CH 7 Filers?

[momof3b1g]

I am wondering of those who have filed a chapter 7 bk.
Did you have to buy anything back or get anything that you listed sold?
My inlaws had some things and if they wanted them they had to pay for them or I guess buy them back. Just wondered what the norm is. I think they said the things were considered luxury. Did anybody lose anything because they had more then one of them?

I have heard the trustee is looking for big ticket items, but also they look for luxury items. You get to keep you basic items only. But if you are allowed $10000 in exempt goods. Wouldn't you have more then the necessities?

How much do they go by the $10000 if you have say 3 tv's, 2 stereos. Alot of furniture etc. But each piece isn't worth a whole heck of a lot? Or do they actually add up the values listed?
We are making our list and trying to prepare they will say you have to many this or that and have to give some of it up.

[albacore44]

I am wondering of those who have filed a chapter 7 bk.
Did you have to buy anything back or get anything that you listed sold?
My inlaws had some things and if they wanted them they had to pay for them or I guess buy them back. Just wondered what the norm is. I think they said the things were considered luxury. Did anybody lose anything because they had more then one of them?

I have heard the trustee is looking for big ticket items, but also they look for luxury items. You get to keep you basic items only. But if you are allowed $10000 in exempt goods. Wouldn't you have more then the necessities?

How much do they go by the $10000 if you have say 3 tv's, 2 stereos. Alot of furniture etc. But each piece isn't worth a whole heck of a lot? Or do they actually add up the values listed?
We are making our list and trying to prepare they will say you have to many this or that and have to give some of it up.

I guess for starters, the question would be , what state are they in and did they cover these items in their allowed exemptions.

[jessegirl]

When we added up our household items we added the amounts as if they were sold in a garage sale. The value naturally is not the value at what you purchased them at. Also as albacore said - it all depends on what state you are in and the amount of allowed exemptions.

[momof3b1g]

WE were told to list all of our possesions. Are we supposed to make a list if exemptions and no exemptions? How do we know which is which?

[albacore44]

WE were told to list all of our possesions. Are we supposed to make a list if exemptions and no exemptions? How do we know which is which?

yes, you list your possessions. but once again, what state are you in ?? Each state has specific guidelines as to how you exempt your property.

[momof3b1g]

sorry, Minnesota