Trustee Information Sheet

The Chapter 7 Trustee's Information Sheet must be completed and signed by a debtor and given to the chapter 7 trustee at the 341 meeting of creditors. The form should be completed with information as of the date of the filing of the bankruptcy petition, not the date of the 341 meeting. In addition to the bankruptcy official forms and the verbal answers by a debtor at the 341 meeting, the trustee uses the trustee information sheet to determine non-exempt property available for payment to creditors.

Information must be accurate as of the petition date, including cash on hand, undeposited checks, bank balances, unpaid earnings, vacation pay, tax refunds, season tickets or rights, creditor payments, property transfers, etc. Any amount for a bank and other financial account should be based on a statement showing the balance as of the petition date.

I have a fillable PDF version of the Trustee’s Information Sheet that I will complete based upon information in the official forms filed with the court or documentation provided by you after filing (for example, pay stubs and bank statements received post petition). I will email to you highlighted and non-highlighted versions of the Trustee’s Information Sheet. Please review the entire Trustee’s Information Sheet for accuracy. Certain items for which I do not have information may be highlighted in yellow on the highlighted version.

On the non-highlighted version of the Trustee's Information Sheet, fill in any changes directly into the relevant dialogue box on the fillable PDF form. If you are unable to make changes to the fillable form, send me an email with any changes or other information needed. I will revise the form and send you a final version for you to sign.

After the form has been completed, print it, sign it in blue ink, and return it to me with the signed Domestic Support Obligations form by whichever of the following is most convenient for you: (a) scan and email the signed form to me and get me the signed original at or before the 341 meeting, (b) send me the signed original by regular mail as soon as possible, or (c) drop off the signed original at my office as soon as possible.

I have an on-line Earnings Exemption Calculator that can be used to calculate the non-exempt earnings as of the filing of the petition that a trustee may take for payment to creditors.
The amount of unpaid wages as of the petition date should be calculated from actual pay stubs received post petition. A debtor can exempt or protect 75% of the after tax amount of unpaid earnings as of the petition date. The after-tax amount is calculated by deducting from gross income any mandatory payroll taxes, including federal withholding tax, FICA taxes (Social Security, Medicare, PERA, etc.), state income tax, and any occupational privilege or locality tax. Not included are voluntary contributions such as 401(k) or other retirement contributions or loan payments as well as insurance or flex savings deductions. The trustee may request turn over to the bankruptcy estate of 25% of the after tax amount of wages unpaid as of the petition date.

The trustee will want to review any pay stub showing earnings unpaid as of the date of filing. This may require one or two pay stubs received after the petition date, depending on the frequency and dates of the pay period and the interval between the end of the pay period and pay day.

Under the Bankruptcy Code, there is an exception to the date-of-filing determination of assets for any devise, bequest, inheritance, property settlement in a divorce case, proceeds from trust funds or proceeds from life insurance policies to which a debtor becomes entitled within 180 days (approximately 6 months) after filing the bankruptcy petition. A debtor must inform the trustee if the debtor acquires or becomes entitled to such assets.

As stated on the Trustee’s Information Sheet, a debtor must notify the trustee of any change in employment unil a discharge is received.

If you have questions or concerns about the Trustee Information Sheet, email or call your attorney.

Robin Hunt,
Jul 13, 2012, 3:36 PM