UNITED STATES BANKRUPTCY COURT

 

 

 DISTRICT OF 

 DIVISION

 

TRUSTEE’S FINAL REPORT (TFR)

The undersigned trustee hereby makes this Final Report and states as follows:

1. A petition under chapter of the United States Bankruptcy Code was filed on

. The undersigned trustee was appointed on .

2. The trustee faithfully and properly fulfilled the duties enumerated in 11 U.S.C. §704.

3. All scheduled and known assets of the estate have been reduced to cash, released to

the debtor as exempt property pursuant to 11 U.S.C. § 522, or have been or will be abandoned

pursuant to 11 U.S.C. § 554. An individual estate property record and report showing the

disposition of all property of the estate is attached as Exhibit A.

In re: §

§

VASANTH STEPHEN § Case No. 16-26384

RONALYN STEPHEN §

§

Debtors §

4. The trustee realized gross receipts of $

Funds were disbursed in the following amounts:

Payments made under an interim

disbursement

Administrative expenses

Bank service fees

Other payments to creditors

Non-estate funds paid to 3rd Parties

Exemptions paid to the debtor

Other payments to the debtor

Leaving a balance on hand of1$

____________________

1

The balance of funds on hand in the estate may continue to earn interest until disbursed. The interest earned prior to disbursement

will be distributed pro rata to creditors within each priority category. The trustee may receive additional compensation not to exceed the

maximum compensation set forth under 11 U.S.C. §326(a) on account of the disbursement of the additional interest.

UST Form 101-7-TFR (5/1/2011) (Page: 1)

0.00 

101-7-TFR /2009 3 NORTHERN 

ILLINOIS 7

13,967.13 0.00 08/17/2016 EASTERN 32.87 14,000.00 0.00 

/2011 0.00 0.00 0.00 A 08/17/2016 ems Inc.

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5. Attached as Exhibit B is a cash receipts and disbursements record for each estate bank

account.

6. The deadline for filing non-governmental claims in this case was and the

deadline for filing governmental claims was . All claims of each class which will

receive a distribution have been examined and any objections to the allowance of claims have

been resolved. If applicable, a claims analysis, explaining why payment on any claim is not

being made, is attached as Exhibit C.

7. The Trustee’s proposed distribution is attached as Exhibit D.

8. Pursuant to 11 U.S.C. § 326(a), the maximum compensation allowable to the trustee is

$ . To the extent that additional interest is earned before case closing, the maximum

compensation may increase.

The trustee has received $ as interim compensation and now requests a sum of

$ , for a total compensation of $ 2. In addition, the trustee received

reimbursement for reasonable and necessary expenses in the amount of $ , and now requests

reimbursement for expenses of $ , for total expenses of $ 2.

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the

foregoing report is true and correct.

STATEMENT: This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork Reduction Act

exemption 5 C.F.R. § 1320.4(a)(2) applies.

The remaining funds are available for distribution.

Date: By:/s/BRENDA PORTER HELMS, TRUSTEE

Trustee

____________________

2

If the estate is administratively insolvent, the dollar amounts reflected in this paragraph may be higher than the amounts listed in the

Trustee’s Proposed Distribution (Exhibit D).

UST Form 101-7-TFR (5/1/2011) (Page: 2)

0.00 0.00 01/17/2017 0.00 2,150.00 12/05/2017 0.00 2,150.00 02/13/2017 2,150.00

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Exhibit A

FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Case No: 16-26384 JSB Judge: Janet S. Baer Trustee Name: BRENDA PORTER HELMS, TRUSTEE

Case Name: VASANTH STEPHEN Date Filed (f) or Converted (c): 08/17/2016 (f)

RONALYN STEPHEN 341(a) Meeting Date: 09/13/2016

For Period Ending: 12/05/2017 Claims Bar Date: 01/17/2017

1 2 3 4 5 6

Asset Description

(Scheduled and Unscheduled (u) Property)

Petition/

Unscheduled

Values

Est Net Value

(Value Determined by 

Trustee, Less Liens, 

Exemptions,

and Other Costs)

Property Formally

Abandoned

OA=554(a)

Sale/Funds

Received by

the Estate

Asset Fully

Administered (FA)/

Gross Value of Remaining 

Assets

1. 133 S LAWFORD CT

BLOOMINGDALE IL 60108-1582

233,000.00 0.00 0.00 FA

2. 2012 TOYOTA PRIUS TWO LEASED TOYOTA PRIUS 

VEHICLES.

0.00 0.00 0.00 FA

3. 2009 CADILLAC ESCALADE MILEAGE: 90000 21,000.00 0.00 0.00 FA

4. MERCEDES LEASE 0.00 0.00 0.00 FA

5. HOUSEHOLD GOODS AND FURNISHINGS 0.00 0.00 0.00 FA

6. COMPUTER AND TELEVSION 0.00 0.00 0.00 FA

7. CLOTHING 0.00 0.00 0.00 FA

8. ROLEX WATCH 7,000.00 6,000.00 6,000.00 FA

9. WEDDING RING 16,000.00 8,000.00 8,000.00 FA

10. CASH ON HAND 0.00 0.00 0.00 FA

11. BMO HARRIS-checking account 700.00 0.00 0.00 FA

12. BMO HARRIS-checking account 1,200.00 0.00 0.00 FA

13. 401(K) 334.00 0.00 0.00 FA

14. 401(K) 267.00 0.00 0.00 FA

15. POSSIBLE PAYOUT FROM US MEDICAL MANAGEMENT 

AMOUNT UNKNOWN IF

0.00 0.00 0.00 FA

16. DEBTORS OWNED & OPERATED PHYSICIANS HOME 

CARE SERVICES PLUS

Business is no longer operating.

Unknown 0.00 0.00 FA

INT. Post-Petition Interest Deposits (u) Unknown N/A 0.00 Unknown

Gross Value of Remaining Assets

TOTALS (Excluding Unknown Values) $279,501.00 $14,000.00 $14,000.00 $0.00

(Total Dollar Amount in Column 6)

Page: 1

UST Form 101-7-TFR (5/1/2011) (Page: 3)

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Exhibit A

Major activities affecting case closing which are not reflected above, and matters pending, date of hearing or sale, and other action:

9/30/17: Trustee sold watch and ring to third parties Preparing TFR

9/30/16: Jeweler\ and watch turned over to Trustee Trustee obtaining valuation of same

Initial Projected Date of Final Report (TFR): 11/30/2016 Current Projected Date of Final Report (TFR): 03/30/2018

Page: 2

UST Form 101-7-TFR (5/1/2011) (Page: 4)

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Exhibit B

FORM 2

ESTATE CASH RECEIPTS AND DISBURSEMENTS RECORD

Case No: 16-26384 Trustee Name: BRENDA PORTER HELMS, TRUSTEE

Case Name: VASANTH STEPHEN Bank Name: Associated Bank

RONALYN STEPHEN Account Number/CD#: XXXXXX3888

Checking

Taxpayer ID No: XX-XXX3942 Blanket Bond (per case limit): $5,000,000.00

For Period Ending: 12/05/2017 Separate Bond (if applicable):

1 2 3 4 5 6 7

Transaction Date Check or 

Reference

Paid To / Received From Description of Transaction Uniform Tran. 

Code

Deposits ($) Disbursements ($) Account/CD Balance 

($)

09/13/17 8 Soulcraft Diamonds Inc Sale proceeds from Rolex 

watch 

Correction: Received from 

Pragnesh Shah for Milan 

Imports (payor name 

transposed on ledger with 

payor name from Deposit #2)

Sold per order 8/11/17 [dkt 24]

1129-000 $6,000.00 $6,000.00

09/13/17 9 Pragnesh Shah Sale proceeds of Diamond 

Ring 

Correction: Received from 

Soulcraft Diamonds, Inc. (payor 

name transposed on ledger 

with payor name from Deposit 

#1)

Sold per order 8/11/17 [dkt 24]

1129-000 $8,000.00 $14,000.00

10/06/17 Associated Bank Bank Service Fee under 11 

U.S.C.  330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $12.08 $13,987.92

11/07/17 Associated Bank Bank Service Fee under 11 

U.S.C.  330(a)(1)(B), 503(b)

(1), and 507(a)(2)

2600-000 $20.79 $13,967.13

COLUMN TOTALS $14,000.00 $32.87

Less: Bank Transfers/CD's $0.00 $0.00

Subtotal $14,000.00 $32.87

Less: Payments to Debtors $0.00 $0.00

Net $14,000.00 $32.87

Page Subtotals: $14,000.00 $32.87

Page: 1

UST Form 101-7-TFR (5/1/2011) (Page: 5)

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Exhibit B

TOTAL OF ALL ACCOUNTS

NET ACCOUNT

NET DEPOSITS DISBURSEMENTS BALANCE

XXXXXX3888 - Checking $14,000.00 $32.87 $13,967.13

$14,000.00 $32.87 $13,967.13

(Excludes account

transfers)

(Excludes payments

to debtors)

Total Funds on Hand

Total Allocation Receipts: $0.00

Total Net Deposits: $14,000.00

Total Gross Receipts: $14,000.00

Page Subtotals: $0.00 $0.00

Page: 2

UST Form 101-7-TFR (5/1/2011) (Page: 6)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-26384-DRC Date: December 5, 2017

Debtor Name: VASANTH STEPHEN

Claims Bar Date: 1/17/2017

Page 1 Printed: December 5, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

$0.00 $2,150.00 $2,150.00

100

2100

THE HELMS LAW FIRM PC

3400 W. LAWRENCE AVENUE

CHICAGO, IL 60625

Administrative

1 $0.00 $1,559.49 $1,559.49

300

7100

FIRST DATA GLOBAL

LEASING

BY AMERICAN INFOSOURCE

LP AS AGENT

PO BOX 248838

OKLAHOMA CITY, OK 73124-

8838

Unsecured

2 $0.00 $917.22 $917.22

300

7100

QUANTUM3 GROUP LLC AS

AGENT FOR

Comenity Bank

PO Box 788

Kirkland, WA 98083-0788

Unsecured

3 $0.00 $1,521.10 $1,521.10

300

7100

QUANTUM3 GROUP LLC AS

AGENT FOR

Comenity Bank

PO Box 788

Kirkland, WA 98083-0788

Unsecured

4 $14,002.00 $14,881.94 $14,881.94

300

7100

DISCOVER BANK

DISCOVER PRODUCTS INC

PO BOX 3025

NEW ALBANY, OH 43054-3025

Unsecured

5 $0.00 $845.07 $845.07

300

7100

AMERICAN EXPRESS

CENTURION BANK

C/O BECKET AND LEE LLP

PO BOX 3001

MALVERN PA 19355-0701

Unsecured

6 $5,073.00 $5,381.11 $5,381.11

300

7100

AMERICAN EXPRESS BANK

FSB

C/O BECKET AND LEE LLP

PO BOX 3001

MALVERN PA 19355-0701

Unsecured

7 $1,654.00 $2,028.54 $2,028.54

300

7100

AMERICAN EXPRESS BANK

FSB

C/O BECKET AND LEE LLP

PO BOX 3001

MALVERN PA 19355-0701

Unsecured

8 $6,515.00 $10,081.91 $10,081.91

300

7100

AMERICAN EXPRESS BANK

FSB

C/O BECKET AND LEE LLP

PO BOX 3001

MALVERN PA 19355-0701

Unsecured

UST Form 101-7-TFR (5/1/2011) (Page: 7)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-26384-DRC Date: December 5, 2017

Debtor Name: VASANTH STEPHEN

Claims Bar Date: 1/17/2017

Page 2 Printed: December 5, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

9 $0.00 $8,396.06 $8,396.06

300

7100

PYOD, LLC ITS SUCCESSORS

AND ASSIGNS AS ASSIGNEE

OF CITIBANK, N.A.

RESURGENT CAPITAL

SERVICES

PO BOX 19008

GREENVILLE, SC 29602

Unsecured

10 $10,595.00 $10,833.01 $10,833.01

300

7100

PYOD, LLC ITS SUCCESSORS

AND ASSIGNS AS ASSIGNEE

OF CITIBANK, N.A.

RESURGENT CAPITAL

SERVICES

PO BOX 19008

GREENVILLE, SC 29602

Unsecured

11 $20.00 $17.75 $17.75

300

7100

ASHLEY FUNDING SERVICES,

LLC ITS SUCCESSORS AND

ASSIGNS AS ASSIGNEE OF

LABORATORY

CORPORATION OF AMERICA

HOLDINGS

RESURGENT CAPITAL

SERVICES

PO BOX 10587

GREENVILLE, SC 29603-0587

Unsecured

12 $0.00 $9.46 $9.46

300

7100

ASHLEY FUNDING SERVICES,

LLC ITS SUCCESSORS AND

ASSIGNS AS ASSIGNEE OF

LABORATORY

CORPORATION OF AMERICA

HOLDINGS

RESURGENT CAPITAL

SERVICES

PO BOX 10587

GREENVILLE, SC 29603-0587

Unsecured

13 $25,000.00 $25,175.63 $25,175.63

300

7100

SOFI LENDING CORP

ONE LETTERMAN DR BLDG A

STE 4700

SAN FRANCISCO, CA 94129

Unsecured

14 $0.00 $7,082.07 $7,082.07

300

7100

SYNCHRONY BANK

C/O PRA RECEIVABLES

MANAGEMENT, LLC

PO BOX 41021

NORFOLK VA 23541

Unsecured

15 $3,643.00 $3,959.07 $3,959.07

300

7100

PROSPER MARKETPLACE INC.

C/O WEINSTEIN & RILEY P.S.

2001 WESTERN AVE STE. 400

SEATTLE, WA 98121

Unsecured

UST Form 101-7-TFR (5/1/2011) (Page: 8)

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Exhibit C

ANALYSIS OF CLAIMS REGISTER

Case Number: 16-26384-DRC Date: December 5, 2017

Debtor Name: VASANTH STEPHEN

Claims Bar Date: 1/17/2017

Page 3 Printed: December 5, 2017

Code # Creditor Name And Address Claim Class Notes Scheduled Claimed Allowed

16 $0.00 $2,797.12 $2,797.12

300

7100

CAVALRY SPV I, LLC

BASS & ASSOCIATES, P.C.

3936 E. FT. LOWELL ROAD,

SUITE #200

TUCSON, AZ 85712

Unsecured

17 $7,812.00 $7,812.72 $7,812.72

300

7100

CAVALRY SPV I, LLC

BASS & ASSOCIATES, P.C.

3936 E. FT. LOWELL ROAD,

SUITE #200

TUCSON, AZ 85712

Unsecured

18 $7,223.00 $7,609.05 $7,609.05

300

7100

PORTFOLIO RECOVERY

ASSOCIATES, LLC

SUCCESSOR TO SYNCHRONY

BANK

(BANANA REPUBLIC VISA)

POB 41067

NORFOLK, VA 23541

Unsecured

Case Totals $81,537.00 $113,058.32 $113,058.32

Code#: Trustee’s Claim Number, Priority Code, Claim Type (UTC)

UST Form 101-7-TFR (5/1/2011) (Page: 9)

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TRUSTEE’S PROPOSED DISTRIBUTION

Exhibit D

Case No.: 16-26384

Case Name: VASANTH STEPHEN

RONALYN STEPHEN

Trustee Name: BRENDA PORTER HELMS, TRUSTEE

Claims of secured creditors will be paid as follows:

NONE

Applications for chapter 7 fees and administrative expenses have been filed as follows:

Applications for prior chapter fees and administrative expenses have been filed as follows:

NONE

In addition to the expenses of administration listed above as may be allowed by the Court,

priority claims totaling $ must be paid in advance of any dividend to general (unsecured) creditors.

Allowed priority claims are:

NONE

Balance on hand $

Reason/Applicant Total Requested

Interim Payments

to Date

Proposed

Payment

Trustee Fees: THE HELMS LAW FIRM PC $ $ $

Total to be paid for chapter 7 administrative expenses $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 10)

2,150.00 11,817.13 2,150.00 0.00 0.00 13,967.13 2,150.00

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The actual distribution to wage claimants included above, if any, will be the proposed payment

less applicable withholding taxes (which will be remitted to the appropriate taxing authorities).

Timely claims of general (unsecured) creditors totaling $ have been allowed and

will be paid pro rata only after all allowed administrative and priority claims have been paid in full. The

timely allowed general (unsecured) dividend is anticipated to be percent, plus interest (if

applicable).

Timely allowed general (unsecured) claims are as follows:

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

1

FIRST DATA GLOBAL

LEASING $ $ $

2

QUANTUM3 GROUP

LLC AS AGENT FOR $ $ $

3

QUANTUM3 GROUP

LLC AS AGENT FOR $ $ $

4 DISCOVER BANK $ $ $

5

AMERICAN EXPRESS

CENTURION BANK $ $ $

6

AMERICAN EXPRESS

BANK FSB $ $ $

7

AMERICAN EXPRESS

BANK FSB $ $ $

8

AMERICAN EXPRESS

BANK FSB $ $ $

9

PYOD, LLC ITS

SUCCESSORS AND

ASSIGNS AS ASSIGNEE $ $ $

10

PYOD, LLC ITS

SUCCESSORS AND

ASSIGNS AS ASSIGNEE $ $ $

11

ASHLEY FUNDING

SERVICES, LLC ITS

SUCCESSORS AND $ $ $

UST Form 101-7-TFR (5/1/2011) (Page: 11)

110,908.32 10.7 10,081.91 8,396.06 917.22 1,521.10 1,154.24 1,559.49 1.89 5,381.11 2,028.54 14,881.94 845.07 90.04 573.35 216.14 1,074.21 166.16 97.73 162.07 1,585.65 894.59 17.75 10,833.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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Tardily filed claims of general (unsecured) creditors totaling $ have been allowed and will

be paid pro rata only after all allowed administrative, priority and timely filed general (unsecured) claims

have been paid in full. The tardily filed claim dividend is anticipated to be percent.

Tardily filed general (unsecured) claims are as follows:

NONE

Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims ordered

subordinated by the Court totaling $ have been allowed and will be paid pro rata only after all

allowed administrative, priority and general (unsecured) claims have been paid in full. The dividend for

subordinated unsecured claims is anticipated to be percent.

Subordinated unsecured claims for fines, penalties, forfeitures or damages and claims ordered

subordinated by the Court are as follows:

Claim No. Claimant

Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

12

ASHLEY FUNDING

SERVICES, LLC ITS

SUCCESSORS AND $ $ $

13 SOFI LENDING CORP $ $ $

14 SYNCHRONY BANK $ $ $

15

PROSPER

MARKETPLACE INC. $ $ $

16 CAVALRY SPV I, LLC $ $ $

17 CAVALRY SPV I, LLC $ $ $

18

PORTFOLIO RECOVERY

ASSOCIATES, LLC $ $ $

Total to be paid to timely general unsecured creditors $

Remaining Balance $

UST Form 101-7-TFR (5/1/2011) (Page: 12)

0.00 0.0 0.00 810.74 1.01 2,682.43 298.03 832.44 754.58 421.83 25,175.63 7,082.07 9.46 7,812.72 7,609.05 3,959.07 2,797.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.00 11,817.13

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NONE

UST Form 101-7-TFR (5/1/2011) (Page: 13)

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