Question: Chap.7 Liquidation
I'm filing a chapter 7, petition in Los Angeles and i'd like to get an idea of how much of my property a trustee is likely to take in his attempt to get some money out of it. most of my property is worthless junk that could never be sold. are the following items vulnerable? my car old clothes old second hand computer several old, small motorcycles that are rotting in the back yard boxes full of old books i also have another old car in my posession but i never formally tranfered ownership to my name, although i do have the pink slip my garage is full of various and sundry shit like rusty tools, plumbing hardware, old electronic stuff, building materials, etc. do trustees have authority or inclination to do any real investigation into my property?
Answer:
It is unlikely that the trustee would be interested in such items, since you will probably exempt them anyway. I'd strongly recommend discussing this issue with your attorney; he or she knows the trustees and can tell you far better than I what they're likely to or not to do.
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