Trustee going after my engagement ring AND tax return - UGH

[Flamingo]

She was stone cold and NOT in a good mood. She never smiled once and she was just so negative to everyone. My attorney's office made a mistake on my assets too and this pissed her off as well. She was like - amend it immediately.
She also said she wants to see my tax return (which is going to be negative this year due to my husband cashing out his 401K in order for us to buy our house). I told her that there wouldn't be a refund but apparently she didn't believe me. I'm also worried now b/c even though my husband cashed out the 401K outside the 6 month look back period, I don't think I listed it as income for him in 2007. Ugh - one more thing to worry about. I'm going to talk to my atty about that when she gets back from vacation after Xmas. (Snip...)

I am sorry you encountered this situation but not too many people are ready for what they may encounter at these meetings. Not too many people encounter a Trustee everyday. I work in the legal world and know how cut and dry it is in situations where emotions just do not come into play. While you are sitting there going through a major horror in your life, your case is just another situation to her to be resolved. That's all. It's the legal and judicial system. While you sit there and may be ready to burst into tears they have been through it thousands of times before and nothing bothers them. The best thing to do in any situatoin like that is just to answer "yes," "no" and be respectful and not be very emotional. Also, remember the ring is just that - a ring. It is a material object.

Don't worry - your attorney's office has dealt with her before and will take care of the mistake in your assets. I am sure the Trustee and your attorney are on a first name basis as most are. As long as you and your attorney's office complies with her requests, all will be fine.

[CindyLou]

when you get it appraised be sure and tell the appraiser the reason for the appraisal!!! I know when I got mine done for insurance, my jeweler put a little "extra" on there for me as a favor, which he told me when I picked it up.

If you tell them the reason then maybe they won't try to help you out by making it higher. I also agree with being truthful during BK, but I also draw the line at an engagement ring....unless its worth 30,000 or something crazy. But just a regular engagement ring, I think should be left alone!!

[Bandit]

I let them bluff and bluffed back and it paid off. Your tendency in BK is to panic, think things through, evcercise some sort of mental patience, it is HARD to do but the Trustee can be cold as ice. Try to step outside yourself and be objective in your case. Remember Oliver Twist (the musical), Fagan had two great lines for everything that life threw at him, "I am reviewing the situation" and "I think I better think it out again". Remember that in your case Bill Sikes (the Trustee) is on the other side "Take a tip from Ol' Bill Sikes you've got to pick a pocket or two". Trustee's use little guys to pay light bills and keep paper in the copy machine. For some reason in my years in this Forum the vast majority of female Trustee's seem to have a cold brutality that is not always visible in their male counterparts.

If they take anything the creditors see damned little of it.

That is a great post!

[Bandit]

My rings were all stolen when my house was robbed as was just about everything else like that, that had any value & it was never replaced with an insurance claim, being over 17 years now.
That bothered me at first because of the invasion & not so much they were taken. Then I realized it could have been my finger or whole hand that was taken. That is about all the Trustee is going to get from me....my hand or a finger & hopefully not my middle finger.

[robivi3]

She may take the ring. Think twice before you agree to monetary payment. They may threaten to come and take furniture clothes. It costs the Trustee about $400 flat to have a company come and haul stuff away. Threy still get their 400 if they refuse to take it, which is common. Used furniture and clothes are just that, used. The Trustee still runs a risk when they come to take things.

I let them bluff and bluffed back and it paid off. Your tendency in BK is to panic, think things through, evcercise some sort of mental patience, it is HARD to do but the Trustee can be cold as ice. Try to step outside yourself and be objective in your case. Remember Oliver Twist (the musical), Fagan had two great lines for everything that life threw at him, "I am reviewing the situation" and "I think I better think it out again". Remember that in your case Bill Sikes (the Trustee) is on the other side "Take a tip from Ol' Bill Sikes you've got to pick a pocket or two". Trustee's use little guys to pay light bills and keep paper in the copy machine. For some reason in my years in this Forum the vast majority of female Trustee's seem to have a cold brutality that is not always visible in their male counterparts.

If they take anything the creditors see damned little of it.

[monkatom]

Now you have me worried as we are afraid of losing wifes engagement ring. paid cash about 7 years ago but did have it appraised a year ago but it is not on the insurance so not sure if i can do the I lost it route. Problem is we paid 4500 but appraisal came back at 24K not sure why it was so high. Called a local pawn shop and they will not give me a price but want me to name my price then they will see if they want to pay that much, etc so I think i will need to shop around.

[Carlysmom]

I worried about my engagement ring too. Luckily when the trustee looked at it I showed that my wedding band and engagement ring were made into 1 ring (although they CAN come apart) I didn't offer that info. I believe that wedding bands are protected but not engagement rings, is there a way to make the eng and band 1 ring?

Good luck and I hope it all works out for you!

[$$only4ever]

Div,

I found the previous posting from you concerning your engagement ring:

http://www.bkforum.com/showthread.php?t=13604

The appraisal is alot higher than the personal excemption allowed in Florida. I would definitely discuss this with your attorney. This could be a potential problem. Based on your previous thread, the trustee may seize it due to the value. I really hope that everything works out for you.

[FreshLikeADaisy]

I hear you on the "losing" thing but I was so scared to do that. I didn't want to jeopardize my whole bankruptcy for a lousy ring. It's just not worth the stress to me. Plus, I have the ring insured so I knew there'd be a paper trail.

You know, if you have the ring insured, the insurance declaration page should be enough for the trustee (unless you insured it for a great deal more than its replacement value). This may save you the cost of an appraisal.

[DivorceRuinedMe]

I hear you on the "losing" thing but I was so scared to do that. I didn't want to jeopardize my whole bankruptcy for a lousy ring. It's just not worth the stress to me. Plus, I have the ring insured so I knew there'd be a paper trail.

[chpxiii]

I've hesitated aboout posting to this thread. I think I've been pretty consistent about encouraging people to be upfront and honest in their filings but, I just draw the line with something personal like engagement rings and family heirlooms. Creditors and trustees have no business taking those.
Me, that ring would have been "lost" long ago.

Yes. For anyone who is considering filing, things like engagement ring, wedding bands, stuff like this... they are easily "lost."

[keepmine]

I've hesitated aboout posting to this thread. I think I've been pretty consistent about encouraging people to be upfront and honest in their filings but, I just draw the line with something personal like engagement rings and family heirlooms. Creditors and trustees have no business taking those.
Me, that ring would have been "lost" long ago.

[MomIcantFindmy]

I am sorry this happened to you. I agree with 4ever, I think the trustee may have been flexing muscle to see if anything else was going to come out. Hence the audit. I would not worry too much about it and you are right to call your attorney after the holidays.

At least the hard part (341) is over. Take a deep breath and try to relax. We all are with you.

[$$only4ever]

Sorry, Div that the trustee put you through the paces. It seems like filers either get a fair trustee or an evil one. Just luck of the draw, I guess.

My attorney advised me to list the ring but not wear it to the 341 meeting, which I did. I just subsituted it with a zircona cubic ring for the meeting. Nothing was ever said.

I know this is upsetting. Try to stay as calm as you can. It might be nothing more than the trustee flexing her muscle. Unfortunately, some are on a ego trip. Good luck!

[FreshLikeADaisy]

BKcrazy, I couldn't remember how much the appraisal fees were (it's been quite some time since I had anything worth appraising!) but I knew they were not cheap. $150 to appease a trustee's curiosity is insane. If I had that kind of cash to spend on a whim at the end of the day, I wouldn't be in bk court. A professional estimate should be fine, like the one you got from your cousin, and if the trustee wants more she can at least request it in writing. DRM's already getting audited; what more do they want? Sheesh.