I'd advise you to speak to your attorney, but because of the mishandling issue it's not bad to get a second opinion. You have an asset case from what it sounds like and the Trustee is interested in liquidating the land in order to collect monies and pay off your creditors. Typically in these situations these are your choices: (a) Convert to chapter 13 and pay back the amount the Trustee would've made in the sale over a period of 5 yrs. (i.e. the Trustee would make $100,000 from the sale of your property, you convert to chapter 13, keep the property but you make payments to the Court over 5 yrs time to equal $100,000) (b) Pay off the Trustee. Your attorney can negotiate with the Trustee for an amount you can pay in lump sum to him/her or in 2-3 payments. Your case wont be left open for years to come (and that's not what the Trustee wants) if it is handled right.
Answered on Apr 10th, 2012 at 5:55 PM