We had quite a scare. A letter from the Trustee said he was having an auction and selling the non-exempt property that we offered to buy back for $1200. We thought WTF! “Did you let us make an offer to keep our stuff just as an evil tease?” Our parents gave us the money as Christmas presents so we could keep items that were not on the exempt property list.
Turns out that the auction is a formality. You can come and out-bid us if you want, but our stuff is only worth what we offered, maybe less. I just don’t want the hassle of buying new skis when my six year old skis and 20 year old boots work fine. My wife wants to keep some jewelry her mom gave her a long time ago.
Update: Jan. 14. We went to the Trustee’s office, to see if by chance, someone might be there to out-bid us. There was no one else there. The Trustee said (to no one) “anyone here prepared to make an offer on this auction? No – sold.” And that was that. He said we could have called first, and not had to make the trip. So now he has $1215, and that might be all we have to pay to our creditors.
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