Buying a new computer before filing

[david2]

Hi, All and Merry Christmas, I have a job offer about 30% less than I was making since I was laid off in Aug 09.If I take it (which I probably will) I would start Jan 4,2010. The problem is I was told if I need a computer for the job(which I do) that I must supply my own. I dont want to take the one I have at home to my job ,so I need to buy a new one for the job. I am planning on filing 7 the end of Jan. Can I buy a computer or will it become an asset that I lose or have to buy back? or would it be considered a tool of the trade and be exempt?

[AngelinaCatHub]

OK, David: I will be perfectly honest, buying anything now except by cash would be unwise. Here is a suggestion, the very tiny and cheap Internet book, (I suggest Acer) for about $259.00 would not be a problem. It has NO CD/DVD player. If you have a wifi setup, you can map your own CD/DVD player and install all software, or download to a cheap USB hard drive to install all that stuff. I use one. 160gig HD, 3 gig mem, 2.5 lbs, very nice. WiFi enabled, even a camera, and microphone built in. (I use neither). For ten bucks you can get a rubber full keyboard that rolls or folds up. The screen is small, the KB is 3/4 and you would stumble over some keys if you touchtype.

There are other options. Keep it cheap and of course, it is totally explainable if you have a question from a Trustee.

IN OTHER WORDS, you have no real problem unless you go crazy on the Cadillac of laptops. Then you would not do well in your new start anyway. I'll trust you to shop and get a bargain that will do you well. Keep it cheap. 'Hub

BTW Merry Christmas

[ChaseDidThis]

You say in anearlier post that you have about $8000.00 to spend before filing, I would think the laptop could be listed as tool of the trade and be exempt, and if so you might want to look at dell refurbished, you can buy a really nice business class laptop for about $800.00 or so. The screen will be larger and plenty of power for applications. We bought a few of these at work and they originally sold for over 1500.00 new and are much better than the ones you'll find at walmart. If the computer you have at home is your kids, then you shouldn't even have to list that.
Check with your attorney on tool of the trade first.

[Flamingo]

Hi, All and Merry Christmas, I have a job offer about 30% less than I was making since I was laid off in Aug 09.If I take it (which I probably will) I would start Jan 4,2010. The problem is I was told if I need a computer for the job(which I do) that I must supply my own. I dont want to take the one I have at home to my job ,so I need to buy a new one for the job. I am planning on filing 7 the end of Jan. Can I buy a computer or will it become an asset that I lose or have to buy back? or would it be considered a tool of the trade and be exempt?

You don't have the job yet so don't need the computer yet; if you are offerred the job, check with your attorney before you make any computer purchase. You said you are planning on filing the end of January so I am assuming you have consulted with and/or retained an attorney.

[StartingOver08]

If you pay cash there is no issue, you will have to list it and its value, but the value depreciates immediately upon purchase!