Hi All,
First here's my scenario...I have 3 apt buildings that went backwards and drove me here. Not much consumer debt, and my Atty has me classified as a "non-consumer CH7".
Now...on to my boat. It has maybe 1,000 equity, but only if I sell it in the spring. If I sell it now I couldnt' get what I owe on it.
I'm prepared to turn it over to the bank, but my atty suggested offering to reaffirm the boat for liquidation in the spring.
Questions:
1-Would this really fly with the trustee? I don't want to screw my Credit Union, so I'd like to do it if possible for that reason.
2- If the above is yes, and discharge is in Feb, is the Trustee going to track me down in March or April to make sure I've sold it?
First here's my scenario...I have 3 apt buildings that went backwards and drove me here. Not much consumer debt, and my Atty has me classified as a "non-consumer CH7".
Now...on to my boat. It has maybe 1,000 equity, but only if I sell it in the spring. If I sell it now I couldnt' get what I owe on it.
I'm prepared to turn it over to the bank, but my atty suggested offering to reaffirm the boat for liquidation in the spring.
Questions:
1-Would this really fly with the trustee? I don't want to screw my Credit Union, so I'd like to do it if possible for that reason.
2- If the above is yes, and discharge is in Feb, is the Trustee going to track me down in March or April to make sure I've sold it?