Request by Trustee to turn over non-protected assets

[joymal]

My bankruptcy was discharged several weeks ago. Now I've received a letter from the Trustee asking for me to either make an offer to purchase my truck, which I didn't protect or turn it over for auction.

Doesn't this seem out of synch with how this should have proceeded? I would have expected any requests to seize my assets to occur BEFORE declaring the discharge.

Any advise?

[lrprn]

Doesn't this seem out of synch with how this should have proceeded? I would have expected any requests to seize my assets to occur BEFORE declaring the discharge.

Discharged and closed are two separate events. For an excellent explanation of both, read HHM's sticky about the difference between the two at http://www.bkforum.com/showthread.php?p=72253#poststop

[JRScott]

If the truck isn't a protected asset you'll need to make an offer or surrender it . If you filed with a lawyer might ask their advice

[ThreadsSnapping]

If you are going to make an offer, see if you can get a few dealers to give you an auction value and a trade in value for the truck and make the trustee and offer somewhere in between the two.

What kind of truck do you have?

TS

[AngelinaCatHub]

We had an old car not working and green with mold. It is a blue car. It was parked five years ago as I became ill. I purchased brakes back then and feeling better, I put brakes on it. It took a week for what I could have done in six hours. Since then, we made it run, and cleaned it.

Here is my question as it augments to Op's question: We got a letter of record that certain items were "abandonned" by the Trustee. Before I got it running, it was worth about $100.00. With a carb kit and a bit of spiffing up, it could be worth 2K or 3K. I am discharged but not closed. Would this be a problem if found out that I played with the car. We made no lie as my true belief is we would pull it away for scrap metal. 'Hub

[olly7011]

I don't think you will have any issues its not like the trustee has spies in your bushes.....or does he!!!

[BROKENN]

Hey Hub',
According to the link Irprn gave above, the sticky says this:
(1) The filing date is important, and has both legal and administrative significance, as it serves as creation date of your BK estate. The BK estate is made up of all assets and liabilities that you accrued before the filing date and a Bankruptcy Trustee is put in charge of the BK estate. The implication being, any asset you earn AFTER the filing date is outside the BK estate and therefore not part of your bankruptcy and beyond the control of the BK Trustee. (there are some windfall exceptions, but they are few).

So an expense of auto parts after would be enough? I think the timeline saves you

[BROKENN]

Hey Hub',
According to the link Irprn gave above, the sticky says this:
(1) The filing date is important, and has both legal and administrative significance, as it serves as creation date of your BK estate. The BK estate is made up of all assets and liabilities that you accrued before the filing date and a Bankruptcy Trustee is put in charge of the BK estate. The implication being, any asset you earn AFTER the filing date is outside the BK estate and therefore not part of your bankruptcy and beyond the control of the BK Trustee. (there are some windfall exceptions, but they are few).

So an expense of auto parts after would be enough? I think the timeline saves you

[BROKENN]

Hey Hub',
According to the link Irprn gave above, the sticky says this:
(1) The filing date is important, and has both legal and administrative significance, as it serves as creation date of your BK estate. The BK estate is made up of all assets and liabilities that you accrued before the filing date and a Bankruptcy Trustee is put in charge of the BK estate. The implication being, any asset you earn AFTER the filing date is outside the BK estate and therefore not part of your bankruptcy and beyond the control of the BK Trustee. (there are some windfall exceptions, but they are few).

So an expense of auto parts after would be enough? I think the timeline saves you

[BROKENN]

sorry for double post *******mumbles at computer********

[AngelinaCat]

Yeah, the forum was hiccupping big time there for a while.....