Ch 7: final inputs on my forms?
I'm nearly done with all my revised paperwork for ch 7, and I am meeting with an attorney, but I like to be certain and do my own research so I stay informed.
1. Schedule B: Line 12 I am going to list my 401k. The current market value is $10,000 but i have a loan against it for $2,000. Do I enter $10,000 or $8,000? (I *think* I enter $10,000??)
2. Schedule B: Line 25 I am going to list my automobile vehicle. Current Kelley Blue Book value is $24,000 but i have a loan against it for $29,000. Do I enter $24,000 or $0? (I *think* I am supposed to enter $24,000??)
3. Schedule C: I am going to list my 401k here, but what amount do I put in "Value of Claimed Exemption" and what do I put in "Current Value"? Would it be $10,000 for both even though my loan nets me to $8,000? But it doesnt matter since 401k is exempt?
4. Schedule C: I am going to list my automobile here, but what amount do I put in "Value of Claimed Exemption" and what do I put in "Current Value"?
5. Form 22A. Line 42. I own my co-op in NYC, so I am listing my mortgage here. But what about the monthyl maintenance charges I am required to pay to the co-op? Even if I did not have a mortgage, I am bound to pay the monthly maintenance which is secured by my apt (if I do not pay the maintenance, they will evict me because I am violating the proprietary lease obligation). Surely my co-op is not the first one involved in a NYC bankruptcy. So, I guess the question is where is the proper place on Form 22A for me to capture my maintenance charge of $1,000. I think it goes on line 42? If not, would it go on line 21??
Thank you for your help.
1. Schedule B: Line 12 I am going to list my 401k. The current market value is $10,000 but i have a loan against it for $2,000. Do I enter $10,000 or $8,000? (I *think* I enter $10,000??)
2. Schedule B: Line 25 I am going to list my automobile vehicle. Current Kelley Blue Book value is $24,000 but i have a loan against it for $29,000. Do I enter $24,000 or $0? (I *think* I am supposed to enter $24,000??)
3. Schedule C: I am going to list my 401k here, but what amount do I put in "Value of Claimed Exemption" and what do I put in "Current Value"? Would it be $10,000 for both even though my loan nets me to $8,000? But it doesnt matter since 401k is exempt?
4. Schedule C: I am going to list my automobile here, but what amount do I put in "Value of Claimed Exemption" and what do I put in "Current Value"?
5. Form 22A. Line 42. I own my co-op in NYC, so I am listing my mortgage here. But what about the monthyl maintenance charges I am required to pay to the co-op? Even if I did not have a mortgage, I am bound to pay the monthly maintenance which is secured by my apt (if I do not pay the maintenance, they will evict me because I am violating the proprietary lease obligation). Surely my co-op is not the first one involved in a NYC bankruptcy. So, I guess the question is where is the proper place on Form 22A for me to capture my maintenance charge of $1,000. I think it goes on line 42? If not, would it go on line 21??
Thank you for your help.
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