Re: Re: Re: what % to trustee

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Posted by: Ken on 07/30/03:

In Reply to: Re: Re: what % to trustee posted by: jimmi on July 30, 2003 at 20:32:53:

: : : Anybody know what is the usual settlement with trustee, expressed as a %, of value of assets that are not exempt? If you had $500 after all exemptions, is there any wiggle room with trustee or do they demand all? Thanks Jimmi
: : -----------------
: : In general, exempt assets are yours and non-exempt assets are toast. The $500 would probably depend on whether or not it was easy to get. If the Trustee has to sell a Pokemon card collection card by card to get it, you'd probably keep it. If it's cash, it's probably gone. If it's cash, though, why is it still sitting there?
: No cash( Iam not totally wacked)but there is some furniture. I did not know how they handle this type of thing. Do they make me sell it or would they come and take it away ? I really can not see them going to the expense of coming to get it. Thanks
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If the Trustee wants it, the Trustee sells it. He's not going to come for furniture. But you're probably estimating too high. Garage sale prices, not new or replacement prices. $150 for a living room suite, $50 for a D/R table, you get the idea.

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Comments:
: : : : Anybody know what is the usual settlement with trustee, expressed as a %, of value of assets that are not exempt? If you had $500 after all exemptions, is there any wiggle room with trustee or do they demand all?  Thanks  Jimmi

: : : -----------------

: : : In general, exempt assets are yours and non-exempt assets are toast.  The $500 would probably depend on whether or not it was easy to get.  If the Trustee has to sell a Pokemon card collection card by card to get it, you'd probably keep it.  If it's cash, it's probably gone.  If it's cash, though, why is it still sitting there?

: : No cash( Iam not totally wacked)but there is some furniture. I did not know how they handle this type of thing. Do they make me sell it or would they come and take it away ? I really can not see them going to the expense of coming to get it. Thanks

: -----------------------------

: If the Trustee wants it, the Trustee sells it.  He's not going to come for furniture.  But you're probably estimating too high.  Garage sale prices, not new or replacement prices.  $150 for a living room suite, $50 for a D/R table, you get the idea.




 
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