SOS: Blank Schedule C Threatens To Sink Bankruptcy!

[HeartBroke]

Hi all:

I filed myself (pro-se?) on the 14th; now I get a letter saying that, because Schedule C was not included, my case will be dismissed on monday if I don't get it in.

I have no property at all, much less any that would be "exempt" (well, I own a truck, but owe more on it than it's worth. However I indicated that I wish to continue paying it off). Trouble is, the website w/ instructions has now deleted instructs on Sched C. How do I fill this thing out legally?

I also wrote on the Summary of Schedules that, "NO," I had not included "C." Now, if I add it, it's going to change the "total number of pages" on the Summary of Schedules. Should I re-do both?

Any help, as always, much appreciated!

[StaciMM]

Not sure if you need to redo the other parts of the petition, but you do need to list something on the C. It looks mighty questionable to say you own nothing. (Do you have clothes, own any furniture, dishes, etc.)

Schedule C does not only apply to major property-but anything you own. You can summarize, such as $X for household goods & furniture, $Y for clothing, $Z for misc. books, movies, and music.

You should also indicate what balances were in any checking or savings accounts when you filed, even if it was only a few dollars. The trustee is not going to take it all away-each state has levels of what you can keep. By saying you own NOTHING it looks like you're trying to hide something.

Even a homeless man living in an alley has possessions.

[quest42]

You must submit a Schedule C by Monday... it's the 14-day limit to finish your filing. Or ask for a few days extension, so you can get it in. It's probably up to the discretion and custom of your helpful friendly local court clerks.

The www.uscourts.gov website has links to both the new and the old forms, I saw that a few days ago, so you can still get the old forms...

Official Bankruptcy Forms for use in cases filed before October 17, 2005, are available at

http://www.uscourts.gov/rules/BK_Old_Forms_Page.html

[HeartBroke]

Thanks both ... but do I list things I've already listed elsewhere? On Schedule B I already listed my antique beer can ($60.00), my penny collection ($50.00), and my CD's ($150.00), as well as the remains of my bank account and the truck. Should I re-list these, or should I get into torn jeans and ramen noodles and the used book about Woodstock and my dustballs?

(PS: I'm totally serious about everything but the dustballs.)

[quest42]

www.form7.com makes it easier...

Everything you put on schedule B (property) that you want to keep you list again on schedule C (exemptions) if it is within the allowed limits.

Remember, use the "garage sale" prices, priced for quick sale, not the best price that you could ever get if you advertised it for months on ebay with a high minimum bid.

[StaciMM]

Oops-I didn't look at my schedules before I posted originally. You are correct to list all items on B, then on C you claim exemptions for them.

Thanks both ... but do I list things I've already listed elsewhere? On Schedule B I already listed my antique beer can ($60.00), my penny collection ($50.00), and my CD's ($150.00), as well as the remains of my bank account and the truck. Should I re-list these, or should I get into torn jeans and ramen noodles and the used book about Woodstock and my dustballs?

(PS: I'm totally serious about everything but the dustballs.)

[HeartBroke]

Okay, thanks again!

Still the one remaining question: This is going to change the totals on my Summary of Schedules ... should I update that, too? Does that change anything else?

Thaaaaaaaaaanks!

[HeartBroke]

And the saga continues ... on Sched C where it says "Specify Law Providing Each Exemption," does that mean US Code, or "Homestead," "Motor Vehicle," etc.?

[StaciMM]

Look up your state's exemption list. It should have code beside it. For example, in NY you can exempt a certain amount of cash (the site I checked shows $2500 but some of their figures are out of date and the actual exemptions are higher) and the code is 5205(h). In GA, the code to exempt regular personal property is 44-13-100(a)(4).

[quest42]

You gotta look it up for your state...

This is one of the most stressful parts for us Do-It-Yourselfers!

Each state/district has different rules... You need to cite the specifics... For each state, the NOLO book "How to file for Chapter 7" has a half page or more of details, in fine print! The www.form7.com program did it very nicely for me...

Where are you?

For example, in California... under "system 2":
703.140 (b)(1) == up to $18,675 (homestead)
703.140 (b)(4) == jewelry up to $1,225
703.140 (b)(5) == wildcard, balance of the $18,675
703.140 (b)(10)(E) == retirement accounts
etc...

I've been hunting and hunting for a web page that explains this...

[HeartBroke]

OMG OMG OMG OMG OMG OMG OMG ... what's the emoticon for "Stark Raving Panic"?

TY, OK, OK, OK ... here I go, OK OK OK OMG OMG OMG OMG

[HeartBroke]

OK; so I'm in Colorado. Colorado law says: "Motor vehicles used for work to $3,000 ; to $6,000 to get medical care, if elderly or disabled." I don't use my car for work (right now); should I still cite this law, or a federal law instead?

And am I gathering that money in a bank account is not exempt at all?

Are a penny collection and an antique beer can "household goods"?

(LOL at the extent of my own poverty!!!)

[You're welcome to LOL as well ...]

[StaciMM]

http://www.bankruptcyinformation.com/CO_exemp.htm

I don't know if the values are accurate, but you can use this link to get the codes. About the vehicle, I think $3000 is the standard exemption but if its used for medical, etc. allows a higher value.

You don't have to itemize your possessions-you can summarize. Such as 'household goods & furniture' and 'hobby collections'. I don't see anything about a wild card or a cash exemption, so hopefully you had very little at the time you filed. (If it is a small amount, I wouldn't expect the trustee to ask for it-but you never know.)

[HeartBroke]

So, as I understand it from another thread, any money in a bank account is considered propert of the ... uh ... bankruptcy/estate/trustee (whatever) ... that is, it's not "protected." So I shouldn't include it on a Schedule C "property claimed as exempt," right?

[StaciMM]

If there is no exemption to cover it, correct.