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    Pool

    I put up an above ground pool for the kids approx. 1.5 years ago. $ 3500.00
    dollars.
    Filing chapter 7 soon. On the paperwork for the lawyer it ask about pools .
    How much should I list as a value ? Are they talking about nice inground pools ?

    How would they come get the inground or they could take down the above ground. I am sure I am overthinking this.

    Why would pools be listed on assets form ? Thanks

    #2
    It's an asset because it's personal property and worth $$$. As to what the value of an "installed" above ground $3,500 pool is worth, you'll have to check into that yourself. I wouldn't think it's even worth $1,750 let alone $1,000 at this point in time.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      You wouldn't find someone to pay 250 bucks for an above grd pool. Once torn down they never seem to go back together. I have seen a few of them (nice ones too) sell for 50 to 100 bucks, nothing more. Of course the Bk court may not buy that amt, but I would list it at 300 bucks tops.

      Comment


        #4
        Originally posted by PolishMan View Post
        I put up an above ground pool for the kids approx. 1.5 years ago. $ 3500.00
        dollars.
        Filing chapter 7 soon. On the paperwork for the lawyer it ask about pools .
        How much should I list as a value ? Are they talking about nice inground pools ?

        How would they come get the inground or they could take down the above ground. I am sure I am overthinking this.

        Why would pools be listed on assets form ? Thanks
        An inground pool is not considered an asset. It does add value to home however. Well, it always adds value to the tax man, it can add, stay the same, or deduct from the market value depending on the area you are in.

        An above ground pool on the other hand is considered personal property. As such, it would be an asset that needs to be listed. As pointed out, the resale value of an above ground pool is not going to be very much.
        Filed CH13 - 06/2009
        Confirmed - 01/2010

        Comment


          #5
          More than likely the Trustee would abandon that item. It is not worth an attempt to convert it to cash. List it for what you would buy it today for in the condition it is in today. 'Hub
          If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

          Comment


            #6
            We have an above ground pool that I listed for $300. Its a 24 foot round 54 inch deep. It sprung a leak this winter and may have to be taken down this spring if the leak is anything more than a small rip in the liner.

            I really thought $300 was a fair price for a six year old above ground pool in a dismantled state, which would include the pump and all accessories. I know that if it were us and we were looking for an above ground pool and were able to afford the liner and sand $300 would be a great deal. But I don't think we could get much more than that. Also I think the size matters. For something fairly small I don't think the used value would be as high. Ours is pretty big.

            p.s. I don't know the original price for our pool. It was given to us. We took it down at the owners house, moved the parts to our house, leveled our yard by hand ourselves, and put it up. It cost us the liner, the pad beneath the liner, and the sand. That was a good deal! : -)
            Filed Chapter 7 April 29th, 2010
            341 June 1st, 2010
            Report of No Distribution June 2nd, 2010
            Discharged and Closed 8/10/2010

            Comment


              #7
              Originally posted by jdcat View Post
              We have an above ground pool that I listed for $300. Its a 24 foot round 54 inch deep. It sprung a leak this winter and may have to be taken down this spring if the leak is anything more than a small rip in the liner.

              I really thought $300 was a fair price for a six year old above ground pool in a dismantled state, which would include the pump and all accessories. I know that if it were us and we were looking for an above ground pool and were able to afford the liner and sand $300 would be a great deal. But I don't think we could get much more than that. Also I think the size matters. For something fairly small I don't think the used value would be as high. Ours is pretty big.

              p.s. I don't know the original price for our pool. It was given to us. We took it down at the owners house, moved the parts to our house, leveled our yard by hand ourselves, and put it up. It cost us the liner, the pad beneath the liner, and the sand. That was a good deal! : -)
              That made me laugh.
              Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

              Comment


                #8
                It's true.
                Filed Chapter 7 April 29th, 2010
                341 June 1st, 2010
                Report of No Distribution June 2nd, 2010
                Discharged and Closed 8/10/2010

                Comment


                  #9
                  I'd say definitely less than $500.

                  Trustee wants to know what HE could sell it for at auction. Chances are, not much.
                  Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
                  0% payback to unsecured creditors, 56 payments down, 4 to go....

                  Comment


                    #10
                    Here is a thread discussing a similar situation with an above-ground pool. In this case the questions revolved around was the pool considered an individual asset, or was it included in the overall valautipn of the home:



                    I hope this helps!
                    "To go bravely forward is to invite a miracle."

                    "Worry is the darkroom where negatives are formed."

                    Comment


                      #11
                      On the website for our county tax assessor our pool is listed as an improvement so must be considered part of our homes total value. I hadn't thought to check that until now. Might be worth looking into for others.
                      Filed Chapter 7 April 29th, 2010
                      341 June 1st, 2010
                      Report of No Distribution June 2nd, 2010
                      Discharged and Closed 8/10/2010

                      Comment


                        #12
                        You could just invite the T'ee over for a swim and let him/her decide. NOT.

                        Comment

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