Conditional objection?

[meetsv]

I just received a letter from the trustee stating that she is conditionally objecting to the schedule C of my bankruptcy. Should I be concern? I have nothing out of the ordinary. I got couple tv's, furniture ect.

[justbroke]

Yes, it is a concern because that means the Trustee is attacking one or more of your exemptions. The condition is probably based on an appraisal of the property in question (or a "valuation" of the property in question). It could also be a Trustee that hasn't not done their homework and they are trying to "preserve" their right to object to a claim of exemption. However, the Trustee only has 30 days from the 341 Meeting to object to an exemption.

Have you had your 341 Meeting yet?

I see you're in a Chapter 13, so this could be a "liquidation" test issue. In other words, the Trustee may believe you have more equity and not enough exemption to cover it. If this is the case, then you will have a "minimum" amount that you need to pay to unsecured creditors over the life of the plan. This is known as the Chapter 7 liquidation test. And, again, it just may be something your particular Trustee does while they review the exemptions and assets.

[despritfreya]

OP,

This is your Trustee's standard fair - she does things her own way. Ignore it.

Des.

[justbroke]

Aha! A strange trustee! Thanks Des.

[despritfreya]

Aha! A strange trustee! Thanks Des.

You don't know the half of it with this Trustee.

Des.

[justbroke]

You don't know the half of it with this Trustee.

Well, i now know a small piece. Trust me, it is enough!