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personal bankruptcy Archives

Bankruptcy attorneys oppose trustee information request

When people in California file for Chapter 7 bankruptcy, a trustee is assigned to oversee the case. Neither the Justice Department branch in charge of overseeing bankruptcies nor bankruptcy attorneys support the efforts of two trustees in Maryland to collect debtors' passwords for Amazon Prime, eBay and PayPal. The paperwork also says that the debtors will keep the same passwords for a minimum of 10 days and will not close the accounts.

Some savings and investments vulnerable during bankruptcy

When there's a bankruptcy filing in California, the court's trustee will scrutinize the financial assets of the debtor. Although federal and state laws build in some protections for certain retirement accounts, real estate and college savings for children, exceptions to the rules could provide creditors with access to investment funds.