Petition Review Today Schedule B Question?

[tightgrip]

Today the paralegal is going to call around 11 so we can go over the petition and correct everything on it. I have a question regarding the summary of schedules and personal property. Under autos/assets they have listed our vehicle that we pay on and plan to keep in the BK. Is that supposed to be in that category? I thought it was just the stuff you own out right? This part is really confusing me. We owe around 20k on the vehicle and its worth about 13k-14k and in the Schedule B personal property it shows our vehicle and it states current value 13,670? Can someone please help me is this supposed to be in there? Plus they have it marked as surrenederd and claimed as exempt. I am soo confused and don't understand this part with exemptions. Do they include your vehicle that you are paying on as an exemption? We are trying to use our vehicle exemption for our car that we own which is around 3000 value?

[justbroke]

Schedule B is for Personal Property. Everything gets listed that you own, regardless of whether it is encumbered by some sort of lien or loan. So on Schedule B, you list the Current Market Value, which you stated was about $13K anyhow. Then you list how much of the value is unsecured, based on which encumbrances (loans) it has against it.

Just let the para know what you're trying to do with your unencumbered vehicle and perhaps they can move the exemptions.