Keeping things at a friends home, don't want to lose them

[JoeJoe52]

I had a storage unit for about four years and closed it down when I could no longer afford it. I then moved my things to a friend's home.

He is now declaring bankruptcy in order to protect his home. I know sometimes they will force people to sell things. Is my stuff affected by this?

Please excuse the ignorance of the question. I have no idea about any of this.

[AngelinaCatHub]

Welcome to the forum. There is a place on his papers that he can list what he has that does not belong to him. The Trustee will not make him sell things. If he becomes an asset case the Trustee will either sell the stuff that is not exemptable by auction or sell it back to the bked person/s. Your items should be safe. 'Hub

[AngelinaCat]

We also need more information. Is your friend filing a Ch13, or a Ch7? It sounds like a Ch13 if he is trying to save his home.

But 'Hub is correct. There is a place in the paperwork to list things that are in your possession, but not owned by you. Are your things stored in a spare bedroom? Or a separate area, such as the 'right-hand side of the garage'? That would make it easier for your friend to list: "All items in ____________ room belong to "Mr. Fill In the Blank, at Such and Such Address".

Which make me think of another question: Are you paying your friend anything for storing your stuff? If so, he will have to list that amount.

Good wishes, and welcome to the forum.

[LadyInTheRed]

Ask your friend to be sure to list your property on line 14 of his Statement of Financial Affairs.

[JoeJoe52]

Welcome to the forum. There is a place on his papers that he can list what he has that does not belong to him. The Trustee will not make him sell things. If he becomes an asset case the Trustee will either sell the stuff that is not exemptable by auction or sell it back to the bked person/s. Your items should be safe. 'Hub

Thanks very much for your help. When you say "sell it to the bked person/s" I'm not sure what you mean.

We also need more information. Is your friend filing a Ch13, or a Ch7? It sounds like a Ch13 if he is trying to save his home.

But 'Hub is correct. There is a place in the paperwork to list things that are in your possession, but not owned by you. Are your things stored in a spare bedroom? Or a separate area, such as the 'right-hand side of the garage'? That would make it easier for your friend to list: "All items in ____________ room belong to "Mr. Fill In the Blank, at Such and Such Address".

Which make me think of another question: Are you paying your friend anything for storing your stuff? If so, he will have to list that amount.

Good wishes, and welcome to the forum.

Thanks to you as well! Most appreciated.

I'm not sure what chapter he is filing, but I'm certain that you know much more than I do so I will go with your opinion.

My things are basically in the basement, which is actually next to the front door since when you enter the home there is a staircase that leads to the main floor. There is then a side door which leads to a basement storage area. My things are in boxes with a tarp over them.

I am not paying him anything. He's being kind and letting me store them there for free since the reason I had to get rid of my previous unit was due to financial difficulty.

The other thing is that he has so much stuff (he collects things, lots of them!) that I'm afraid my stuff is just lumped all in with it. My things have value only to me and really wouldn't fetch any money.

Ask your friend to be sure to list your property on line 14 of his Statement of Financial Affairs.

Thank you for sharing that with me. That seems a rather small space to list inventory. Would it just be general info such as "boxes belong to so and so"? I'm assuming that not every item needs to be listed and quite frankly I have no intention of doing that for some arbitrator I don't know. I have no time. Just to barely make ends meet I have to work 60 hours a week.

Also it says "List all property owned by another person that the debtor holds or controls." The wording makes me nervous. "holds or controls"? It's my stuff that's being stored there. "Holds" makes sense to me but "controls" isn't a word I like.

My real goal here is to not bug my friend to much as I know he has a lot on his mind.

Thanks again folks. This is a great place for information.

[AngelinaCat]

Hi Joe. I know you don't want to be a pain to your friend, but you really need to see if you can tactfully find out which Chapter he is filing. That will help us on this forum to be better able to answer your questions.

On the form, when the space given is too small to list everything, put a notation that reads: ***Please See Attached Sheet***, and make a separate page listing with a title that includes the notation of the form space that your friend is answering.

Our attorney told us that we did not have to list every single item, piece by piece, but by 'Categories', such as 'Assorted Kitchen cooking Utensils'; 'Assorted pots and pans', etc., and to give a value for them as though you were at a yard sale. This is why I suggested that your friend list your stuff as: "All items in ____________ room belong to "Mr. Fill In the Blank, at Such and Such Address".

Now as to 'hold' or 'control', the way I interpret that is: if he is storing stuff for you, he is 'holding' it. But if he has a key to his house and the basement, and you do NOT, he is both 'holding' AND 'controlling it. That is, he is 'controlling' your ability to get to your stuff.

I hope this helps...

[AngelinaCatHub]

Thanks to you as well! Most appreciated.

I'm not sure what chapter he is filing, but I'm certain that you know much more than I do so I will go with your opinion.

My things are basically in the basement, which is actually next to the front door since when you enter the home there is a staircase that leads to the main floor. There is then a side door which leads to a basement storage area. My things are in boxes with a tarp over them.

I am not paying him anything. He's being kind and letting me store them there for free since the reason I had to get rid of my previous unit was due to financial difficulty.

The other thing is that he has so much stuff (he collects things, lots of them!) that I'm afraid my stuff is just lumped all in with it. My things have value only to me and really wouldn't fetch any money.

My opinion on your stuff is this: Inventory (or guess) what you have stored, then mark those boxes. Be prepared to make an affidavit to this fact. The really best thing you could do is retrieve it away, but I understand your situation and it is nice he is helping you.

Really unless there are terms that make this investigatory that he would have any auditing of his place. Still, mark your stuff and seal it. 'Hub

[JoeJoe52]

Thanks again for all the advice folks. I'm going to have a talk with my friend and see exactly what point he is at and what chapter he is filing.