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  1. #1
    Join Date
    Aug 2013
    Posts
    29

    Default Will a Bankruptcy Trustee Pay for Storage

    My question involves bankruptcy in the state of: Illinois, Cook County, Streamwood

    An order for possession was granted last week for the house I've lived in for over 18 years. I need to be out by end of month. An automatic bankruptcy stay has no effect on a granted order for possession. I'm going to take a few things and move in with a friend in Colorado.

    I have around $40,000 in credit card debt and have been too sick to work for a while now. I'm planning to file for bankruptcy soon, but since I'm busy moving out this month it won't be till next at the earliest.

    My car needs a new engine. I'm planning to sell it to a junkyard this week for $150. A friend has loaned me their SUV until the end of the month.

    I've won a lot of prizes from Amazon Giveaways over the years. I've also purchased new stuff in quantity at significant discounts. I've been making money by selling stuff on eBay and Amazon, but things can sit for years before selling. I have thousands of items, most brand new, sitting around my house. Average MSRP is around $20. I've been trying for some time to find someone to sell them to as a lot without success. I'm planning to donate everything to Goodwill.

    I also have a bunch of old IT equipment that I inherited after replacing it that I've been trying to sell for years. Much of it needs repairs that are not worth paying someone to make. Like a 10mbps microwave transmission system, portable data center air conditioner, drive arrays full of 9 and 18 GB hard drives, etc. I'll probably sell for scrap what I can transport for a couple hundred and leave the heavy stuff for the new owners to deal with. I really can't afford to hire movers and a truck just to get it to a scrapyard.

    Although I don't have time to complete all the chapter 7 forms, I'm wondering if maybe I should fill out the bare minimum and give the trustee the option of cleaning out the house before the new owners move in on the 1st. They will dispose of anything left in the house at that point.

    Would a bankruptcy trustee want to pay to transport and store thousands of items that they can maybe sell someday for $5-$10 each or scrap value? Can they even do so within a week?

  2. #2
    Join Date
    Sep 2010
    Posts
    18,537

    Default Re: Will Bankruptcy Trustee Pay for Storage

    You likely aren't even making minimum wage (if anything) selling things that have an MSRP of $20 (hence probably sell at ebay for less). You owe ebay and paypal fees on the entire remittance including shipping.

    Old IT equipment is worth nothing (as you may be realizing it won't net enough at scrap to convince someone to even take it off your hands).

    Once you move out, the junk you remain is garbage. The owner can discard them. Once the order of possession is valid, he can place your stuff at the curb.

    The trustee is NOT going to pay to store junk just because YOU think it's worth something. You're not getting a trustee for a couple of weeks after you get around to filing anyhow.
    Your stuff is going to be trashed before then.

  3. #3
    Join Date
    Aug 2013
    Posts
    29

    Default Re: Will Bankruptcy Trustee Pay for Storage

    Cool. Thank you. My big concern was getting in trouble for disposing of 99% of my assets for next to nothing a couple weeks before filing for Chapter 7. Don't want to be accused of fraud.

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