Buying back Assets

[Dannmcg357]

I plan to buy back my wifes truck as our exemptions fell short of covering the value of it. My options are:
1 Take a small loan from my 401k which I don't want to do
2 Borrow from family, dont want to do this either
3 Payment plan with the trustee.
I don't understand why the Trustee would let you make payments. Suppose I offer 292 for 12 months to buy the asset back. Wouldn't the thinking be if you could afford 292 a mo. that he would want to convert you to a 13?

[Dannmcg357]

BUMP
Let me ask this question another way:
How do I approuch this with the Trustee? Do I wait for him to ask me, and if he doesn't don't worry about it? My 341 is next week, Im a CH7 no assets. Exemptions cover everything but this truck valued around 4-5k.

[Faust]

What does your atty say?

[newbie2]

I always thought this was odd myself also...a friend filed a Chapter 7 and purchased back non-exempt equity in a vehicle. Payment plan to trustee was $224 a month for 8 months.

[Dannmcg357]

When we filed, he said to offer him half, I can call him I guess. I was hoping some one with a similar situation could shed some light on how this works exactly. Like I said, 341 is less than a week away and Im getting anxious and nervous