
cfortunato and other Bankruptcy Law Specialists are ready to help you

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