trustee chapter 7 assets

[ness]

montana

How does the trustee go about taking the assets?
like horses, vehicles, etc.. do they have a sale on your land or
somewhere else?
We filed chpt 13 last year, and probably going to have to go 7 now, we had unsecured loans, and would like to know who goes after our assets, the credetors or does the trustee?
thanks in advance

[racer72]

A lot depends where you live. In some areas, the items will be turned over to an auction company for disposal. Livestock would most likely be taken to a local livestock auction. Real property is generally sold by sealed bid auctions, potential buyers submit funds to buy the property, the highest bidder wins, everyone else gets their money back. It is possible that all the property could be disposed of by sealed bid. In the area I live, most items are sold through a private auction house. But another BK court only a few counties away sells all assets by sealed bid. It is generally up to the trustee.