Gearharts buying back wedding ring from bankruptcy for $814

AKRON, Ohio — The bankruptcy trustee for the Kelly Gearhart bankruptcy has requested that the judge allow him to sell Tamara Lowe-Gearhart’s wedding ring back to the Gearharts for $814.10.

According to court paperwork, the jewelry has an approximate value of $3,000 and has no liens, but is subject to a jewelry exemption of $1,450, leaving apparent estate equity of $1,550. But the debtors have offered to pay $814.10, and in fact, have already done so by way of remaining proceeds from a sale of property on Dalton Drive in Wadsworth, Ohio.

Trustee Harold Corzin said in court paperwork that he believes accepting that amount would be better than going through the liquidation process, with its uncertain outcome and the extra expenses.

Anyone with an objection to the sale has until Aug. 3 to file a written request with the court.