Bankruptcy Forum

Assets Make Sence?

resetplz
07-31-2007, 04:42 PM
I'm trying my best to list my assets I'm wondering does this seem like enough or do you think I'm just missing something ? here goes
I used approx ebay values for used items like mine
PC(monitors printers and all) - $365
Cell Phone - $70
DVDs- $25
PS2(games and controllers)- $50 (it is beat to hell)
PC Desk and Paper Shredder(office supplies)- $45
Sport Equip(bowling pool old hockey stuff)- $100
Shoes(mainly Air Force Ones) $100 (probably more if you find collectors I guess)
Clothes- $75 like 7 jeans 5-6dress shirts I mainly wear Tees
Jerseys-$30 (not sure to include with clothes or sports stuff
DVD player- $5
Old School Books - NO CLUE ???????
Cds- $10 I have a few Retail Cds laying around
HS class ring - not sure how much ???

So Far at APPROX $875

Do you think i should include more or do you think i may own something I am forgetting ???
Also I think I'm the beneficiary of my Mother's Life Insurance Policy but she is still young do I need to put that ?
And as far as Cash will my trustee understand if I had cash but used it to pay my college tuition and i have receipts to prove it ??
THANX IN ADVANCE FOR THE HELP

SinkingFast
07-31-2007, 06:12 PM
The HS class ring,......... Take it to a jeweler or pawn shop and ask how much they'd give you cash to buy it right then and there. That would be your value. Most likely whatever the scrap gold price is unless you actually have real gemstones in the ring.

Clothes,........ It's typical here to say $100 total per person. No more than $150 max.

Personally, I'd skip listing the jerseys separately as sports equipment. Unless you're using them to play soccer or football or whatever sport, then they're just clothes.

resetplz
07-31-2007, 06:30 PM
Ok. Cool Thanx for the help anyone else have any clue about the life insurance thing ?

SinkingFast
07-31-2007, 08:21 PM
Both Hubby's folks and my Mom are older. Up in years. If they died, we'd inherit, along with siblings, our share of their estates. There's no official designation, no will, as to who gets what or how much that we know of.

The estates aren't large. Health issues could come into play. Any monies from either estate could be needed to pay medical bills, burial costs, whatever. There may be little, if anything left.

We discussed it with our attny and he recommended we say "No" to that question.

You don't know for sure if you're a beneficiary. Personally, I wouldn't ask Mom at this the status of her designation. You may have to pay for unforseen expenses. Since inheriting anything is only a possibility, you might be able to say "No" to the "Do you stand to inherit?" question.

Definitely a question to run over with an attny as you Consult around. Get their take on what you should say.

resetplz
08-05-2007, 10:38 AM
sorry it's been a while, just wanted to say thanx i'm going to put No, it seems to make the most sense, i'm just waiting for my certificate so i can go in and file i will let everyone know how it goes once again thanks alot sinking fast