Home -> Law Blog Directory -> Bankruptcy Blogs -> Arizona Bankruptcy Attorney Blog

Bankruptcy

: Arizona Bankruptcy Attorney Blog

bkassets.com is a Site Used to Sell Your Stuff! If You File a Bankruptcy, That Is!

By Joseph McDaniel, Esq.

How does a bankruptcy trustee in a Chapter 7 Case in the District of Arizona sell stuff that is not exempt, and not worthless, and not over-encumbered?

Note: don't panic. As I've pointed out often, the vast majority of cases are "no-asset" cases, where the trustee does not take away any of your stuff!

But in some cases that have to be filed quickly, or cases that have been prepared by non-lawyers (who can't give legal advice, and so are really typing services) or bankruptcy mills, or bankruptcy beginners, there may be a lot of non-exempt assets. Those cases provide grist (and stuff!) for bankruptcy sales.

I've talked previously about the auctions held by trustees at the Bankruptcy Court in hearing rooms, where debtors and bidders are clustered around a speakerphone, and other participants listen in, and everybody plays "Let's Make a Bid!"

But there's another bankruptcy sales approach: a site used by trustees in Arizona where the asset is...a little strange.

Take a look, browse, and enjoy.

The site is called bkassets.com, and if you wander through it, you'll see interesting things being sold by trustees from all over, and including bankruptcy sales from Phoenix, Scottsdale, Mesa, Tempe and Chandler. And, of course, Casa Grande!

Full post as published by Arizona Bankruptcy Attorney Blog on December 14, 2010 (boomark / email).