On Sale Soon: Trust Beneficiary with Annual Payments of $3,345.36 Per Year!

Item Id: McKay01
Case Name: McKay, N Bruce & Linda A
Case Number: 13 21473
Starting Minimum Bid: $5,000

Description: The Debtor/Estate are recipients of a beneficiary Trust administered throught JP Morgan Chase. The Trust provides for quarterly payments of $836.34 for an annual total of $3,345.46.

One unsecured claim filed in the amount of $31,923.28. The Trustee negotiated an interim distribution in April 2018 and paid the creditor $11,578.79.

As a result, the balance now due on the Trust is $20,344.69, exclusive of interest if the Trust becomes a 100% distribution. The Trust and payments continue until the death of the recipient/debtor who is now 80 years old

Past and current payments from the Trust have been made directly to the Bankruptcy Estate. Once the trust is sold and after the highest bid amount has been paid by certified funds to BKassets.com, any future payments will be redirected to the new owner of the trust. There shall be no claim by the buyer to any prior payments received by the Trustee in any circumstance.

Liens: We are not aware of any other liens