Children's Possessions

[Clearthebook]

I apologize if this has been covered before, but after reading several threads regarding children's possession with respect to "the estate" I still do not have a clear picture of what I am required to do.

We are going to file Pro Se Chapter 7 in Oregon. When filling out the Schedule B, do I include our children's possessions? This would include furniture, toys, and various electronics. All of these items are those not used by me or my wife - they are exclusively used by the children.

[Flamingo]

The best thing you can do would be to go get a free consultation with a BK attorney before you attempt to file yourself. You can glean a lot of information that way as to your own personal situation and filing in your state. Note that when we filed Chapter 13 (not pro se), it was indicated to us that our daughter's furniture and personal clothing and accessories were not to be listed. She was 13 at the time of our filing. That excluded any electronic games, computers, cell phones, etc.

[tcreegan]

Hi Clearthebooks,

Most people seem to grossly overvalue their household personal property, when adjusted the kids stuff usually doesn't make a ripple...unless you have teenagers with high $$$ electronics. The kids are part of the household, so they get added into the household size and their stuff is household stuff. But Oregons personal prop exemptions seem generous enough, I don't think it will be a problem. The key is you are lumping stuff into the categories laid out in Oregon Rev. Stat., and no one wants to know how many laundry baskets you have. You value things by what you would get at a yard sale. We remember the price when we bought it new and forget it is used now...got to think thrift shop and yard sale.

Since you mentioned pro-se, do you have the NOLO book? (www.nolo.com) Highly recommended, step-by-step guide to Bk filing.

Have you found Oregons bankruptcy exemptions in the Oregon Revised Statutes? They seem to be spread out all over the place. This website shows Oregon Revised Statutes sections but it is not always highly accurate, just a starting point: http://www.thebankruptcysite.org/exemptions/oregon.html

Have you gone to your BK court website? http://www.orb.uscourts.gov/ They have a little info for debtors, but you want to go to the rules and read the local BK rules that apply to a Ch 7 (it's a hugh document, but don't panic, only part of it applies in a Ch 7)

Well, long answer to the short question, hope some of it is useful...

Welcome aboard, keep posting questions, lots of good folks here to help out!

Tom in Colo