Can I Sell Anything ?

[opus007]

I have not filed as of yet but have retained a lawyer.Can I sell any items I purcased in the past with a credit card as I need to come up with the money to finish paying the lawyer?

[ameliabedilia]

It depends on what it is- no big ticket items for sure without talking to your attorney. We sold lots of stuff on craigslist before we filed- bose headphones, some used furniture. Nothing anyone could track.

[soleprop]

excellent to know. i'm maybe doing a yardsale this weekend; no big items, but maybe two gifted guitars and a pile of assorted junk. i didn't want to get reamed for it later though. thanks for the feedback!

[hnhlvr]

Craig's list is your BEST FRIEND at this time! We've sold off a lot of small stuff and it's nice for the light cash but also aids in decluttering the house.

[opus007]

The reason I asked is because I do not have the full amount for the lawyer and only gave them a 3rd of the fee.The only things I have worth selling are items bought with credit cards.But if I can not sell anything, as legally I do not own them I am stuck in a rut.I used my stimulus check for the lawyer.Also when you list assests and since I legally do not own tv, stereo ect...are these really assests?Hmmm very confusing.

[keepmine]

The reason I asked is because I do not have the full amount for the lawyer and only gave them a 3rd of the fee.The only things I have worth selling are items bought with credit cards.But if I can not sell anything, as legally I do not own them I am stuck in a rut.I used my stimulus check for the lawyer.Also when you list assests and since I legally do not own tv, stereo ect...are these really assests?Hmmm very confusing.

Unless it's a store branded card like a Best Buy or Home Depot {who may hold a security interest}, it's all unsecured debt and you can do anything you please with whatever you purchased.

[opus007]

I bought a stereo system with 3 different credit cards . All unsecured cards and not circuit city or BB,or dell cards.So what you are saying is I can sell these items.And will I have to report that on my bk when asked did I sell anything or do they ask that.thanks.

[opus007]

Could I get some more opinions on this.Thanks

[epiphany]

Yes you can sell anything you purchased unsecured. But be careful cause yes, you will be asked if you have sold anything of value---however it may be acceptable if the funds were used to pay your lawyer.

Why don't you call your attorney and ask for his take?

ep

[momof2furbies]

I used my stimulus check for the lawyer.

Guess I wasn't the only one - It wasn't easy to get that check on a Friday and write my attorney the check for almost the same amount the following Monday. Guess it was put to good use

[danaf]

When selling second hand items, everyone knows you take a huge loss given what you paid. I don't really see the issue here. It isn't like you are selling real property - it's a stereo. Yeah - the trustee will want to know if you've sold real property (ie real estate) or vehicles ect. But they don't care about a stereo. I was not asked at my 341 if I sold any personal property. I say sell it if you want. Plus it will be one less item you have to exempt.

[soleprop]

i've been yardsaling. i made $165 at the last one, and i bought a $100 vaccuum, and a tank of gas. i like to think of it as getting a bigger house (emptying it) and trading up in my exempt assets.

also danaf is right - less pesky junk to feel obligated to list out in exemptions.

[lillaimof2kids]

Selling big items depends on how close you are to the median income. We were FAR FAR below, like $40,000. So we sold part of our business before we filed and profitted about $4500. We spent all of it on necessary items, like food, catching up on bills, new shoes and clothes for kids, new gutters for our house, etc. The trustee questioned about the sell of part of the business, I told him the truth and he didn't bat an eye, just went on to the next question.

Now if it's totally cash, like having a yard sale, just don't deposit it.

[soleprop]

Now if it's totally cash, like having a yard sale, just don't deposit it.

werd. it feels weird having cash in the wallet, this hasn't been the case for years. it feels even weirder that i haven't spent it; i'm intently spending from my checking account because i can prove the expenses are exempt. and i'm liking having less stuff in the house. i inherited packratitis from my family .

[No Gravy]

I used my stimulus check for the lawyer.

There's a certain quirky irony in that, isn't there?