A Trustee in my house?

[fugazee]

I was wondering does the trustee really come out to your home to value all ur assets?? Are they going to look through my drawers and closets to see what they might scounder up? I think I would feel pretty violated if this were the case. Please help I'm about to file and this has me very worried

[SinkingFast]

Nah! The Trustee doesn't go to people's homes. They hire an appraiser to do the job for them.

Seriously tho, I asked our paralegal this very question. And that's the answer I got. Rarely does the Trustee even do that. Especially with regular folk.

Typically you'd have to have expensive household things for the Trustee to wanna come look see. Paintings, sculpture, or other works of art. Furs. Jewels. That type of thing. Then the Trustee would be appraising for sure.

[FilingOnMyOwn]

Nothing to worry about, unless you are hiding lots of valuables.

[aa06a47]

Not likely the trustee would, or even hire someone. There is always that little voice saying they can though, keeps most people honest!

[macsen]

Only question I was asked was how we came up with the value of our home and "Why are you so confident that is the value?" We told him it was based on our property tax assessment and looking at the price comparable homes were going for in the area. He didn't seem to have a problem with that. As for the other property....no questions at all. Only assets of interest were our tax returns for next year and the non-exempt cash on hand in the bank account and owed to us by our employers on the date filed.

[fugazee]

so you are telling me that there is a chance... How many of you on here have had your home looked through by a trustee or a trustees hired apraiser??? Another question, if I have stock through my job, payments come out of my check, will I have to sign that over to them?? Thanks for all the help guys i appreciate it.

[NCfellow]

...what they might scounder up?

Mmmmmm broiled scounder

[Minnymouth]

Your home could be appraised for its value and any collectable that you might own...... other than that.... NO, they don't go thru your stuff.........

They are only interested in expensive stuff...... jewelry, weapons, collectables.....

You may need an appraisal if your home is going to be sold.......

I wouldn't worry about it...........

[Jhbk29]

Your home could be appraised for its value and any collectable that you might own...... other than that.... NO, they don't go thru your stuff.........

They are only interested in expensive stuff...... jewelry, weapons, collectables.....

You may need an appraisal if your home is going to be sold.......

I wouldn't worry about it...........

Our Chapter 7 Trustee came out to our house. We didn't have anything to hide not really sure why she felt the need but she did come. I also found out that she was in my neighborhood because another one of my neighbors had filed as well and she went to their house too.. Go figure... We switched to a 13 and are still dealing with issues... LOL

[Minnymouth]

That's extremely unusual for a Trustee to come to the premises....... either your assets were in question on the value of your home was......
And usually they ask you to just get an appraisal for them......

Did she say what she was looking for???? What was in question??

[SinkingFast]

Our Chapter 7 Trustee came out to our house. We didn't have anything to hide not really sure why she felt the need but she did come. I also found out that she was in my neighborhood because another one of my neighbors had filed as well and she went to their house too.. Go figure... We switched to a 13 and are still dealing with issues... LOL

As Minny said, that's extremely rare for the actual Trustee to visit a Debtor/Filer's home. Maybe you had the extreme luck of drawing a rookie Trustee.

I spent hours looking at the newspaper, the Goodwill auction website, visiting 2nd hand stores, and I looked at several filings on PACER. Attnys were entering about the same value for everyone's household goods. Somewhere between $2K and $3K depending on different tools, riding lawn mower, collectibles, etc, that people claimed. In a second hand sale, your things really aren't worth much to other people.

I had already worked up an inventory of our house and had a baseline value established. The paralegal offered, if we weren't satisfied with it, that we could use an appraiser service. They have a guy that does that for them. Goes around and values people's things in their home. Costs $100 I think she said.

If you're really worried about the value of your household things, I'm sure any attny you pick will have a Contact that can come and do the valuation for you. For a nominal fee, that is.