Assets sold income?

[dakota112]

Would assets sold 2 months prior to filing CH7, which I couldn't cover with exemptions and worth about 4000 dollars and would be taken by trustee be able to be sold at their current value and used to pay for daily living expenses such as health ins, life ins, food, clothes and most importantly not put me over the median? I am 2000 dollars away from going over the median before filing and don't want to jeopardize this, but my family could really use this money at this time.

[Chowder]

No one can predict what is in a Trustee's mind. Usually you can sell an asset anytime up to filing at FMV then use the proceeds for living expenses, car & home repairs, etc.

[HHM]

No, sale of assets is NOT an income event. You are merely converting an asset into a different form (in this case, cash).