I have read that you can buy back nonexempt property from the trustee, how does this work?
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In our case, the trustee made us an offer to buy back our non-exempt items. There was a discount and no interest was assessed. We had to pay $450.00 to the trustee for 12 months. This totaled $5,000.00. Since most of our non-exempt items were family heirlooms, we wanted to keep them, so we bought them back from the BK estate.
If we had not accepted the offer, I assume that the trustee would order them seized and then would offer them for sale at auction to strangers. I rather think that the trustee probably got more by having us buy the items back rather than auctioning them."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed." -
At what point does the Trustee tell you he wants paid on the non-exempt items? I was discharged 3 weeks ago (not yet closed) and have not been made an offer for my non-exempt stuff. Does this mean he has abandoned it or just hasn't gotten around to it. We valued it at a total of $850.00Comment
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