Assets Acquired After Case Filing

You are under a court order during your Chapter 13 to report new assets. The reporting of new assets fall into two categories: those you must report regardless of the value and those you must report if they exceed $4,999.00.

Newly acquired assets you must report regardless of the value include:

inheritances
lottery winnings of significant value
Settlements from legal claims such as personal injury, dispute settlements, etc.
other “windfalls” including unexpected refunds, financial awards from class action lawsuits, etc.

Assets you must report if they exceed $4,999.00.

1) Any property although financed for less than $4,999.00 but told value of the newly acquired assets exceeds $4,999.00. This would occur where a down payment was part of the transaction.

2) Gifts

3) Refunds

WARNING: When in doubt, ask your attorney.