Arizona Exemptions? No Wildcard? No Federal?

[rhp]

I'm filing a CH7 in AZ. How do I list things like my laptop, ipod, and printer? Arizona has an exemption for typewriters and radios, but nothing for computers.

It's all used and not worth much, but I want to list it the right way.

[daylate]

The federal law defines household furnishings (i think-it may be goods) to include one personal computer (and related items) so I'm guessing you would include it under that category. Other thing to keep in mind is that pc's rapidly lose value because of advancing technology so unless you just bought a mega-gig hummer within the last few months, my guess is it is worth so little that no trustee would want it. Same with ipod unless it is almost new. If not can you use part of your wildcard?

[rhp]

I see personal computer listed under "household goods" in the NOLO book, but isn't that just as a federal exemption? If I understand correctly, Arizona has no federal exemptions. And no wildcard.

Is it still OK to list these items as household goods exemptions in AZ?

From NOLO

Household good. As an exemption category, an item of
permanent nature (as opposed to items consumed,
like food or cosmetics) used in or about the house.
This includes linens, dinnerware, utensils, pots
and pans, and small electronic equipment like
radios. Many state laws specifically list the types of
household goods that fall within this exemption, as
do the federal bankruptcy laws.

[rhp]

You are correct though. Not worth much at all.

[despritfreya]

Such items are not exempt in AZ unless you can classify them as "tools of trade", however, they are of inconsequential value therefore a Trustee is not going to liquidate them. Value based upon "garage sale".

Des.

[rhp]

Such items are not exempt in AZ unless you can classify them as "tools of trade", however, they are of inconsequential value therefore a Trustee is not going to liquidate them. Value based upon "garage sale".

Des.

OK, I see. So i can list all of my non-exempt, nearly worthless stuff and not have to worry about having to buy it back or anything. Good to know.

[maffy]

Check on Craigs list, salvation army and garage sale prices to get a "real" amount you could get for it in those places and they you'll find they won't be worth much. As Des mentioned above, those are items you probably don't need to be concerned about being liquidated... very nerve racking though, I have to admit filling in the household goods area was the part I struggled with the most! I just filed last week in AZ and now it begins... wishing you the best with your filing!

[rhp]

Check on Craigs list, salvation army and garage sale prices to get a "real" amount you could get for it in those places and they you'll find they won't be worth much. As Des mentioned above, those are items you probably don't need to be concerned about being liquidated... very nerve racking though, I have to admit filling in the household goods area was the part I struggled with the most! I just filed last week in AZ and now it begins... wishing you the best with your filing!

Thanks. Good luck to you, too!
How far did you go with itemizing stuff? Did you just have categories, or list every lamp and shirt? just wondering what they like to see in AZ for this.

[maffy]

Thanks. Good luck to you, too!
How far did you go with itemizing stuff? Did you just have categories, or list every lamp and shirt? just wondering what they like to see in AZ for this.

rhp - yes, I went through each room and listed furniture, lamps, etc. There are a few areas that I listed as misc (nic naks, candles, cds etc). These have no real value to the trustee, but I didn't want to exclude them as I didn't want to appear as not being thorough. You'll do just fine, and look at the exemptions list for AZ to give you an idea of what not to forget...).

Now is not the time to overvalue your possessions (not because of sentimental feelings especially) ... from what everyone of here mentions, trustees are looking for assets of worth that they can sell to help repay your debts, not go through the hassle of having a garage sale of your possessions...

I will know more after my 341, so all I can do is wait, but at least I'm moving forward and ready to start my new life. I'm sure you feel the same. Keep us posted!

[rhp]

rhp - yes, I went through each room and listed furniture, lamps, etc. There are a few areas that I listed as misc (nic naks, candles, cds etc). These have no real value to the trustee, but I didn't want to exclude them as I didn't want to appear as not being thorough. You'll do just fine, and look at the exemptions list for AZ to give you an idea of what not to forget...).

Now is not the time to overvalue your possessions (not because of sentimental feelings especially) ... from what everyone of here mentions, trustees are looking for assets of worth that they can sell to help repay your debts, not go through the hassle of having a garage sale of your possessions...

I will know more after my 341, so all I can do is wait, but at least I'm moving forward and ready to start my new life. I'm sure you feel the same. Keep us posted!

I know, it was hard to list my dog as being worth $30. Thanks again.