One last hurdle before filing - selling vehicle

[ssmdem]

We want to sell my husband's motorcycle prior to filing. The attorney has said it's fine - just document where the money is going. The bulk of it will actually go to her for her fees - in fact, if we don't sell it, I don't know how we're going to come up with all of her fees, not to mention put food on the table for the next couple of months.

The book value on it is $5700. We've currently got it listed for $5500. We had an offer about a month ago for $5000, which we accepted, but then the guy never called back. My question is "how low can we go on this price without it looking fraudulent?' There are several others listed as well at a higher price than ours, so I know we aren't asking too much - people just aren't buying. I just don't want the trustee to look at it as a fraudulent transfer if we go too low.

[BobMango]

I would say you have to go as low as you need to sell it. The key is to get market value for it, and that is what you can actually sell it for, not KBB or BlueBook. I would keep the ads showing how long you've been trying to sell it to back you up if you get any questions. Above all, don't sell it to a friend or family member or you will encourage a whole host of questions from the trustee.

[ssmdem]

Thanks - we're going to knock it down to $4500 and see if that will at least generate some interest.