Where are schdeules a,b,c,d? I don't find them.

[SamanthaJones]

Also, am confused about listing values of property- on the committee notes section of the court, it says use replacement value?????????

[BKTango]

If you need help in finding any forms, they are listed here and you can print them http://www.uscourts.gov/bkforms/bank....html#official

Schedules a,b,c and d are you real property, personal property, property claimed exempt, list of creditors holding secured claims...I think that is correct.

As far as value of your property are your referring to personal...or actual real estate property? As far as personal property goes (everything you own in and around your home) use garage sale pricing only. As far as real estate of course use either an appraisal price or in some courts it is okay just to use the figure from your property tax bill (that's what we used).

[bige1030]

I think the new law requires you to use "replacement value" for personal property - but when I filed, my lawyer told me to tell him "garage sale value" for my stuff.

[JollyGG]

If I wanted to replace my 10 year old couch with another 10 year old couch of similar condition where would I find one?

Answer: Garage sales

[BKTango]

If I wanted to replace my 10 year old couch with another 10 year old couch of similar condition where would I find one?

Answer: Garage sales

For some reason I laughed really loudly when I read this. Our entire living room set including tables are those huge monster wooden beasts from the mid 70's and I am quite sure I would DIE if I seen someone else had this stuff. I think I valued the whole lot for $100.

[JollyGG]

For some reason I laughed really loudly when I read this. Our entire living room set including tables are those huge monster wooden beasts from the mid 70's and I am quite sure I would DIE if I seen someone else had this stuff. I think I valued the whole lot for $100.

Okay, I admit it - the only place to find a couch to replace the one I have would be at the dump. But, hey a girls gotta have somewhere to sit. I valued mine at $15 in my petition. When I responded earlier I assumed the person asking the question had nicer stuff than I do.

[SinkingFast]

Samantha,.............. The absolute best piece of advice I can give you about filing out these forms is,.............. Look at filings done by attnys on PACER. You can see how pros complete the Schedules. That's a very good indicator of what your Court is used to seeing in the way of values and what Statutes to apply to different things.

PACER costs a bit of money, but it can be well worth the cost if you learn a lot and complete your BK Petition correctly.

[bige1030]

Okay, I admit it - the only place to find a couch to replace the one I have would be at the dump. But, hey a girls gotta have somewhere to sit. I valued mine at $15 in my petition. When I responded earlier I assumed the person asking the question had nicer stuff than I do.

I have a collection of computer parts that aren't worth very much (good luck to anyone who would want to sell them!), but had I filed alone, I wouldn't have known how to value them. It's like...would I use the garage sale value? Or eBay value? Or refurbished part retail value? The way I read the new law would seem to indicate "refurbished part retail value" - and I'm glad I used an attorney because I would have overvalued my parts (which my attorney considered household goods...and that was unclear to me, too, before hiring him).

[SamanthaJones]

Value of possessions:

I value my houseplants more than my furniture- think they'd take my palm trees to pay my debts??????

[bige1030]

Probably not...they're household goods still, IMO. And besides, the thing to think about is...will they sell? Whenever you have a potential non-exempt good, if you're worried about having to give it up, ask yourself first: will it sell quickly for enough money to be worth something to creditors? If not, you don't have to worry about it. (Of course, you still list it...but the trustee will abandon it if s/he can't get anything out of it.)

[SamanthaJones]

I'm not sure- how does the property end up for sale by the trustee?

Say for example, my palms are nonexempt (say they are worth thousands, just for the sake of argument) and the trustee wants to sell them. Would he have them phyically removed from my house? Taken somewhere, like an auction house? Or maybe just advertise them for sale somehow? This is definitely a concept I have not seen any mention of in here- the actual process of taking physical property (not including real estate)?

[SinkingFast]

There was a Member who posted here when I first joined. He was told specific items he had to turn over. Where to take the items. And when they had to be turned in.

Scooter's post. Page 2. Post #22 of this Thread:

http://www.bankruptcyforum.com/showt...&highlight=410

And then there was the Poster, Bubbly. Who the Trustee went after them for garden tools and other personal property listed on their Schedules.

http://www.bankruptcyforum.com/showthread.php?t=6257

And the story continues:

http://www.bankruptcyforum.com/showthread.php?t=6332

There haven't been any similar posts recently. IMHO,........ It's because attnys and the Trustees have been adjusting to the New Law. We may likely see similar posts popping up in the future once everyone gets used to the New Law.

[SamanthaJones]

Good clues, Sinking Fast-

I can see dropping jumk off at a central loaction, only for them to haul it to the dump?

[coma]

I thought I read somewhere that purebread dogs are considered assets, I guess because they can generate income. I can see why, but I'd train my dog to bite any trustee that wanted to take her away!

[SinkingFast]

I can see dropping jumk off at a central loaction, only for them to haul it to the dump?

I doubt that. Probably so the items can be sold.

During our Consult, our attny told us where the local Court collects items for sale. Once a month, or so, there's an auction where seized items are sold. Our attny even mentioned the auctioneer's name in a "familiar" sort of way.