What is a post-petition account? ...

Learn the difference between a pre-petition and post-petition accounts their hands could keep away from the creditors of your future income. ... .In a Chapter 7 bankruptcy, the debtor's assets will be sold or liquidated by the bankruptcy trustee to pay creditors as possible, "Virginia Community Association Network. ... .The best way to avoid money paid to creditors, they are not allowed to know the facts of the filing of a bankruptcy petition. ... .breathing room breathe easier after the filing of a bankruptcy petition.According Guide to Finance 101, is the most common type of bankruptcy petition is filed a petition for Chapter 7 bankruptcy. ... .You file for a Chapter 7 room - if you file for bankruptcy an automatic suspension is set up, which means all creditors have made efforts to stop debt collect from you, the debtor, your property or assets of the estate.Trustee. .'. .RoleTrustee collects your assets.Once you filed your bankruptcy petition, the Court appoints a trustee to your case. ... .The trustee represents the interests of creditors and must dissolve and liquidate all assets not exempt under the laws of your state. ... .Basically, the trustee sells your property and use the proceeds to repay to your creditors. ... .Subsequently, the court probably cancel the rest of the debt by the discharge, as is the case in "more than 99 percent" of all Chapter 7 cases under the U.S. website. .. Pre-Petition AccountsTrustee Short takes pre-petition assets accounts.Any. .or accounts that you have before you file your bankruptcy petition is pre-petition assets or accounts. ... .Once the petition, all of these assets, other than file ownership, free or abandoned property by the trustee is, the property of the bankrupt estate. ... .If your paycheck is issued after the filing of the petition, but you earned wages prior to the filing of the petition, the compensation a plus Pre-Petition. ... .The trustee uses all these assets to your creditors.Post AccountsTrustee pay petition can not touch assets accounts.Any post-petition, falling earn after filing the petition in bankruptcy as assets postal. Query. ... .For example, if a bankruptcy petition in April to win the lottery in May and the deposit of the profit to a bank account file, it would be an account on the application. ... .The trustee can not go to each account after the requirement to pay your creditors in Chapter 7 bankruptcy. ... .What will remain in your possession.Chapter 13 ExceptionIn Chapter 13, can fund the account post-petition payment plan.As to Chapter 7 bankruptcy, if sold the assets and debts are discharged in Chapter 13 bankruptcy opposed. A person with a regular income may .. .To choose to keep their assets and pay its debts in the plan by three to five years of credit. ... .Again, imagine that a petition for Chapter 13 bankruptcy in April and have won the lottery in May Result deposit to a bank account. ... .This is an account after the application allows you to use this new account to help your repayment plan, but are not required to report to the U.S. courts website ....