How Do I Figure Out the Value of My Personal Property?
By Kurt O'Keefe, Attorney at Law on Aug 20, 2007 in General Bankruptcy Information
Whether you file Chapter 7, Chapter 13 or Chapter 11 bankruptcy, you must list all of your property and how much it is worth.
Ordinarily, that is rummage sale value, what would someone pay you for your stuff, just the way it is.
OK, but how do you figure that out?
Try craigs list. It covers virtually the entire USA.
Have a list to fill out, like this one, list.
If you have something that is not on the list, add it, by name and value. All this should be reviewed by your attorney before you file.
Do not worry about what you can keep. Give your lawyer the accurate information about your property, then he can advise you what exemptions apply, and whether the Trustee might claim some property in a Chapter 7.
You keep all of your property in Chapter 13 and Chapter 11, but the information is important and still must be listed accurately.
As to what exemptions apply, that is lawyer work. DO NOT TRY THIS AT HOME!
If you liked that post, then try these...
Louisiana Bankruptcy Exemptions in Chapter 7 and 13 Bankruptcy Cases (Part 1). by Kevin Gipson, New Orleans Bankruptcy Attorney
Paid a Relative Money Recently? Here's How to Fix It! by Craig Andresen, Attorney at Law
Another reason to file Chapter 13 by Cathy Moran, California bankruptcy lawyer
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