To declare or not declare jewelry

[imdumb]

Should jewelry be declared if it's not traceable and worth under 15K?

[mountanddo]

All assets, whether traceble or not, need to be declared. To not do so would be fraud.

[catleg]

Declare it giving the value you would receive from a "we buy gold" shop. (I assume it is gold if it is worth that much. As you probably know jeweler appraisals tend to be way too high).

[justbroke]

Should jewelry be declared if it's not traceable and worth under 15K?

Is this a trick question? All assets MUST BE DECLARED. Otherwise, it amounts to fraud and not only can the United States Trustee have your case dismissed, but it could be referred to the U.S. Attorney.

[jst4f]

Your only winning move is to be completely honest in all respects. Declare it. The US policy toward debtors is generous but not without limits. The value of jewelry is tricky. Get it appraised for a quick sale. You might be surprised that the sale value is a lot less than the purchased price.

[keepmine]

You live in Ca. with some generous wildcard exemptions. You may well have enough exemptions to cover the asset.
If not, I agree with the others. Disclose the asset.

[catleg]

Probably a creditor attorney posting; don't feed the troll.

[btbeme]

BK fraud = federal crime.

For education purposes, let me say that there isn't anything that is "untraceable" anymore. Whether it is a copy of Grandma's will, insurance records, details in a divorce decree (to say nothing of a bitter ex-anyone), or simply a hunch, a BK Trustee has a very long reach and very good antenna. And, in a lot of cases, such fraud is brought to their attention by someone who knows just what the petitioner is doing. Modern technology helps them a lot - I know of a Trustee who Googles the petitioner's name to see what comes up; and of course Facebook will eventually be everyone's undoing (maybe not in BK court, but just you wait and see...).

Nothing you own is worth your personal freedom and a felony record.

[Freddy03]

Is this a trick question? All assets MUST BE DECLARED. Otherwise, it amounts to fraud and not only can the United States Trustee have your case dismissed, but it could be referred to the U.S. Attorney.

I'm guessing by the OP's name this is not a trick question...LOL

[mountanddo]

i'm guessing by the op's name this is not a trick question...lol

lol

[justbroke]

I'm guessing by the OP's name this is not a trick question...LOL

Really? There can't be anyone THAT dumb! That's like the guy who posts and asks if it's okay to hide $10K of cash in the mattress before filing. Ooops... I think we already had that post too!