objection to discharge

[iuunc2003]

long story short...buisness assets were not transfered from my wife and I to our company (bank screwed up) and we filed a 7 in Jan...Bank is objecting to this to try to get permission to go after the assets by filing a objection. This is freaking me out... the trustee is objecting to their objection along with our lawyer. When the trustee sides with us does this give it a better chance that we will succeed or does this have no bearing on the hearing. The filed a lawsuit against the company and my wife and in jan...Thanks for your respones

[HHM]

Well, if the trustee is opposing the banks motion, then that probably means the trustee wants the assets.

[iuunc2003]

The assets fall under the exemption law for the state of wi...so he cant take them anyway, they were appraised at 29,000 and the law is 30,000. So he is his objection a help to us?

[StartingOver08]

Were the assets actually exempted in your petition?

[iuunc2003]

yes they were exempted in the petition. We used Wi exemptions in petition along with money we owe department of revenue. Our lawyer says he has never seen a case like this in 30 years of BK practice that a bank screwed up this bad. Is the trustee on our side...I know BK protects the debtor and puts burden of proof on creditor so I need some help

[StartingOver08]

NO, the Trustee is not on your side. The Trustee represents the creditors.

[iuunc2003]

And even if the trustee wants the assets valued at 29,000 (liquidation) buisness in use 100,000 we have unsecured creditors of 725,000, the bank would get about 15,000 and we offered them 20,000...is all this song and dance really required? Why wouldnt they just have taken the 20,000? Do i let this play out in court or contact them for a settlement? Thanks for your response.

[iuunc2003]

I actually checked Pacer last night and printed their objection and the trustees, they want a court to lift the stay so they can proceed in county court, or they want us to start making payments to them. They claim if this is not done they will be harmed...the trustees objection has to with modvar I think that is the word what the heck does that mean?