Notes - Due Diligence Contact BK Trustee

2 Replies

Good evening all, I am in the process of doing some due diligence and am working on a 1st NPN which is going through BK (Ch 13). File I received to date is somewhat lacking, so I was wondering if it is ok to call the trustee on the BK to get information on it? And would they be willing to provide me any information?

Thanks

Hi Chris,

If you are already the owner of the note then the trustee is obliged to work with you as part of the BK process. You have an interest in the case and need answers to your questions. If you are doing due diligence as part of an acquisition, you cannot approach the trustee and they cannot provide any answers. In my experience many trustees will provide information that you are not entitled to receive - so it depends on how well they know the rules (and whether they stick to them or not)

good luck with your workout

Paul

@Chris Seveney

You can source BK data directly from Pacer at www.pacer.gov.  Additionally, you should be able to ask your seller to provide answers to specific questions if they are viable questions.  You really do not have an interest in the BK case until you file a transfer of claim post purchase.  

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