I was just wondering if a person would file a chapter 7 instead of a chapter 13 - would the trustee take their home,, if it was completely paid for. IE: $35000 appraised real estate, VS $30000 allowed exemption. Any ideas?
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Date filed: 06/24/2009
341 Meeting: 07/27/2009
Plan confirmed: 10/14/2009
$340.00 per month @ 60 months
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You would need to check with local BK attorney's in your area to see how the Trustee's are functioning in your district. From a logical (
) point of view, it would not make any sense to go after your homestead as there are costs incurred when selling - fees to govt, title, realtor etc. But, remember, the Trustee does not always do what appears to be logical - and there are wide variances from district to district.
The shorter route to the same end would be to have the debtor (you) pay into the BK estate the difference in value. Bring up the senerio with your attorney and find out how the Trustee's are likely to handle this situation in your area. Good luck!Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..
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