Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
I would have to agree with your assessment on the "dismiss the case" threat. The fact is two other deadlines have come and gone on the sale of these properties (one 2 years ago and one 1 year ago). I heard the same threat from my attorney in each case and the trustee let it pass both times. I know that they want me to complete the five year plan and I have every intention of doing so. I forgot to mention that I did have a contract on one of these places but the buyer purposefully diminished his money in the bank so that he could get out of the deal by being disqualified on his financing. Do you think that it would be helpful for me to write out a narrative as to our marketing efforts and how it's gone for my attorney to forward to the trustee as the case comes to a conclusion? It would be my hope that the trustee would just abandon the two doublewides and discharge the case. What percentage chance do you think there is of that? One last thing. If the trustee decides he wants to auction the doublewides would it be reasonable to ask they auction just one of them and keep all of the proceeds and then just leave the other one to us. Keep in mind that it looks as though we have a firm deal on the lot of which they will get half.
I sent you a reply. Did you get it? XXXXX XXXXX
The edited version of last night's last question applies to the one I just sent a few minutes ago. Gary
The edited version of last nights question was this: If I finish the 5 yr plan as scheduled and neither of the doublewides have sold and at that point the trustee decided he wants to auction them, would it be plausible to ask that the court auction just one of the two and keep all of the proceeds (instead of just half) and then let us do as we wish with the other. Keep in mind that the lot is under contract and will close soon and they will get half of that money also. I honestly feel that if they want to auction for chump change just for the sake of disposal of property then let it be for one entire one instead of half of two.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).