question concerning assets

[need help]

How do I find out if I can file "no asset" chapter 7?
I have a truck(which I am going to surrender) a 15 yera old tv, a wal-mart stereo(80.00), a wal-mart DVD player (45.00), a computer (still paying for),
a bed,dresser, couch and chair and end tables given to me by my aunt.
No money in the bank, no other income.
This is the extent of which I own.

[no_it_all]

How do I find out if I can file "no asset" chapter 7?.

If what you listed is all that you own, you are an outstanding candidate for a no assest Chapter 7. Check to see what your state allows you to keep and I think you will be well within those exemptions.......

[SinkingFast]

You have to value your property according to what you'd pay to buy it now.

But where do you purchase an 8 year old sofa??!! Yardsales, garagesales, Goodwill, and other 2nd hand furniture stores. Same thing with your computer. It's used. You can look on eBay or the Goodwill auction site to see how much they charge for a similar used computer.

Even tho some of your furniture was "gifted" to you, you'll have to value it as well.

There's one attny here in town that goes thru and lists EVERY household item his filers own except for the kitchen stuff. Then he'll group dishes, pots and pans, and flatware together.

If you indeed have no income and no other assets, you would most likely be a straightforward Ch 7 without a problem.

[Minnymouth]

Okay,
Why are you surrendering your vehicle..... don't you need transportation?
If its an older auto - you can probably keep it as it may be claimed exempt.... depending on your exemptions.

If its a new vehicle, you can reaffirm on it as long as you can make the payments..... and do this before discharge of your BK case.

You need to discuss your situation with an attorney (free consultation) and see what options are available to you. Probably a straight Chapter 7.....

Minny

[Jenny]

"Assets" includes *everything* you own. Do you have a computer? Or are you using someone else's to post here? Do you have clothes? CDs for the stereo? Any movies? What about dishes and cookware? It's probably all under the exemption, but you you have to look at everything. Do you have any decorations, pictures, vases, candle holders, etc? It all gets included in your household goods.