Hello and thank you for the opportunity to assist you. My name is XXXXX XXXXX I will do my very best to answer your legal questions.
Q: how do they treat an LLC that is filed as a schedule c on my tax return
A: The LLC is considered personal property, and must be listed on Schedule B of your bankruptcy schedules. Generally, you would list it's value as being equal to it's value on a balance sheet. In fact, if the balance sheet indicates that it has no value, then you would put $0.00 on Schedule B.
Q: how far back do they review bank statements
A: In most cases, the bankruptcy trustee
will only review bank statements for the month prior to filing the bankruptcy. But if the trustee finds anything suspicious for whatever reason, he can require statements going back several years. Last year I had a client who was required to provide bank statements dating back to 2009. The botXXXXX XXXXXne is that the trustee, as part of an investigation, has discretion to require bank statements for many years, but as a general rule trustees only care about what happened very recently (i.e., within last month).
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