Schedule B Form

[Daedalus81]

I am finding that the schedule B6B form is too small to fit all my property. Is it appropriate to list in excel? Otherwise I would need to print something like 8 copies of schedule B6B at 3 pages each (though only one section would be filled out)!

[bcohen]

I recently filled out my bankruptcy forms, as I am planning to file as soon as I receive and cash my federal tax refund, which although less than $400, cannot be exempted in Arizona.

What I did for declaring my personal property was to group things into categories, and simply list the value by category, such as "household electronics", "furniture for 2 persons", "small appliances", "cookware and kitchen implements", "towels, blankets, and linens", "clothing for 2 persons", and "college textbooks and study materials". I don't own any real estate or vehicles, and the apartment I am renting includes all major appliances, so I don't have to list that stuff.

I do not expect any scrutiny from the trustee listing my personal property this way, but if they complain, then I will let them know that I live in a small 1-bedroom apartment, and if they think I am hiding something, they're free to send an appraiser at their own expense. Most of my stuff came from dumpster diving, anyways.

[btbeme]

Consolidate your belongings into general groups, rather than a piece by piece description. Unless your filing has other flags that perk their interest, it is highly unlikely that a Trustee would want to see a detailed listing of plates and ashtrays. Some items deserve specific listings, as these generally have true intrinsic value (guns, jewelry, etc). But for most things, a general listing of "kitchenware - value $35" is usually OK.

Now, that being said, if you are filing BK a year or two after having a $200,000 income and you only list an Ikea footstool as your sole possession...THAT would get the Trustee's attention. What they look for is continuity - "does this file make sense?"

[ccmisery]

I am finding this a bit of a challenge as well, say's to list everything but that is going to be way too detailed. I am keeping it general ,like TV with DVD player, end table, sofa and etc. but it's the little things that are going to be hard.

How do you denote stuff like household items, lamps, decorative stuff, artwork you buy at TJ Maxx, Wall decorations and small piles of things that are generally household items. Can you group it all into "household items" with a value? I would say a lot of our possessions fall under this. My wife has some decorative glass dishes but no Ming Dynasty China or anything of big value.

I guess I can just list my toolbox as "toolbox with tools" and not go through each item?

Does anyone have any good tips? I read different views on this.

[ValleYum]

Some Suggestions:

• Miscellaneous hand & small power tools (the biggest things we owned were a push mower and a tiny electric power washer)
• Home electronics (we had 2 tube tvs and one small 30 inch LCD and a DVD/VCR combo)
• Living room suite with decor
• Bedroom suite with decor
• Bedding, pillows, towels and assorted linen
• Kitchen utensils, dishware, cookware and small appliances.
• Noritake Sonata China-service for 8

We got the pricing from eBay, Goodwill Store, craiglist, etc.

Good luck and DO NOT overthink this! Really!

[LadyInTheRed]

On my Schedule B, lines 4, 5 and 6 each had one grouping of items:

4. Household goods & furnishings 2,500.00

5. books, pictures 200.00

6. clothing & personal effects 1,000.00

Looking at it now, I should have listed some sports and hobby equipment on line 8. Maybe that was included in household goods. I don't remember. But, I had plenty of unused exemption to cover it all.

ValleYum is right. Don't over think it. Just make sure you cover everything under some category.

[Pjmax]

I don't have much, but I went through the same anxiety figuring this out. I had some pretty detailed lists at first, and I spent a good deal of time checking the completed listings on eBay for prices. In the end, I took my lists and grouped them as is suggested above, which is just how my attorney wanted it. If he asked about anything specific, I just pulled out my 'inventory sheet'. It didn't need to be that detailed, but it helped me organize and I had my references together in case it ever came up later, which it didn't.

[ccmisery]

The Schedule B Form the Lawyer gave me has everything broken down in rooms, living room, bedroom and etc. I also am confused on value, I read conflicting views on this, one said to list what it would cost new to buy each item and another said to list the price you would get for it at used. Seems like a lot of estimating and figuring off of the top of my head.

The Schedule B in the actual petition combines everything correct?

[LadyInTheRed]

The Schedule B Form the Lawyer gave me has everything broken down in rooms, living room, bedroom and etc. I also am confused on value, I read conflicting views on this, one said to list what it would cost new to buy each item and another said to list the price you would get for it at used. Seems like a lot of estimating and figuring off of the top of my head.

The Schedule B in the actual petition combines everything correct?

Here's Schedule B: http://www.uscourts.gov/uscourts/Rul...006B_1207f.pdf

But, if you are working with an attorney, you should provide him with whatever info he requested. If the form he asked you to fill out groups assets by room, then fill it out that way, regardless of what is on the actuall Schedule B. Also, ask him how to value things, regardless of what you read elsewhere, including here. That said, your items aren't new, so they aren't worth what you'd pay to replace them with new stuff.

[btbeme]

Here's Schedule B: http://www.uscourts.gov/uscourts/Rul...006B_1207f.pdf

But, if you are working with an attorney, you should provide him with whatever info he requested. If the form he asked you to fill out groups assets by room, then fill it out that way, regardless of what is on the actuall Schedule B. Also, ask him how to value things, regardless of what you read elsewhere, including here. That said, your items aren't new, so they aren't worth what you'd pay to replace them with new stuff.

...and while you are asking him how to value things, you may as well ask what your final filing will look like. Many attorneys want a fairly detailed listing so they can identify any possible red flags early in the process (then they generalize and group the assets). A few I have seen, however, offer a lot more information than is needed or requested on the initial filing, which can RAISE red flags.

An attorney should, in my opinion, strive to make the filing as smooth and wart-free as possible - which may mean a delay in filing so you an de-wart any problems that may arise. But, I don't see any reason that an attorney - or a petitioner - should do the Trustee's homework for them by offering more than is needed to process the file. Honesty, always - but stop at the point where honesty becomes charity.

It's a fine line, depending on the district and the Trustee... Not enough info = Trustee interest. Too much info = Trustee interest. Trust your attorney, as he likely knows what the Trustees expect. But you should be well informed as to what the Trustee expects and what is eventually filed with your signature on it.

[ccmisery]

Here's Schedule B: http://www.uscourts.gov/uscourts/Rul...006B_1207f.pdf

But, if you are working with an attorney, you should provide him with whatever info he requested. If the form he asked you to fill out groups assets by room, then fill it out that way, regardless of what is on the actuall Schedule B. Also, ask him how to value things, regardless of what you read elsewhere, including here. That said, your items aren't new, so they aren't worth what you'd pay to replace them with new stuff.

I think he said that we will review it, I suppose this is to see if I go over the amount that is exempt.