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    #1

    Question about client worksheet

    Hi everyone,

    We were emergency filed last week, and have two weeks to finish paperwork. (hearing is on 4/12)

    I'm working through the client worksheet, and where it says to list posessions, what did everyone do?

    I mean we have a 5 year old big screen that new is probably worth $800. Used, and 5 years used? I don't know. Am I to list everything I can? Does someone come to your place to look at everything? You're not forced to sell anything, are you? I'm guessing the lower you estimate, the better?

    How did everyone handle this portion?
    Tags: None
    #2
    Nobody came to my place and looked over things, however they DO have the right. I listed a ballpark of all items owned. Meaning I did not physically count pairs of socks, but I did put a rough guesstimate of my clothing at about 600.00.

    The TV for example, I have a 42in 1080P that I paid 800 for 2 years ago. I listed that value about 400.00 because it is 2 years old and I wouldn't pay more than that for the exact same TV at a garage sale.

    Don't let this list get the best of you, it does go rather quickly. Like kitchen appliances...walk through a thrift store and see what they sell for. Nobody will do a spoon count to make sure you are right, but be fair with your estimates and you should not have any problems.

    Best of luck.
    8-07-09-filed Chapter 7
    11-18-09-DISCHARGED!!

    Life is not what challenges you face, but how you face those challenges.

    Comment

      #3
      Yeah, I had a lawyer tell me garage sale prices. Go to Salvation Army and Goodwill and see what they are charging.
      First consult: You go now, no CH 7 for you. You spent entire buffet. 13 has a 95 percent payback. (Owwwch) On to next consult....

      Comment

        #4
        No 5 year old TV is worth 800 bucks.

        Consider what you can get NEW, today, for 800 bucks.

        You run a real risk of overvaluing your stuff, and creating headaches for yourself if you use your own perception of values.

        There are many threads here about the subject. Search for them and you will get all the answers you need.

        Good luck
        11-20-09-- Filed Chapter 7
        12-23-09-- 341 Meeting-Early Christmas Gift?
        3-9-10--Discharged

        Comment

          #5
          Yes, please be careful with valuations. A 5-year old television is never worth $800, as others have said. You'd be lucky to get $80 for it!

          Unless something has a particularly high value and is literally new, I would lump everything into categories.

          Clothing (for Children, non-filing spouse)
          Your Clothing
          Appliances
          Electronics (old TVs, VCR, DVD player, stereo)
          Large LCD/Plasma TVs (I always list these separate if newer than 3 years)
          Media (books, tapes, CDs, DVDs)
          Firearms and Sporting Equipment
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog

          Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

          Comment

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