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Roger
Roger, Attorney
Category: Bankruptcy Law
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I recv a letter today from the trustee of a chapter 7 case

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I recv a letter today from the trustee of a chapter 7 case stating that he believes that there is equity for creditors and that he should not be bound by debtor's valuation.    In the same letter from the trustee is a order not sign by a judge that states : ordered and decreed that; 1) the trustees objections are sustained; 2) the trustee shallnot be bound by debtor's valuations, and all property of the estate shall remain property of the estate to the extend it has value above the amount of the exemption.                           what does this mean and can I file a objection on what he is basliy this on, or what would be the best thing to do?
Are you the debtor or one of the creditors of the debtor?
Customer: replied 8 years ago.

I'm the debtor

The trustee is basically stating that your valuation of property is not accurate and that all property of the estate should remain there until a more thorough accounting/valuation is performed.

 

You can file an objection by alleging that the valuations are proper. You'll need some sort of evidence as to where you came up with the numbers.

 

The order is a proposed order for the judge to sign in the event that he sides with the trustee or if you don't object to the requested relief.

Customer: replied 8 years ago.
What is the form that I would used to file the object? form F20A or F20B or just a letter in the form that was sent me from the trustee, and I guess I would send that to the court. Plus is their a fee for this, and what time frame to I have to file?

You will have to draft the document yourself - there is no form.

 

No fee.

 

There should be an objection deadline stated on the notice.

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