Can I call the Trustee?

[NowImDownInIt]

We have had the vehicle for sale for nine months. It just so happens we finally found a buyer, just at a bad time.
Im not helping my husband by selling it, Im helping us because any payments come out of our household income.

When the trustee asks why I sold it, it was to pay off the loan. Im selling it no matter what becasue we've been paying for a vehicle we dont need and cannot afford. I dont see anything fishy about that. We will not make anything from this sell.

I hope your trustee takes everything into account before making a decision. Be very upfront and honest with him. Especially if you've had it for sale for 9 months. I hope you have some kind of documentation of that.

[KP1980]

I hope your trustee takes everything into account before making a decision. Be very upfront and honest with him. Especially if you've had it for sale for 9 months. I hope you have some kind of documentation of that.

Totally, we've had it for sale in Autotrader and Car soup since February.
I'll show reciepts that prove someone purchased it for $7,000. Im upside down with the loan, so we dont stand to make a dime. We actually have to put another $1,000 to pay it off.

[momof5]

I should have phrased it a little better. Even though you say your NOT doing this so your husband doesnt get stuck with the debt. You need to look through it like you have Trustee eyes.

The Trustee isnt going to buy that you sold the vehicle to be nice to the bank.

[AngelinaCat]

We have had the vehicle for sale for nine months. It just so happens we finally found a buyer, just at a bad time.
Im not helping my husband by selling it, Im helping us because any payments come out of our household income.

When the trustee asks why I sold it, it was to pay off the loan. Im selling it no matter what becasue we've been paying for a vehicle we dont need and cannot afford. I dont see anything fishy about that. We will not make anything from this sell.

Unfortunately we sold a piece of land to pay off a loan. Everything in our case was bad timing, because we had a very poor lawyer that even though we told her everything we did--she failed to educate us in the BK process. We started being educated when we found this site. By then it was too late to help us.

Sorry to digress, but we used the money to pay a loan back to a SIL and god-daughter. This activity fell within 180 days of our filing, and the trustee deemed it as 'preferrential' and 'insider'. We got to *enjoy* a Rule 2004(b) examination, with the result that we get to pay that money back to the BK estate. We were able to reach a compromise on an amount and payment. Otherwise the trustee would go after SIL and god-daughter for the FULL amount. We paid them back in good-faith and chose to not have them penalized. Not to mention that if paperwork was served on SIL and his wife, my DH's daughter, DH's already tenuous relationship with his daughter would be toast.

Good luck.

[momof5]

Yesterday you posted this;

"Its a joint loan!!! I forgot to mention. I cant surrender, or it would go solely in my husbands name"



So why did you respond that you were not trying to help your husband?


Sorry to sound harsh but I am reading through all your posts and I am completely confused. Either your not being 100% truthful about your intentions or your really in a mess here.

You said you had already filed yet you go on to ask questions about what you should put here and there on different schedules.

My last bit of advice to you is this and almost everyone here will agree. You need to be 100% honest both on paperwork and in your life while filing Bk.

[TEW]

Yesterday you posted this;

"Its a joint loan!!! I forgot to mention. I cant surrender, or it would go solely in my husbands name"



So why did you respond that you were not trying to help your husband?


Sorry to sound harsh but I am reading through all your posts and I am completely confused. Either your not being 100% truthful about your intentions or your really in a mess here.

You said you had already filed yet you go on to ask questions about what you should put here and there on different schedules.

My last bit of advice to you is this and almost everyone here will agree. You need to be 100% honest both on paperwork and in your life while filing Bk.

GET AN ATTORNEY YOU ARE WAY TO STRSSED TO TRY THIS ON YOUR OWN

[woeisme]

All this person wants to do is sell a car that they have negative equity in. They won't be making money, will actually be losing money on the sale, and the BK trustee wouldn't gain a dime by making them hold onto the car. So I guess I'm dense because I just don't see how this is "fishy". The only thing I think that the trustee could ask is "where did you get the $1000 to pay off the bank loan in full?" I think the debtor could answer that as the money comes from her husband, who is not filing, and who will have the money because he is no longer making payments on the $8000 bank note, right? it's not preferential to pay the loan to the bank because the loan is secured by the asset, the car. If the car was not secured by a loan, selling and paying someone would be preferntial, but not in this case (other than the $1000 difference).

[TEW]

All this person wants to do is sell a car that they have negative equity in. They won't be making money, will actually be losing money on the sale, and the BK trustee wouldn't gain a dime by making them hold onto the car. So I guess I'm dense because I just don't see how this is "fishy". The only thing I think that the trustee could ask is "where did you get the $1000 to pay off the bank loan in full?" I think the debtor could answer that as the money comes from her husband, who is not filing, and who will have the money because he is no longer making payments on the $8000 bank note, right? it's not preferential to pay the loan to the bank because the loan is secured by the asset, the car. If the car was not secured by a loan, selling and paying someone would be preferntial, but not in this case (other than the $1000 difference).

why do it? PO has enough going on the loan will be discharged. The car can be surrendered. I'm not sure about you but I didn't want the trustee asking me about anything. why put a flag up if you don't have to?

[Tbornetun]

I don't see any issue with the person selling the car. The $1000 could come from the husband. If the trustee were to question it, worst case scenario, she would have to pay $500 to the trustee to distribute to creditors. It seems like a small price to save the husband's credit. I would rather pay it than to have a repossession on my credit.

[HHM]

Bottom line, until the BK is discharge, the car (or at least the debtor's interest in the car) is part of the BK estate and the debtor must seek permission from the trustee before she can sell any property that is part of the BK estate.

[KP1980]

The Trustee said...I can sell it

In regards to selling my; Joint, Liened, upside-down loaned vehicle, prior to the 341 meeting...Is OK.
He said just to bring a copy of the title. and no amending needs to be done.
Good to go!

[tunskit]

Yes. I emailed our trustee when I had questions.