Thank you to all the bankruptcy trustees, attorneys, assistants, and exhibitors for a wonderful weekend conference in beautiful Amelia Island, Florida.  Focusing on incorporating technology into the daily practices in bankruptcy case administration made for interesting and engaging meetings.  We will have pictures from the conference up shortly on our facebook page (www.facebook.com/bkassets).

If you saw us at the conference and have questions, comments or would like to request materials regarding bankruptcy auctions on www.bkassets.com  or the educational materials from our presentation, please feel free to contact us here and we’d be happy to help.

With all the information the internet offers, it’s often difficult to find the particular item that your heart desires, especially if you’re looking for a steep discount.  We wanted to introduce our friends, fans, buyers, as well as our trustees and their staff to www.bankruptcysales.com.  Bankruptcysales.com is a bit like a Craigslist, but the listings are all bankruptcy assets or bankruptcy related assets. Listings are restricted to paid account holders, such as bankruptcy trustees, their agents, debtors in possession, or others having the authority to sell such assets by the appropriate U.S. Bankruptcy Court. However, any buyer can peruse the listings for free!

Bankruptcysales.com is hosted by the American Bankruptcy Institute (ABI) in cooperation with the National Association of Bankruptcy Trustees (NABT). With categories such as: Farm-Related Assets, Financial, Going Concern Businesses & Operating Licenses, Intellectual Property, and Inventory; it’s a great place to find interesting and unique investments and liquidation prices.  Like many other bankruptcy professionals, BKassets.com lists every timeshare, lot, real estate holding, piece of jewelry, and every other bankruptcy asset we liquidate on this site.

NEWTON, Mass. — May 3, 2011 /PRNewswire/ — TripAdvisor®, the world’s largest travel site*, today announced the winners of its 2011 Travelers’ Choice® Destinations awards. In its third year of the awards, TripAdvisor has honored 337 outstanding destinations across the globe. In addition to the top 25 in the world overall, top 25 lists have been named for the United States, Europe, the Caribbean & Mexico, Central & South America, Asia, India, South Pacific, Canada, Africa, United Kingdom, France, Italy, Germany and Spain.

Travelers’ Choice Destinations awards honor top travel spots worldwide based on millions of real and unbiased opinions from TripAdvisor travelers. Award winners were determined based on a combination of travelers’ favorite places and overall destination popularity.

“Millions of TripAdvisor travelers around the globe have helped identify the world’s top travel spots,” said Barbara Messing, chief marketing officer for TripAdvisor. “The Travelers’ Choice Destinations awards not only recognize some of the most beloved travel destinations worldwide, but serve as inspiration for millions of travelers looking to plan their next trip.”

2011 Travelers’ Choice World Destinations:

1. Cape Town, South Africa
2. Sydney, Australia
3. Machu Picchu, Peru
4. Paris, France
5. Rio de Janeiro, Brazil
6. New York City, United States
7. Rome, Italy
8. London, United Kingdom
9. Barcelona, Spain
10. Hong Kong, China

2011 Travelers’ Choice U.S. Destinations:

1. New York City, New York
2. Honolulu, Hawaii – CLICK HERE for Bkassets.com Hawaii Timeshares!
3. San Francisco, California
4. Las Vegas, Nevada
5. Lahaina, Hawaii – CLICK HERE for Bkassets.com Hawaii Timeshares!
6. Kailua-Kona, Hawaii – CLICK HERE for Bkassets.com Hawaii Timeshares!
7. New Orleans, Louisiana
8. San Diego, California CLICK HERE for Worldmark Points on Bkassets.com!
9. Sedona, Arizona
10. Seattle, Washington - CLICK HERE for Worldmark Points on Bkassets.com!

For the complete 2011 Travelers’ Choice Destinations lists, sponsored by Audi, go to www.tripadvisor.com/TCDestinations.

Myth: A debtor exemption makes purchasing a bankruptcy asset more complicated or impossible.

Every person that files for bankruptcy or has a judgment awarded against them in a lawsuit is entitled to certain property exemptions, or the value of the property the debtor may retain. Exemptions are determined by the state law where the person resides. For homeowners, the most important would be the homestead exemption which can be used to protect a home from a forced sale. However, some states, like Nevada, include a wildcard, or a predetermined amount that can be applied to any asset in their case.

The most commonly misunderstood rule of exemptions is that the exemption applies to only the value or equity of an asset, not necessarily the asset itself.  For example, a debtor in Nevada may elect to apply their $1,000 exemption to a parcel of vacant land in their possession.  This does not mean the debtor will automatically retain the land itself; rather, the debtor retains a right to $1,000 of the equity of the land. The US Bankruptcy Court appointed Bankruptcy Trustee can sell the land at auction, and pay the exemption out of the proceeds.  Thus, if our hypothetical parcel sold for $5,500, the debtor would receive $1,000 and $4,500 would go to the bankruptcy estate to be divided amongst the creditors.  Trustees often use the debtor exemption as a minimum amount to start bidding on a bankruptcy asset.  Bidding on the hypothetical parcel of land may have started at $2,000–$1,000 to cover the debtor’s exemptions and $1,000 for the bankruptcy estate.

Exemptions differ by Region, District, and State.  The exemptions of the state where the bankruptcy was filed usually apply, however in certain circumstances, other exemptions may apply. Review the bankruptcy code here.

Congratulations to Trustee Brian Shapiro of Las Vegas, Nevada, winner of the Bkassets.com 2010 Fall NABT Convention iPad raffle!

Stop by our both at the 2010 Winter ABI Conference in Scottsdale, Arizona, or the 2011 Spring NABT Conference in Santa Monica, California for your chance to win another great prize!

Visit the NABT website at www.nabt.com

Visit the ABI website at www.abiworld.org

Socially Responsible Investment (SRI) Funds are all the rage these days with the green movement flowing strong. Everyone is worried about social responsibility and some are capitalizing on it.

So what exactly is a SRI?

Well, according to investopedia..

An investment that is considered socially responsible because of the nature of the business the company conducts. Common themes for socially responsible investments include avoiding investment in companies that produce or sell addictive substances (like alcohol, gambling and tobacco) and seeking out companies engaged in environmental sustainability and alternative energy/clean technology efforts. Socially responsible investments can be made in individual companies or through a socially conscious mutual fund or exchange-traded fund (ETF).

So SRI’s are just stocks or investments in companies that are socially responsible and/or green.

Do SRI’s Deliver Superior Returns?

Not exactly. Read more about Paul Hawken’s Winning Investment Strategy to learn more why SRI’s don’t deliver superior returns and how you can build a more successful portfolio.

There’s no secret that the economy is the pits and reputation is everything especially when it comes to financial institutions, a new report from Forrester Research shows that America’s biggest banks are the least trusted banks in the country.

Forrester asked approximately 4,500 people if they agree with the following statement: “My financial provider does what’s best for me, not just its own bottom line.” Ranking 50 financial services firms across the United States, some of the largest firms were the least trusted.

With the percentage of respondents who agreed with that statement ranging between 33% and 16%, the bottom seven of this year’s rankings were, in order, Bank of America, Chase, Capital One, TD/Commerce, Fifth Third, Citibank and, at the very, very bottom, HSBC.

This has been the case for the past seven years and things don’t look like their getting any better.

Read more at WalletPop.

Deeds can be daunting!

With several different types of deeds transferring property can be confusing. So to clear up some of the confusion here is a great video that explains some of the types of deeds you may run into while participating in our auctions.

Photo Courtesy of The Red Cross

Wyndham Rewards members can now use their points to support Haiti Relief efforts. The Charitable Donation Rewards program from Wyndham allows members to donate their points toward gift cards for the cause of their choice.

Over 100 national charities are participating and right now everything in the ‘Disaster Relief’ category will go to the Haiti Relief effort. Charities in this category include: American Red Cross, AmeriCares, International Federation of Red Cross and Red Crescent Societies and Magen David Adom.

Check out our current auctions for Wyndham Points!

With the power of the internet, business opportunities are opening up left and right. One of the fastest growing home-based businesses involves selling items online. Many big names like Google and Yahoo allow you to create virtual store fronts and big name etailers like Amazon.com and Overstock.com allow individuals to sell products on their sites taking advantage of the following they’ve already built with their brands. You can even take advantage of the hundreds of auction sites like eBay and OnlineAuction.com to sell your items.

These companies spend millions of dollars each quarter on market research and branding campaigns. These guys are recognized and trusted; all you need to do is hop i and take part in the success they’ve already built for you. How much easier can it get?

How nice would it be to roll out of bed on your terms and work in your pajamas all day at home while you watch your little ones or take of your ailing parents? Maybe you just need to make a bit extra each month to help support your golf habit or save for that vacation. Anyone can start their own online business selling products.

But where do I get inventory?

A great place to buy large lots of items is through bankruptcy asset sales. Many times companies file for bankruptcy and their inventory is seized. This inventory is then appraised and sold at auction to help pay back the creditors that were never paid by the debtor. These items must be liquidated and you can benefit!

More often then not, items sold in bankruptcy auctions sell for pennies on the dollar even compared to wholesale prices. Most people don’t realize that items are sold out of bankruptcy and for the savvy investor or business owner; this can be a prime opportunity to cash in and restock their stores or invest in brand new business ideas.

Check out the current inventory available!

Read our listings carefully, all of the sales on BKAssets.com are sold “as is, where is”. What the heck does that mean!?

“As is” is a legal phrase, used when something is to be sold “in its/their actual current condition”. In other words, the seller does not claim that the item is in perfect or working condition, and the buyer accepts any faults it may have; there are no guarantees or warranties, or returns. (A similar phrase is “to be sold as seen”, meaning “It’s up to the buyer to look at it and judge how ropey it is”.) “Where is”, means that it’s up to the buyer to remove the goods from wherever they are currently stored at his/her own cost; delivery is not included in the deal. (VSD)

Bankruptcy sales are all “as is, where is” sales. This is why due diligence on the part of the bidder in bankruptcy auctions is crucial. Make sure you know what you’re getting into when bidding on our assets. We want to provide you with a great experience and a great deal. We want to build a lasting relationship with you and we don’t want you to get swindled. We love to hear from you and answer your questions as best we can. In most cases we’ll go above and beyond to provide you with stellar customer service, we just ask that you meet us halfway and research your asset before you bid!