1. Chapter Eleven. Preparing a Proceeding for a Trustee After reading this chapter, you will be able to: Understand the number of simple actions which can be taken to greatly ease the handling of any bankruptcy proceeding Provide a specific checklist of acts which can be taken in an asset proceeding to enhance the likelihood of creditor dividends List questions commonly posed by individual consumer debtors

2. Prefiling Actions The primary rule for properly preparing a proceeding for filing is to make the Chapter 7 trustee’s job as easy as possible in order to achieve the greatest recovery and, hence,distribution.

3. Prefiling Checklist Value Assets Obtain Documents of Title (Such as Vehicle Ownership Documents) and Keys to All Vehicles Obtain Name and Address of Landlord(s) Obtain Itemized Inventory and Equipment List, with Values, if Possible Obtain Bank Records Compile Accounts Receivable Data Return Leased Equipment to Lessors Maintain Security Obtain Prior Years’ Tax Returns

4. Postfiling (Asset Case) Checklist Learn identity of trustee Communicate with trustee Close bank accounts and obtain cashier’s check for trustee Encourage insider cooperation with trustee

5. Practice Pointer The debtor’s property tax appraisal is generally not accepted as evidence of the fair market value for the debtor’s property.

6. Practice Pointer Most time, the trustee will seek to retain debtor’s prepetition counsel to continue to pursue a particular state law claim, such as in a personal injury matter, only this time on behalf of the bankruptcy estate.