Question about estimating personal property

[mountanddo]

This is what I listed with the help of my attorney

Checking, savings, etc.
Household goods and furnishings
Computer
Wearing Apparel
Car

Household goods and furniture - $400
Now I don't have much furniture. Just two living room chairs, a bed, desk and dining room table and a couple of end tables.
Household goods was all my kitchen stuff, bathroom and stuff like knick knacks, pictures etc.

One laptop $200
Clothes $250
Car 1996 Sunfire $2,985 - This must be the BBV because my car is crap and has a salvage title to boot. I didn't dispute it because it is within the exemptions.

Granted I have a lot more "stuff" but honestly it's not anything that is worth anything to anyone but me like an ironing board and iron, a waterpic stuff like that. I didn't even list my TV as a separate item since it's 3 years old.

I probably have less than most people as I lived in a studio apartment alone for a few years and I just didn't need more than that. I also am not a real packrat and only have the minimum I need to live like exactly 4 plates, 4 glasses. LOL....In fact in that apartment my dining room table was built in the wall so I just recently picked up a free one with two chairs on Craig's list.

The sad thing is that my boyfriends is a borderline hoarder but more like a packrat. We tried living together once but I just couldn't live in the clutter so while we still date I'm very happy with my minimal lifestyle

[keepsmiling]

MD, in my next life, I am coming back totally minimalist.
I'm tired of moving piles from one place to the next. The papers especially kill me.
Spent hours clearing out papers this week.
I have this recurring fantasy where I overvalue EVERYTHING and the tt comes to take it all away. Cheaper than me renting a dumpster

[TomTea31]

so not to bring this subject back up but I do have a question about wearing apparel. There's 4 people in my home, so how do I guesstimate what everything is worth? I was thinking $300 but does that seem too low for 4 people?

Thanks

[mountanddo]

so not to bring this subject back up but I do have a question about wearing apparel. There's 4 people in my home, so how do I guesstimate what everything is worth? I was thinking $300 but does that seem too low for 4 people?

Thanks

At .50 an item that's 600 items for four people. Does anyone own more than 150 pieces of clothing? Again, I wouln't worry too much about it. The trustee isn't going to take your clothes and sell them at an auction unless you have expensive furs. Even that's a crap shoot because who buys fur nowadays?

[keepsmiling]

Some of us have 150 items, in 3 different sizes

[TomTea31]

Hmm I didn't think about that. So I'd like to lower that amount to like $150 which would actually be more accurate because we're all due new clothing. The nolo book showed $800 for a family of 4 so I was like well there's no way I have that much but maybe $300 was more reasonable.

[TomTea31]

Some of us have 150 items, in 3 different sizes

I certainly did at one time but then lost 40 pounds and had the opportunity to throw out the extras Now I'd just like to downsize again he he

[sunshinepa]

I broke mine into catagories and listed the big items below each. It seemed to make things easy and I put it into an Excel Spreadsheet with a "value" column. My attorney just took that and attached it, it was never questioned. Price at yard sale prices unless you have something very valuable. Believe I used the following:

Personal Items (listed clothing under this)
Jewelry
Furniture (just listed big items and stated misc. pictures rugs and etc)
Appliances
Computer Equipment
Media (grouped books, dvds here)
Lawn and Garden
Misc. Household

Good luck and keep the clothing low.

[TomTea31]

so instead of filling out the sheet in the forms I can just attached a spreadsheet? If so that would make it so much easier as everything does not fit into those boxes! But then again I'm not sure I want to get that detailed

[lotsahats]

I am in the same boat with OP. I'm getting ready to file next week, and am trying to figure out the value of my stuff.

I have absolutely nothing of value. We are sitting on the same furniture we bought second-hand ten years ago, when we first got married. Anything we did buy new was bought at Walmart, or Target. Our books sit on a shelf that we bought brand new for $19. I'm a little worried, because I'm sure the trustee is going to question why my living room furniture is valued at $50, but, really, all we have in there are a sofa (bought at Goodwill ten years ago for $10), a television (the old box-shaped kind, without the original remote), the table on which the television sits, a DVD player, and the aforementioned $19 book shelf. Every room in my apartment is like this. Even when we were getting ready for the birth of our son, three years ago, we bought most stuff at thrift stores. I don't think we spent more than $100 on the nursery. In fact, the most expensive item--a crib with a drop-side rail which was bought new--has been recalled, which makes it illegal to sell.

I'll probably photograph everything to prove how worthless it all is.

[sunshinepa]

so instead of filling out the sheet in the forms I can just attached a spreadsheet? If so that would make it so much easier as everything does not fit into those boxes! But then again I'm not sure I want to get that detailed

Tom.....that's exactly what my attorney did and then noted it as an attachment.

[LadyInTheRed]

I am in the same boat with OP. I'm getting ready to file next week, and am trying to figure out the value of my stuff.

I have absolutely nothing of value. We are sitting on the same furniture we bought second-hand ten years ago, when we first got married. Anything we did buy new was bought at Walmart, or Target. Our books sit on a shelf that we bought brand new for $19. I'm a little worried, because I'm sure the trustee is going to question why my living room furniture is valued at $50, but, really, all we have in there are a sofa (bought at Goodwill ten years ago for $10), a television (the old box-shaped kind, without the original remote), the table on which the television sits, a DVD player, and the aforementioned $19 book shelf. Every room in my apartment is like this. Even when we were getting ready for the birth of our son, three years ago, we bought most stuff at thrift stores. I don't think we spent more than $100 on the nursery. In fact, the most expensive item--a crib with a drop-side rail which was bought new--has been recalled, which makes it illegal to sell.

I'll probably photograph everything to prove how worthless it all is.

I wouldn't go to the trouble of photographing it all. The trustee does not want your used furniture. (The possible exception is if you are in the middle district of Florida). If something seems undervalued, your attorney will tell you. In the unlikely even that photos are needed, you can take them when the issue comes up.

[mountanddo]

I'll probably photograph everything to prove how worthless it all is.

That would be a big waste of time. Honestly I think people get too hung up on what their stuff is worth and if the trustee is going to take it. The trustee isn't going to take ordinary things that you use to live including TV's, Wii's and Xboxes. They are not interested in seizing everything you own and holding a garage sale to pay back your creditors. If you have expensive jewelry or ATV's or boats and can't exempt them then they would be interested in that. Maybe a Piccasso if you own one of those. They are not interested in the $59.99 set of pots and pans you bought at Target. You don't even need to list these things separately - group them together as household items. There was one poster here that took an inventory of every single thing they owned and if that makes you feel better than go ahead and do it. Just know that it isn't necessary. I think some people just need to worry until they get an ulcer because that is the way they are. Nothing they read or are told is going to change that!

[dman]

Lot is district specific. That said...

For most things, you'll group smaller items together. The most detailed you may get would be "Living Room Furniture", "Bedroom Furniture", "Appliances", etc.

Good point about some things that can't legally be sold. Some states, you can't legally sell a used mattress, so as soon as you've used it, its value is $0.

I wouldn't call a dealer and ask how much something is selling for on the used market. I'd ask how much they'd be willing to pay THAT DAY. Hey, it's nice to know that something might be worth $500 to someone out there, if I can wait around forever. But if the price I can get TODAY is $100, then that item is worth $100. It's similar to how a trustee would look at it...stuff would likely be sold at auction or some similar venue...they're not going to get full retail.