Advised to sell property?

[tightgrip]

So yesterday my husband and I went to our first consultation and it went very smooth. Liked the guy and he answered all our questions we had. So we went ahead and put down $500 dollars. We were advised to quite paying our ccs and all our secured debt items we didn't intend on keeping. We own two things one an old car which we plan to keep thats not worth our 10,000 exemption and the other an enclosed trailer for hauling stuff. The sale price brand new in 98 was 2200. He advised us to sell the trailer. We plan on filing in 4-5 months. I have read about not selling or transferring property because of fraud? But he said as long as you sell it for what its value is it should be ok? Is this right? What if my husbands parents want to buy it off of us? Is that going to raise a flag going into family members names or is that more towards the tranferring?

[AngelinaCatHub]

I can't believe an '98 trailer that was 2200 12 years ago would interest the Trustee. The car as well. Selling to relatives does get attention even if you sell it for fair price. Trustee has seen too many fake sales to relatives in which the property stays with the bker. I would not do a thing with that old trailer. My opinion. 'Hub

[tightgrip]

That was the only thing at our consultation that was confusing to us? We have been reading and reading and it says to not sell property and then for our attorney to ask us to sell it we were a little confused by the advice? So if we decided to just keep the trailer . . in your opinion . . even if say the trustee would want it. Would that make it an asset case or could he actually offer for us to keep it and buy it back? Im not really familiar with the whole asset case thing?

[frogger]

I wouldn't be selling anything at this time if at all possible. If you do choose to sell it, sell it outside the family in an arms-length transaction.

And, sell it for close to fair market value.