trustee is taking non-exempt assets- what now

[zodstyle]

Hi, I am so glad to see this forum, I CANT SLEEP. MY name is Melanie in Nebraska.
I am supposed to get a discharge on june 15. The docket shows that the trustee withdrew his no-distribution letter and replaced it with intent to take a house- It is boarded up over all the windows- a no value house I own outright.

What now.???
More importantly, what if the trustee cant find a buyer for it. Will my case ever close?

[justbroke]

Worry more about your discharge than your close. The closing will take time as the Trustee apparently thinks that there is money to be had in that property. Just let the system work its way through. You never know... the Trustee may decide to abandon the property later.

[Beeheery]

OK this is a stupid question, but can trustees NOT take exempt items no matter the value of them? like if something is exempt but has a 1 million dollar value, does that not matter? and do exempt/non-exempt items vary by state? is there a list of what is exempt/non-exempt on here? thanks!

[JRScott]

exemption status depends on state. If the item is exempt regardless of value its exempt.

To the OP, try not to worry. This will not affect our discharge. It will delay closing as the Trustee has the home appraised and prepares to sell it. However there is a chance after an appraisal they may abandon their interest in the home and return it to you.

I assume since it is boarded up your not living in it?

[zodstyle]

Yep I are not living it it. Was a rental to-be but never got fixed up.

So if the discharge comes, you are saying that the gears will work behind the scene with the trustee, that I wont be hassled?

If he cant sell it, he doesnt pester me?

[shabam]

What is it worth?

[justbroke]

So if the discharge comes, you are saying that the gears will work behind the scene with the trustee, that I wont be hassled?

When the discharge comes, the big part of your case is concluded. No more debt!

If he cant sell it, he doesnt pester me?

No the Trustee either sells it and splits the proceeds (his commission and to the Creditors) or abandons it (giving it back to you). The Trustee can't "pester" you about it.

[zodstyle]

Thank you

[eddiep]

OK this is a stupid question, but can trustees NOT take exempt items no matter the value of them? like if something is exempt but has a 1 million dollar value, does that not matter? and do exempt/non-exempt items vary by state? is there a list of what is exempt/non-exempt on here? thanks!

No that is not a stupid question! I know there is a link here somewhere but I can't find it. do a google search, The exemptions are different for every state. Some state are very generous in what you can keep others are not. And I believe there is always a dollar amount attached to the asset. Like you can exempt one vehicle up to $3000, household items up to $5000 etc. So if you own something worth 1 million dollars kiss it goodbye!