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Bank statements

If you are newly bankrupt and send in your monthly income/expense reports on time, are there any instances where the trustee may, in the near future, request to see your bank statements?

And at the end of the bankruptcy, is there a chance all of your bank statements will be called in?

I`m asking because I don`t keep my monthly statements from my bank, but perhaps I should start?

Thank you.

One Response to “Bank statements”

A licensed trustee said...

There most certainly may be – as a rule, you should be keeping your bank statements and other financial records for at least 4 years. I know it sounds like a lot, but the government has the right to go back 3 years and re-assess your taxes – without your bank statements and other records you my not be able to prove what you claimed.

At the very least you should keep your bank statements and other financial records until after you have completed your bankruptcy.

Good luck – do what you’re told to do by your trustee and the process will go smoothly.