Unique Situation...Don't Be a Hater Plz

[krp]

My husband & I filed chpt 7 last Feb. Pacer says it was discharged but not closed.

We received an inheritance in late Aug/Sept. The trustee has filed a "Notice of Recovery of Assets, retention of counsel and declaration of disinterestedness" on 9/6/05. I know we are blessed to have this happen, but it would have been more convienent if it had happened either before or later. We just didn't know.

We tried to have the case dismissed long ago, but no doing after we had our initial hearing, the trustess wants his cut. I had no idea I would be on the receiving end of an inheritance, otherwise I would have held out, negotiatiated with creditors and dealt with the situation on my own.

We have since moved out of state, and exchanging voice mails with our lawyer, who seems to be losing interest. KWIM? So much BS and we just want to do what we need to do to begin to put this behind us so we can move on. My question is will they just make us pay a lump sum, or give us a schedule of payments what? Do they always garnish your wages if they change it to chptr 13? What process would it go through to change from a 7 to a 13?

The best part is that like most of you, we wanted to keep this private. But the "lovely" (said in my most sarcastic and saccharine laced voice) trustee subenoed and issued a warrant for my parents arrest. What a lovely conversation I was able to have with all that. (Anyone available to egg a house?)

[Minnymouth]

When was your case discharged?
Did you report the inheirtance to your attorney and trustee?
Why did the Trustee have your folks arrested???

Now that you have an "asset" that the Trustee can take, he will take ALL THAT HE WANTS till the creditors are paid to his satisfaction... meaning he can take it ALL....

Did you know about the inheirtance before you filed BK??

Minny

[krp]

No I did not know about the inheritance beforehadn, otherwise we would have held off and worked things out on our own. Yes, I told our atty and he forwarded the info onto the trustee.

The trustee asked for some document or another, that I didn't have access to. He then apparently requested it from my parent's atty who didn't receive the notice until just yesterday. Along with warrants for them. They live out of state as well, so they weren't technically arrested, and their atty actually used to work with trustee so she is trying to work that part out.

I have no problem paying my debts now that I am able to. I just wondered how it would play out from here and have not been able to talk to our atty lately, lots of phone tag.

[FloridaGirl]

You still didn't answer the question of why your parents had warrants issued. What do they have to do with your BK? I'm not "hating," but something sounds strange here. You aren't explaining the situation in an understandable way.

Okay, after re-reading your post, I am assuming the "we" you refer to is you and your parents. I originally thought "we" meant you and a significant other, hence I didn't understand where your parents fit in. Did you and your parents all file BK together or something? Were you co-debtors on credit cards? Did you get caught trying to transfer your inheritance money into your parents name or something like that? Please explain where your parents fit into this equation and why on earth they would be suspected of illegal action. A trustee doesn't just issue warrants unless they have a pretty good reason. What's really going on?

[StaciMM]

My impression is that the parents were expected to provide info, they didn't know about it since they were out of state, and the warrant was due to the failure to repsond to the court order/request.

Krp filed BK w/ her spouse. After filing (and I think also after discharged) Krp came into an inheritance-presumably from someone in her family which is why the parents were approached about submitting info/documentation (maybe a copy of the will?). Krp notified her attorney who in turn notified the trustee, the trustee is now seeing dollar signs. Krp is having a hard time getting info from her attorney-typical as bk attorneys are hardly available before the 341 and rarely after. In the meantime, Krp & spouse are in BK limbo. Debts are discharged, but the case is reopened due to the inheritance.

Krp-I apologize if I got anything wrong. From reading yours posts, this is my interpretation.

[bkfiler]

who are you asking not to be a hater?

what am i missing.

also, your posts seem strange to say the least. not sure if you are telling the story correct. no matter though. its your story.

can anyone else explain why someone couldnt drop the BK anytime they want and cancel it? or once it is rolling then it keep going - escpecially if the trustee sees a big sum of money (or a nice desk) ?

[StaciMM]

Once you've filed the ch. 7, 'firing' the trustee is not a simple thing. Missing the 341 will get your case dismissed, and if your petition has extra income or questionable expenses the trustee may dismiss or recommend a conversion to a ch. 13. Requesting it be dismissed because you have more assets than you realized is not gonna work. (The trustee won't give up his payday that easily!)

I took the thread title along the lines of "I came into an inheritance after BK-don't envy me 'cause its more hassle than help".

Come on people-behave! I know Lightning has not been around in a while, but there is no need to pick up where he left off!

[bkfiler]

Once you've filed the ch. 7, 'firing' the trustee is not a simple thing. Missing the 341 will get your case dismissed, and if your petition has extra income or questionable expenses the trustee may dismiss or recommend a conversion to a ch. 13. Requesting it be dismissed because you have more assets than you realized is not gonna work. (The trustee won't give up his payday that easily!)

I took the thread title along the lines of "I came into an inheritance after BK-don't envy me 'cause its more hassle than help".

Come on people-behave! I know Lightning has not been around in a while, but there is no need to pick up where he left off!

staci, thats not the wording. and you did read extra into it. i dont personally take offense to it at all but cant reply to it because it doesnt make sense to me. that hurts the poster over all. thats why we are telling them that. we want to help but cant.

as far as the lingo - girlfriend! you are young, you should know the lingo

by the way staci - dont be a hater!

[StaciMM]

There won't be a conversion to a 13, not since your debts are already discharged. If you had extra monthly income at the time of filing, then a 13 might have happened.

What happens from here will probably depend on the form of your inheritance. If it was land/property, the trustee will probably seize it & sell it. If it was cash/stocks, he'll probably liquidate and take it directly. If it is something like a family heirloom, he'll probably have it appraised and allow you or a family member to buy it back. I've heard of people making payments on non-exempt assets, though he probably wouldn't let it go on for too long.

One thought-look back over the exemptions from when you filed. I don't know if you can amend a schedule now, but if you have any sort of wild card remaining you might be able to protect a little of it at least.

We have since moved out of state, and exchanging voice mails with our lawyer, who seems to be losing interest. KWIM? So much BS and we just want to do what we need to do to begin to put this behind us so we can move on. My question is will they just make us pay a lump sum, or give us a schedule of payments what? Do they always garnish your wages if they change it to chptr 13? What process would it go through to change from a 7 to a 13?

[StaciMM]

I'm sure no harm was intended. But consider this-if you're a new poster, looking for a little info and guidance, and people post replies that your story is strange or may not be quite true, why would you stick around to be further insulted?

People come here because they need info, support, etc. Some have thick skins, some don't.

[bkfiler]

lol staci, you are reading too much into their own words. we all here only help each other. that should be obvious and proven with facts in evidence.

ill let them speak for themselves on the subject. until then i cant help cuz i dont understand the story.

[StaciMM]

All I'm saying is those of us who are comfortable/established here should take it a little easy on the new kids.

lol staci, you are reading too much into their own words. we all here only help each other. that should be obvious and proven with facts in evidence.

ill let them speak for themselves on the subject. until then i cant help cuz i dont understand the story.

[krp]

StaciMM you have the best take on it. Thank you for clarifying some of my situation. I was very upset when I first posted.

Let me see if I can clairfy some issues. When I said don't be a hater I meant that, yes we are very fortunate to have gotten any $$ at all, and I am not ungrateful. It would have been much better if it would have happened either earlier or later due to the mess we are/were in.

Yes, my spouse and I are the ones who filed bk. The trustee wanted some information that my parents had access to and I did not at that time. (stocks information/bonds/past tax returns) I told him what we had come into and as far as I could understand, that was all he needed to know about. I still don't understand the whole of it.

I guess I just want to know now if it's a matter of selling the stocks and paying off our creditors. Do we pay everything in full, ie interest fees, penalties, etc or a lessor amount. I am sure the answer is the most $$ he can get from us he will. I am confused about the language that our correspondence contains.

Our bk was filed 4/20/05 and discharged 8/20/05.

[Lightning]

I hope this inheritance came from either a living donor or an enemy. Otherwise, if you consider it a blessing, that makes you a cold-hearted..... well, I'm sure you know.

I must have read your post wrong because it sounds like you want your debts erased and you want to keep all this inheritance money in the bank. I'm sure you know life doesn't work that way.

[StaciMM]

Consider this angle: things happen in life for a reason, and no one is going to live forever. Personally, when I die I'd rather my friends and family celebrate the life I led rather than mourne my passing.

There is nothing bad about acknowledging an inheritance as a blessing.

I hope this inheritance came from either a living donor or an enemy. Otherwise, if you consider it a blessing, that makes you a cold-hearted..... well, I'm sure you know.