If I file for bankruptcy, will anyone come to my house to veryify the values I put on my application form?
I spoke to one trustee who they would not be calling anyone to come and take a look. So if the trustee is not going to would there be anyone else who would?
At January 19, 2008 |
5:34 pm
, Barton Goth GCO Bankruptcy Trustees Said...
The only way anyone would be sent to your house is if there is a concern over the estimated values you provide to the trustee.
This concern is typically not raised by the trustee but buy your creditors. If the creditors look at your purchase / transaction history and feel that your valuation doesn’t fit with the purchases you have made over the last few years or if they simply are under the impression that the valuation is not reasonable they may require the trustee obtain proof.
If this is required the trustee will likely have you engage the services of an auctioneer to apprais the items in question and then those values would be the ones relied upon.
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