Posted on: 22nd Feb, 2012 12:49 am
hello there… i had filed chapter 13 bankruptcy in september, 2010 and have company gifted stock that i would like to cash out. under my bankruptcy filing, i am following a 60 month payment program to pay off my debts. i was issued the stock in 2003, 2004, and 2008 as incentive stock options awards. can i sell off/cash out my stock with or without approval of the chapter 13 trustee?
Hi Kierman,
As far as I know, you probably won able to sell off your stocks once you have filed bankruptcy. You should note that it should be included as an asset in your bankruptcy filing. The trustee decides what he/she will be doing with it. If you have not disclosed it, then you should immediately contact your attorney and get your bankruptcy filing amended.
Take care.
As far as I know, you probably won able to sell off your stocks once you have filed bankruptcy. You should note that it should be included as an asset in your bankruptcy filing. The trustee decides what he/she will be doing with it. If you have not disclosed it, then you should immediately contact your attorney and get your bankruptcy filing amended.
Take care.
Hi Kierman,
I agree with Sara. You won't be able to sell off your Incentive Stock Options Awards as it will be considered as your asset when you file bankruptcy.
Thanks
I agree with Sara. You won't be able to sell off your Incentive Stock Options Awards as it will be considered as your asset when you file bankruptcy.
Thanks