I’m sitting at the table before the trustee
and he says to my attorney, “Make me an offer.” What does that mean? My name is Ron Drescher.
I’m an attorney practicing bankruptcy and creditors’ rights in Maryland, Delaware, Pennsylvania,
and Virginia. What that means, is that the trustee thinks that you have assets that can
be sold or part of the assets can be sold to pay something to creditors, even if it’s
a penny on a dollar of their claims, even if it’s half a penny on a dollar in their
claims. A lot of trustees will want to collect that money from you or sell your assets to
open an estate, pay them something, and then pay something over to your creditors. So,
what the trustee is doing is he is saying to your lawyer, make me an offer, maybe a
payment plan, maybe a cash offer, maybe to surrender an asset to the trustee so that
the trustee can administer the assets and move forward in your case. It’s not a good
thing to hear if the trustee says to your lawyer, “Make me an offer.” But it’s helpful
for you to know that that’s what it means. My name is Ron Drescher. I’m an attorney practicing
bankruptcy and creditors’ rights in Maryland, Delaware, Pennsylvania, and Virginia, and
if you have a question about what assets you’re going to be able to keep when you file Chapter 7,
please pick up the phone and call me. I would love to hear from you.