BK7 quick question

Who is in possession of the car? Are they going to take over the payments? If not,do they realize the vehicle will be repo'd?

I think the poster is worried about the fact that his bank statement shows $410 being dispersed every month. IE would anyone wonder where this money is going?

First, I don't even think the trustee looks at your bank statements.

In any case, on your schedule J (I think, or whatever schedule lists all your expenses), simply put $410 as a transportation expense. If it should come up at all, just be honest -- you drive a car that's in someone else's name, and you have to pay $410 per month to drive it.

Or if I've misinterpreted, then please clarify.

Thanks Soaplady and DebtCruncher.
Yes Soaplady, I am in possession of the car and paying.
I think DebtCrucher answered my question.
It sounds easy and I hope it doesn't get complicated.

Peace.

That's a really good question, one I have been curious about--does the Trustee look at my bank statements? My bank account was closed due to being overdrawn and will be part of my bankruptcy, but I have a prepaid debit card--not with statements but with a recording on transactions online--and was curious as to how close the Trustee looks at bank statements, if at all. Does anybody have any info on this?

I've never filed a BK myself, so I honestly don't know how closely they look.

The trustee's office reviews every bankruptcy case filed, and I would imagine their office is setup like an assembly line to receive the paperwork and process each filing as quickly as possible so they can get onto the next one. Since most individual BK's are little or no-asset cases, I really don't think put a lot of time or personal involvement into reviewing each case.

The only time I think they would go through your bank statement or financial records is 1) when they see a "red flag" (ie if the number are questionable or don't seem to add up), or 2) when the estate has lots of assets that could be liquidated. Otherwise I don't think they even bother.