Sent my last payment in for Chap 7 buyback!

[ellis2156]

I have just mailed my last check for my Chap 7 buyback, I was discharged in April 2013! So, now I have to wait for the letter of closure! I'm almost there!

[spidge]

Good for you. Hope all goes well.

[joshuagraham]

For my case, the trustee wanted me to pay $X to buy my stuff back, to which I negotiated down to $Y, and sent a check in that amount, thinking that I had just bought my stuff. It turned out that I had just put in a "bid" for my stuff at the auction that the BK judge did at the court. Fortunately, no one was there to bid on my stuff, so I got to buy it all back.

[TXskyblue]

For my case, the trustee wanted me to pay $X to buy my stuff back, to which I negotiated down to $Y, and sent a check in that amount, thinking that I had just bought my stuff. It turned out that I had just put in a "bid" for my stuff at the auction that the BK judge did at the court. Fortunately, no one was there to bid on my stuff, so I got to buy it all back.

How does that work, exactly? Is there an actual auction somewhere that anyone can attend, or is it posted online? I've heard about this, but I don't understand how it actually works.