Selling car before discharge?

[buzzstpoint]

Untimely but may need to do..

I've been trying to sell my truck for about a year now. So far nothing..
This weekend someone came by and they want to purchase my truck. "Rusty but Trusty"

My car I use just broke the other day. The repairs will basically be more then what should be put into this car to fix it. (Transmission is broke) Exempted for 1600 (but should be lower but Kbb doesn't list Poor condition) , repairs estimated at 1600-2000.

All my vehicles are exempt, I exempted my truck for 1400.
I'm not totally sure the truck will sell, but they are suppose to come by Monday evening to buy it for less then the exempted amount.

Is is a problem doing this before my discharge? (60 on the 17th)
The trustee put in No distribution/ no asset case one day after my 341.
Should I call him and OK it?

[AngelinaCatHub]

If you are putting the money into the repair of another car, I would doubt the Trustee would care. Even the cash may be exempted, not knowing your state exemptions. You could bother your Trustee if you wish, but it is such a small amount, other than being courteous in asking, he isn't going to care. 'Hub

[buzzstpoint]

Ok, Thanks Hub,

I'd have to check it, but I know I didn't even come close to the depository accounts figure. As for cash on hand value, i didn't look that one up as we don't have cash on hand.

[AngelinaCat]

Des gave a good reply to another poster regarding the sale of a piece of property. And while real estate and a vehicle are totally different things, the underlying principle is the same, I would think. That is the property has to be 'abandoned' from the BK estate before the debtor can sell it. In your case, your vehicles are exempt from the estate, therefore I would think you can sell the truck.

Here is the link to the question and Des' response: http://www.bkforum.com/showthread.ph...ndered-in-BK-7

If I am mistaken, I am sure that Des will set me straight.

Good luck to you!