Can I simply have someone like a licensed auctioneer value all of my stuff or am I required to set the values myself? I have this massive list and I think it might be easy and quick to have an auctioneer value this stuff but not if I am required to do this myself... Capiche? Anyone have any thoughts about this? Buehler?
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Filed Chapter 7 7/14/2011, 341 meeting 8/16/2011, discharged 10/19/2011! Note that my posts are not legal advice, so please do not sue me, I have enough problems already. -
There is nothing that prevents you from having it valued however, it's easier just to do it yourself. You said you already had the list, value your items at yard sale prices.
Having been the daughter of an auctioneer for 60 years, I would not advise doing that. There will be charges and they can't really put a value on it.......unless you have numerous antiques, it's not worth what they would charge. Remember, they have some idea but their focus is really on the sale and in todays world, auctions are not very profitable. I just attended an auction where a beautiful, looked brand new, living room set of sofa, loveseat and chair, all reclining went for a lousy 28.00!!! Not kidding!
Just my opinion but I would do it myself.Filed CH 7 4/15/11
341 5/23/11
DISCHARGED & CLOSED ON 7/27/11
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I struggled with this aspect of the process as well. What I would do is value them yourself using quick liquidation prices(whatever they are) unless you have particular items that are works of art or antiques, etc. Then I would use a licensed appraiser in your area for those items. Check craigslist, ebay, etc. to get an idea of what stuff like yours is going for. Lots of discussion on the forum on this topic. Remember that things are usually worth a lot less to others than to you. And that trustees don't want household items, small tools, old dogs, etc.
Also try grouping things together when possible- for example dishes and tableware, small household knick-knacks, household tools, etc. the trustees don't want this kind of thing and I would not spend a lot of time on them.
Good luck.Last edited by daylate; 07-08-2011, 06:49 AM.Comment
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Unless it's something really special, your stuff just is not worth anything. When we filed, it was lumped together as household goods, clothing, etc. Nothing was itemized and there was never a problem.
The trustee does not want your "junk". They want $$$$ if any is available. That does not come from your spoons, towels, and used mattress.....All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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That's how mine was done too.Originally posted by frogger View PostLadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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I went overboard on listing my 'stuff' but a lot of that was inventory from remodeling I did not complete as I wasn't going to put more time and effort into the place once I knew it had to go into foreclosure. I personally think it helped my case as it was obvious from what I had that the home improvement loan I had taken out (which I included in my bk) was not mis-spent. It was a crazy neighborhood organization and I had to spend all the money - still can't figure that one out.
Anyway, nothing was questioned and the trustee allowed that to be discharged. The main things I grouped together like everyone else here but anything I felt had value I looked up on ebay and craig's list.
I do believe if they see you are not trying to hide anything and are very open, there are a lot less questions.Comment
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