Schedule B Questions

[HRoark0717]

On the Schedule B form, there is a line that is a little confusing. Hoping for some clarification from someone who knows... P.S. I am using the NOLO book and filing Pro Per

Top part of the form in the text area there is a line that reads, "If the debtor is an individual, state the amount of any exemptions claimed only in Schedule C." In the book, amounts are shown filled out on both Schedule B and Schedule C.

Wondering what is correct way and what others are doing about this? Any clarification would be helpful... Thanks!

Another quick question: On Line 18 in Schedule B, would unemployment benefits apply as liquidated debts owed to debtor if the weekly bi-weekly amount is owed?

[tcreegan]

Hi HRoark,

The line on Schedule B is confusing as heck...what it means is don't put any exemption amounts on Schedule B, put the full value. You only put exemption amounts on Schedule C

Don't put unemployment on Schedule B, it is considered income. Goes on Schedule I.

A heads-up from a fellow pro-se guy....
The categories on Schedule B are going to be somewhat different on Schedule C where you use the categories in the CA bankruptcy exemptions. This can create problems when you are making sure the "current value" column on Schedule B = "current value" column on Schedule C

AND...everyone overvalues their stuff. Its only natural, we bought it new and that memory lingers. But current value of used stuff is what you can get it for in the thrift shop. Swing through Goodwill, a pawn shop, and hit a few garage sales before doing Schedule B & C

Brings to mind the old George Carlin line....."my stuff is stuff, but your stuff is [fecal matter]

Tom in Colo

[HRoark0717]

Excellent Tom in Colo! Thanks! Your explanation makes sense. And CARLIN was a genius...