Chapter & Questions?

[Palmer7]

Hi
I have some questions on Chapter 7 Bankruptcy?

1. If you want to reaffirm a secured debt inorder to keep your property can you apply an exemption on the property?

2. When your are writing down all your personal property in Scheduale B how detailed do you have to describe or list your property.

I would apreciate advice and help on these questions?

Also if you have already gone through the creditor meeting I would love to know what the experience was like?

[keepmine]

If your state exemptions {or federal exemptions if that's what you're using} allow an exemption for that piece of property then, you are allowed tt apply it.

Just general values are good enough. Value your furniture as a group, clothing, etc. the same way.Most 341's are nonevents that take 5 minutes. You'll be asked to submit your SS card or other ID and asked a few questions. I was asked if everything on my petition was correct. Did anyone owe me money and could I sue anyone. That was about it.

[AngelinaCat]

Hi Palmer7:

Welcome to the forum. You will find a lot of good advice and moral support here. I will also add that our experiences are all a little different. And some of it depends on what state you are in and what exemptions are allowed. Read through the Stickys and the FAQs and perhaps you will find your answers there. Also suggest purchasing the NOLO book. I purchased the online version which comes in PDF format and it only cost me half of what the published price at a bookstore is.

Here is a link to a thread invlving a discussion about how detailed the property list should be. I should add that on another thread, one poor person is being made to supply photographs of her stuff.

http://www.bkforum.com/showthread.php?t=24342

We reaffirmed a car loan, and that wasn't a problem with the Trustee. Our meeting went well--not real grueling--but we were very nervous. But everything was handled professionally. If you search on my nickname and that of my husband, AngelinaCatHub, you'll get more of our experiences.

Good luck to you.

[Palmer7]

Thanks, Questions

Hi
I appreciate everyone's links and recommendations. I'm from Georgia.
If there is a property that is secured by a creditor and I want to reaffirm that debt than can I apply an exemption on that property or not. If anyones has any experiense with this for courts in GA I would apreciate your experiences.

If I submit my petition and have to make some ammendments would that effect the way the trustee would reveiw the case?

Can ammenments be made after the creditor's meeting?