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  1. #1

    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?

  2. #2
    Join Date
    Apr 2007
    Location
    Southeastern Michigan
    Posts
    1,226

    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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