I am trying to fill out BK paperwork and am pretty confused about itemizing all of my assets.
I am on disability, i have nothing of value really. I have a couple of old cars, one that I use and the other doesn't run. I have a few guns, minor things of some small value but nothing else. I have sold practically everything else i owned to try to have money to live on, so BK is my last resort.
I have only a credit card debt on which I've been paying for many years - making regular payments, never late. but the interest has been increased several times and now my minimum payments are such that I can no longer afford them. I have an ill mother and grandfather I am taking care of and having to pay several hundred dollars a month from my disability check leaves me literally penniless mid-month.
My real question is, if I file BK on this debt, how detailed do you have to get in the paperwork regarding your assets? Do you have to list each and every item individually?
Also, does anyone have experience with how your assets are judged? If you are allowed to have one car of a certain value and I have this other old car that does not run, will they literally come to my home and take the other car? Will they require that I sell it or my other few assets (guns and such)? I don't know what the process is, and I'm just curious do they actually ever come to your home to assess or confiscate your assets for resale?
I am new to this and ignorant but trying to research it myself as much as possible. filling out the forms is confusing and makes me terrified that if i fail to itemize some individual item they will come to my house and confiscate it or drag me off to jail. lol
I would appreciate comments from anyone who knows about this subject or has been through it.
I am on disability, i have nothing of value really. I have a couple of old cars, one that I use and the other doesn't run. I have a few guns, minor things of some small value but nothing else. I have sold practically everything else i owned to try to have money to live on, so BK is my last resort.
I have only a credit card debt on which I've been paying for many years - making regular payments, never late. but the interest has been increased several times and now my minimum payments are such that I can no longer afford them. I have an ill mother and grandfather I am taking care of and having to pay several hundred dollars a month from my disability check leaves me literally penniless mid-month.
My real question is, if I file BK on this debt, how detailed do you have to get in the paperwork regarding your assets? Do you have to list each and every item individually?
Also, does anyone have experience with how your assets are judged? If you are allowed to have one car of a certain value and I have this other old car that does not run, will they literally come to my home and take the other car? Will they require that I sell it or my other few assets (guns and such)? I don't know what the process is, and I'm just curious do they actually ever come to your home to assess or confiscate your assets for resale?
I am new to this and ignorant but trying to research it myself as much as possible. filling out the forms is confusing and makes me terrified that if i fail to itemize some individual item they will come to my house and confiscate it or drag me off to jail. lol
I would appreciate comments from anyone who knows about this subject or has been through it.