For schedule, what value for my car?

[IBroke]

Hi,

I'm preparing the docs for my attorney to file CH7 and was curious what input I should use for my car's value when it is considered an asset? I own it - no loan. KBB or NADA and which of these values?

Could I also get an appraisal from - let's say - Carmax? If I recall correctly, if I want to redeem a car, they are demanding the highest value - NADA retail. But I don't think that number is accurate when trying to define the true value of the car if it's treated as asset.

FYI, it's the Florida Middle District.

Thanks in advance!

[Pandora]

I know for our area/district - our trustee used both NADA and KBB - took the low and high amounts, then averaged them to get the median price. Some trustees use NADA only however.

[Silver26]

Our trustee required that we give a printout from KBB.

[wonderingrov]

On mine, my lawyer had me run the KBB value for 'good' condition. The trustee seemed fine with that. I'm in the Northern District of GA. From what my lawyer said, it can vary with the trustee - but she was familiar with how the trustees in our district normally work.

[IBroke]

Thanks for the info so far. I'll call my attorney tomorrow and ask for the correct price to use. It's possible that it is NADA - however, there are 3-4 different NADA-values alone. The highest - NADA retail - is defined as "Clean Retail" - and that is certainly no match for our current vehicle. Our 11 year old Mercury Sable with 116K miles is listed at $4,600 at NADA retail - but that is far off reality.