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    ? about jewelry

    I have a small wedding set, easily within the exemptions at "pawn shop value" (NH exemption is $500). I also have a set of diamond earrings that my hubby got as a family heirloom and gave me for Mothers day last year. They are not necessarily valuable, I think they appraised at $800 when we got them valued last year; I more don't want to lose them because they were passed down to us. My concern is that we might lose the earrings. I didn't mention them to the lawyer, I actually made a point of NOT wearing them or mentioning them. Of course this is making me extremely nervous, having something "not listed". My question is, does anyone know if the NH exemptions are doubled when filing jointly? My hubby's wedding ring was $100 brand new, my set would probably resell for less than $400 (the diamond appraised at $1200 over 5 years ago, the band is very simple), and with the appraisal of the earrings I'm guessing pawn shop value at less than $500. Do you think we could make it fit in the $1000 if we are able to double the exemption?

    Do you think we should just list the earrings and HOPE they don't ask us to sell them (or pay the value)? I am afraid I'll look like I'm lying at the 341 when they ask if we're hiding anything (since we kinda would be, even though it's nothing huge).

    Any advice or opinions would be great! We didn't file yet, so I can still add them if we "should".

    Thanks!
    Last edited by cj0203; 03-11-2008, 07:18 AM.
    CJ
    341 on 8/3, determined NO ASSET
    60 day wait was over on 10/3/08. Discharged 12/23/08

    #2
    I don't think you have anything to worry about the earrings.
    Sometimes people forget to report things. I forgot to report some small things like coins and such. But they would have been covered anyway, in our case.
    Your exemptions may cover them. Don't forget they are not worth nearly as much as the appraised value. Usually the appraised value is much higher than the real value.
    Last edited by PaKettle; 03-11-2008, 10:30 AM.
    <<I am NOT an attorney, my comments are anecdotal only. Contact an attorney for advice>>
    FINALLY DISCHARGED 92 DAYS AFTER THE 341! A NEW START!!!

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      #3
      Filed: 03/31/08 341: 05/15/08 Discharge: 07/15/08
      Do yourself a favor. Check everything I say with a bankruptcy attorney. Most attorneys will even provide a free initial consultation. In fact, it's your life, so check everything anyone says (including your attorney) for yourself!

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        #4
        Thanks guys. I won't worry about them then. I am almost positive they'd be covered by exemptions anyways.
        CJ
        341 on 8/3, determined NO ASSET
        60 day wait was over on 10/3/08. Discharged 12/23/08

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