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Chapter 13 Bankruptcy Discussion of Chapter 13 consumer bankruptcy and repayment plans.

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Old 11-06-2009, 01:54 PM
stayfree1573 stayfree1573 is offline
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Question Do You Have to Check with Trustee Every Time You Take Out Money
I live in the state of new york. Do you have to get aproval from you Trustee every time you withdarw funds from stocks ,savings? I only have a little over 1000.00 invested and wanted to take out 300. do Trustee have a problem with this or do requests always have to be filed or is it when the desired amount is over a certain amount?
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Old 11-06-2009, 07:33 PM
M'sta Mikey M'sta Mikey is offline
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Default Re: Check with Trustee Every Time You Take Out Money
That depends on the court 'rules' regarding your bankruptcy. Some courts state that ANY funds withdraw from stock, savings, 401k, IRA, etc, be approved by the courts before they are distributed.

Check with your bankruptcy attorney before any such action. If you don't have an attorney, check with the Trustee's office. If you don't and are found in violation, your case could be dismissed thus leaving you at the mercy of your creditors with no recourse.
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