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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 17906
Experience:  B.A.; M.B.A.; J.D.
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I am presently in chapter 13 bankruptcy and will be receiving a life i

Customer Question

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? Also is there a proper way to inform the insurance agency to my situation? Thanks
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 3 years ago.
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions.


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.