Declaring Assets

[queencreekaz]

How does the declaring assets thing work? I have heard a few different stories from friends. One says that you put it all on paper and another says that you put it on paper but the trusty will come check your house?

Do they really come out and go through your stuff. I think my buddy has a screw loose on this one but I figured I would ask the experts.

[LimpDisc]

I have read on these forums that there is one area in Florida where the trustee sends someone to your house, but that's not normal. You just list it on the paperwork in general catagories. Dining room set, living room set, bedroom set and so on. List things at the value you might receive in a garage sale.

[frogger]

Most likely, no one is coming. As to your stuff, it's worthless, just like mine. Go garage sale shopping and see what things bring.

It's amazing how little our stuff is worth.

[NewChapter]

LimpDisc, what area in Florida is that?

How granular do you have to get when listing items? i.e., "Home Office Computer" OR "Home Office Computer, 2 flat panel monitors, wireless trackball, external hard drive, etc..."?

Thanks!

[DeadManCrawling]

Trustees in Florida Middle sometimes send out appraisers.

We are in that district.

Our attorney says it happens more often when the filer has a home valed at more than 300k or so. Ours WAS valued as high as 600k at the top of the boom, but is under 300k now.'

We will see what happens, and report back if it occurs.

Will be sort of amusing I guess, since all of our stuff is old and pretty beat up.

[FloridaGuy]

Yes... there is one trustee in particular in the Middle District of FL who does this. After it happened to me, I investigated through PACER some of the other cases. It cost me $150.00 in PACER fee's, but what I found out after looking at MANY cases... all but 1 or 2 that went accross their desk had appraisals and were turned into asset cases.

Ugly.

[SuzieBK]

Wow, that would seriously suck. We worried about it since we were filing with a relatively high income, but also a high amount of debt, but our atty (Cleveland, OH) said it never happened here. He didn't even have us list out our possessions, rather just put in the exemption amount. Luckily the TT was more interested in my husband's car (owned free & clear, with a KBB about $4K over exemption), though like everyone here is saying, it's not like he'd find anything all that worthwhile at our house. It's sad when you see the vintage china collection you've been paying top dollar for over the years being worth no more than $1/plate to a reseller.