Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
I am presently in chapter 13 bankruptcy and will be receiving a life insurance payment as a beneficiary. I will be receiving a discharge (hopefully) when my last plan payment is over in 5 months. From what I have told so far, I need to surrender the full proceeds of the insurance benefit to the trustee. My lawyer has passed away and I do not presently have council. Is there a simplified way to notify the trustee of the circumstances and send him the money without retaining and spending unnecessary money for an attorney? Are there forms I can download etc and what documentation is required? Response 1: You simply need to call the Trustee's office and let him/her know of your situation. The Trustee would instruct you on the next step. Also is there a proper way to inform the insurance agency to my situation? Thanks Response 2: Contact the insurer by phone. Writing would delay and complicate matters. With a phone call, you can readily answer the questions posed by the insurer right on the spot.
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