Assets and other Questions

[JimH]

When you use Kelley for vehicle values. Use the "Private Party Value", not "Retail". "Trade In" is what I like to pay but post 10/17 now we're supposed to use FMV.

[SinkingFast]

When you use Kelley for vehicle values. Use the "Private Party Value", not "Retail". "Trade In" is what I like to pay but post 10/17 now we're supposed to use FMV.

OK, so I used the Private Party pricing instead of Retail. KBB has a 16 question quiz about the condition of each vehicle. If I go thru and answer each question truthfully, about the condition of each vehicle, the 3 older ones are what KBB considers poor condition. They run fine but need some cosmetic repairs. The 2 oldest ones have rough upholstery, some dings and rust spots. Hubby's truck needs some cosmetic attention as well. Paint dings and the bumper is peeling. All 3 vehicles have been mechanically manintained, but the cosmetic issues throw all 3 vehicles into Poor Condition with the Value then being "N/A". Does that mean the vehicles have no value???

[bkfiler]

the trustee will evaluate it at whatever he wants to. he will take it if he thinks its worth it.

in the meantime start printing and collecting everything you have to support the price you think its worth. ads, newpaper, online, kbb, auto-trader, etc.

[SinkingFast]

I kinda guessed they would find a way to anything worth something. So, when I did the KBB thing, I copied and saved the Fair Condition Value for each. That seemed more realistic than "N/A" and the $$ values look to be in line with what I'm seeing in newspaper ads for the 2 older vehicles. Hubby's truck is a different story tho. I'm only finding dealer ads for club cabs and 4x4's. His is a regular cab, 4x2. It's tough to get a handle on that one.

I wondered about getting an evaluation from a dealer. Maybe that would help establish a value for us.

[bkfiler]

if it helps then keep it. if not then trash it becuase its probably not fair anyways.


(hey aaart, how was that wording for ya? )

[sunshine08]

Keep this in mind when you go to the 341:

Questions asked (especiallyl if you go to a meeting that has the same trustee that you will have.(

Watch the lawyers there - see how/if they are well prepared - not knowing what they should know

How familiar they seem with their clients & cases

Most importantly - Is how the trustee treats the attorney & his cases

It will be readily obvious how well prepared the attorney is with what he is doing as well as how familiar he is with "your" case.

Those mill lawyers is not what you want, what little knowledge they have in your case may be how briefed they were by say the paralegal or secretary just before court. During ours - it was obvious that some attorneys may have looked it over, some hadn't bothered. Noticed one case in particular, if I had been their client, I would have wanted my money back, not only was the attorney ill prepared, the client answered all the questions and provided all the copies of the paperwork, the attorney was even "missing" some pages of the petition.

Good luck.