March 20, 2010
What if a person put a value on their assets on the bankruptcy forms and the property is in no way worth that?
Cheryl A asked:
I know someone who just declared Chapter 13. They say property and business is Worth one figure but there is no way it is worth that now. Does the trustee get appraisals.
I know someone who just declared Chapter 13. They say property and business is Worth one figure but there is no way it is worth that now. Does the trustee get appraisals.
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Comments on What if a person put a value on their assets on the bankruptcy forms and the property is in no way worth that?
The trustee can if they think it's wrong.
Not all plans are based on asset values.
It's the highest of either Means test or asset value.