Am I giving my assets too much value?

[kartoons19]

I am working on my paperwork and from what I read on this forum it seems like I giving too much value to my possessions.

I live in a small one bedroom apartment and sold a lot of books and other things during the past year. I'm fairly frugal as I don't buy new things, except when they need to be replaced. Most of my furniture is at least 10 years old (particle board), although it is still in good shape. Most of my clothes I buy at Kohls and I'm not one to buy clothes that often. I also don't buy expensive shoes. I have used the salvation army website, craiglist, ebay and I am still coming up with:

Household goods - $2100 (approx) and I still have more to add
Clothing - $735 (I haven't even counted the shoes yet).

I have read where others just put down $1000 for household and $200 for clothing. I am including everything, even nic naks, candles, christmas decorations, things that normally cost a few dollars new. I know I'm still under the exemptions ($3000 for household and $1500 for clothing), but am I being too detailed? This is taking forever! Any suggestions or feedback you have would be appreciated. Thanks.

[ben69]

well, if your being detailed, it shows your honest. I read somewhere that the more thorough you are, the better.

[JackBondLove]

I was extraordinarily detailed in my list of assets, and yes, the trustee listed them with the stated value (I used BK auction prices) as the amount I had to fork over to retain them (there is no wildcard exemption in my state.) It was only about $2400.

[keptdigging]

I was extraordinarily detailed in my list of assets, and yes, the trustee listed them with the stated value (I used BK auction prices) as the amount I had to fork over to retain them (there is no wildcard exemption in my state.) It was only about $2400.

How did you determine "bk auction prices?" Is there a resource we should all know about?

[kartoons19]

JackBondLove,

I'm curious about the BK auction prices as well. I used the salvation army website, craigslist, ebay and amazon.com. I found that prices varied widely between these sites. I generally used the lowest rate for most things, as most of what I own is fairly old. There are some things that I just couldn't find a price for, so I had to estimate.

I just didn't know if I was making this harder than it needed to be by listing every single thing I had in my house, even those items that just cost a few dollars brand new. I knew I would be under the Colorado excemptions, which also doesn't have a wildcard, because I don't own that much. I just want to make sure I cover all bases incase I am asked about my assets at the 341. Thanks.