Asset Case - Buying Back NonExempt

[thinking]

First of all, thank you so much to this forum and its members!! It has been much more help/comforting than my law firm. : (

We have had a total of 3-5 341 meetings....it's always something....! What I'd like to know is (if anyone has been thru this...) another meeting is required/be on record for the T to accept settlement/buy back offer....etc..

TIA for any help!

[AngelinaCat]

Hi thinking: welcome to the forum!

We have not had the 3-5 341 meetings, but we were an asset case, and our trustee offered us the opportunity to purchase back our non-exempt items from the BK estate, or if we didn't/couldn't then the items would be offered at public auction. We were given a reasonable amount that needed to be paid each month for a year--which was lower than what the total value of our items came to. As most of these things were some family keepsakes and mementos--not necessarily antiques, but would mean nothing to strangers--we jumped at the chance.

We made the payment every month via money order to the trustee's postal box, and that was that. I also certified and return reiceipted the envelope in order to have the sign green card for our files.

Good luck to you!

[tcreegan]

Hi thinking, and welcome,

To have a 341 continued 3-5 times seems excessive to me....

I can't imagine a buy-back or settlement needing a 341 to be on the record, there should be signed papers for the record.

Not sure what you are going through, but something doesn't seem right, but I was not an asset case, so who knows....

Tom in Colo

[AngelinaCat]

I can't imagine a 3-5 times 341 either. In our case, paperwork came in the mail (and showed up on PACER) from the trustee with the buy-back offer. Once we signed that we accepted the offer, a copy of that went up also.

[thinking]

Hi thinking: welcome to the forum!

We have not had the 3-5 341 meetings, but we were an asset case, and our trustee offered us the opportunity to purchase back our non-exempt items from the BK estate, or if we didn't/couldn't then the items would be offered at public auction. We were given a reasonable amount that needed to be paid each month for a year--which was lower than what the total value of our items came to. As most of these things were some family keepsakes and mementos--not necessarily antiques, but would mean nothing to strangers--we jumped at the chance.

We made the payment every month via money order to the trustee's postal box, and that was that. I also certified and return reiceipted the envelope in order to have the sign green card for our files.

Good luck to you!

Hi thinking, and welcome,

To have a 341 continued 3-5 times seems excessive to me....

I can't imagine a buy-back or settlement needing a 341 to be on the record, there should be signed papers for the record.

Not sure what you are going through, but something doesn't seem right, but I was not an asset case, so who knows....

Tom in Colo

I can't imagine a 3-5 times 341 either. In our case, paperwork came in the mail (and showed up on PACER) from the trustee with the buy-back offer. Once we signed that we accepted the offer, a copy of that went up also.

Thank you for your replies, AngelinaCat and Tom! I know..bit excessive if u ask me. : ( No thanks to u know who....missing requested docs....etc. Unreal N now another 341! Wish it would be as easy of a settlement process as urs, AngelinaCat! Can't wait for this torment to b over.....