Personalized and affordable help for people under financial stress.

Selling or Disposing Property

Basically, everything you own or have a legal or equitable right to when you filed your bankruptcy case is considered property of the bankruptcy estate, which is subject to Trustee and court supervision.  If you are entitled to receive any life insurance proceeds or an inheritance within six months of your case being filed, that is also property of the bankruptcy estate.

If you dispose of property of the bankruptcy estate that the Trustee has a right to receive, your discharge may be revoked, and the Trustee may sue you for the value of the property you sold or disposed of, and you may be criminally charged.  To be safe, just call your attorney if you are looking to sell or dispose any property while your bankruptcy case is open. 

Do not sell or dispose of any property, including money that was in an account while the bankruptcy case is still open.  If you are unsure, call your attorney!