341 Meeting Today - Yuk! what a surprise!

[Zoomie]

[StaciMM]

Yes-if they take it to sell it, 1/2 of what they get for it goes to your mom and then $1400 to you. The trustee/creditors keep the rest.

I'd say tell him to sell the truck. Most likely, he'll back down and not want to bother with it. ONLY do that if you are ok w/ giving it up-because he might actually take it. (If its $2500ish trade in value, though, it isn't likely for him to get nearly $6000 for it and he probably knows that. Is probably thinking that your mom will give him the $1400 to save the truck.)

[Zoomie]

[QUOTE=StaciMM]Yes-if they take it to sell it, 1/2 of what they get for it goes to your mom and then $1400 to you. The trustee/creditors keep the rest.

So...She would only get half of what the truck actually sells for? Well, that might be only about $1500 - Combined with my 1400 would bring us only $2900 and I'm not sure I can replace it for that. It's a '92 model with only 90,000 miles on it - Rats! this is gonna be a hard one!

Seems to me that if they're so sure what its worth then they should have to pay her half or their own valuation. I know too that he can't possibly get $6000 out of it - the greedy faker!

[Zoomie]

Anyone else can chime in - what if I file a motion for dismissal or what do I need to do the have this heard by the judge?

I certainly think its unjust to value a vehicle $1200 more than what we paid for it 2 1/2 yrs ago - don't you think the judge would agree?

After all, even if they manage to get $4000 out of it, that's $2000 to my mom and $1400 to me. That leaves only $600 for the creditors and very little for the Trustee.......No one ever said that the federal gov't. was rational.

[FilingOnMyOwn]

Lets be real, a 92 is a 14 year old car! Unless its a mercedes G500 or something, or maybe a diesel 4X4, that thing wouldn't be worth crap at an auction. I honestly doubt they could sell it for enough to even pay off your mothers half. But then again, maybe they are not concerned with what your mom gets, she could end up taking the loss if they are viewing her as a creditor.

[bkfiler]

state the make, model, year, color, condition and extras for the car and maybe someone can figure out the real cost for you.

[Zoomie]

state the make, model, year, color, condition and extras for the car and maybe someone can figure out the real cost for you.

1992 Chevrolet in fair condition - needs some body work and tires- altogether I'd say about $1500 worth to bring it up where a dealer would want it. We know, however, no dealer would even mess with it - they would just take it straight to an auction.

Engine: V8 5.7 Liter
Trans: Automatic
Drive: 4WD
Mileage: 90,000

Silverado
Air Conditioning
Power Steering
Power Windows
Power Door Locks
Tilt Wheel
Cruise Control
AM/FM Stereo
Cassette
Bed Liner

[Zoomie]

Lets be real, a 92 is a 14 year old car! Unless its a mercedes G500 or something, or maybe a diesel 4X4, that thing wouldn't be worth crap at an auction. I honestly doubt they could sell it for enough to even pay off your mothers half. But then again, maybe they are not concerned with what your mom gets, she could end up taking the loss if they are viewing her as a creditor.

You're exactly right! It could maybe sell for $4000 - 45000 Tops but not likely. I am quite sure they can't get much for it. However, my dilemma is what to do about it. I feel a judge might see it my way but I haven't any idea how to go about that as I don' have an attorney. If I get one, he'll probably cost whatever savings I might get -- I just don't know.

OPEN TO ANY IDEAS

[FilingOnMyOwn]

Well sure, a dealer would try to sell it for 4 grand on their lot. But how much would a dealer bid on it at auction? Probably about 1000 maybe less.

[bkfiler]

try a look at www.kbb.com (kelly blue book) and see what it gets for dealer, trade in, and private party selling.

there are a few other sites as well. others may know the sites and post them.

[Zoomie]

[QUOTE=bkfiler]try a look at www.kbb.com (kelly blue book) and see what it gets for dealer, trade in, and private party selling.

kbb sez $2550 trade in - $3820 Private Party and $6265 retail - but retail is in the very best condition. kbb doesn't offer any other choice of condition for retail. NADA says $6700 retail - that's nonsense! Edmonds is too far off to mention.

Comparable trucks have been selling on ebay for $3500 - $4500

I've beein thinking we could just buy it back from the auction cheaper maybe?
Don't think I would have to bid against dealers as they likely won't want to mess with fixing it up for sale.

[bkfiler]

i would start compiling printouts of all the sales prices you see. also, look in the newspaper and cut that entire page out too. go get a auto-trader at 7-11 stores look at that info as well.

the dealer-auction that they would try to sell it at wont get those prices at all imo so hopefully you will get it rated at a cheaper price.

[joefromky]

A pickup truck with 4wd and low miles will fetch more then you think, its nice to go by KBB but in all of reality its what the person is willing to pay. Ive seen some really bad looking beat up pickups go for $3000+, and this is a full size silverado, lots of contractors and business people buy these for work. I can see how the trustee can value it higher then you expect. Im not saying what they are doing is right however.

[Zoomie]

OK guys, we know about what the truck is worth. We know the trustee has inflated the value by at least $1000.00.

My real problem here is what to do about it. How do I approach him about this without making him angry, or should I just file a motion for it to be heard by a federal judge?

Maybe an attorney could help? Frankly, I would rather pay an Atty. than this greedy trustee. It's clear to me that he's only thinking abt how much he will get.

[bkfiler]

i think the problem with lack of 'what to do' replies has to do with the fact that we can only share what we have already gone through. so we are all working on the price cuz we all had to do that as well. my attorney just looked it up in a computer who knows where, prob kbb.

your problem is that the trustee is saying its worth more but you want to keep it. basically its a fight. the problem now is that the trustee is good at this and knows he can do almost anything because you are not represented.

i think getting consultations with up to 5 attorneys (cuz they are free) would be a good idea. all while documenting how much the vehicle is worth and sending that information to the trustee in a letter right away. the attorneys might let slide some info good for your case just to help you

as far as filing motions or fighting him directly i dont know. thats why i got an attorney. i believe that trustees target pro-se filers because they cant fend for themselves that well. this is what ive seen from my experience and it seems logical. thank god it doesnt happen that often.