????? about budget in a chapter 13....

[drowninginflori]

We are sceduled to meet with our lawyer for the second time to turn in the homework that we were assigned to collect and complete (listing debt, collecting tax returns for 4 years, listing assets, paystubs,......). However, no where in the paperwork is there any notations about our budget.

Are they simply going to go by the state info (we live in Florida) or will they take into consideration some of the other things that are specific to our case? I want to be completely prepared because we want to get our filing done as soon as possible. Any thoughts on this matter?

Also, we have to list the garage sale/resale value of everything in our home. I have been guessing at the figures for each item such as a 4 year old toaster but does any one know of a better place to track down that type of info (another thought about this is since we are filing chapter 13 why do we have to list these items?). Thanks!

[rrockinggramma]

You should make a list of budget items you want to be sure are included such as future braces for kids, etc. You will want to be sure you don't leave anything out. I am not familiar with Florida exemptions, but I am sure that the attorney wants to be sure you don't own anything that can't be exempted. When we filed, my ex husband had to list his guns and I had to list jewelry that was expensive, any antiques, the valuable stuff like that. I don't think he cares about 4 year old toasters.

[Flamingo]

I remember doing what you are doing and having a huge legal size page listing of questions as to evaluating all the items in our house. What we did was go from room to room and list the "Salvation Army" or "Goodwill" value of the furniture because they are used items and unless you bought the stuff the day before, it is worth much less than what you think it is. You can group appliances in your kitchen, etc. Our listing was broken down as to each room in the house including garage and then there were the sheds outside if you have any garden items. After turning the listing in, we found some of our items were exempted by our state (i.e., our piano, small bass boat).

Be honest and list everything. If you are unsure as to the value of jewelry or paintings or any artwork or heirlooms you may have, stamp/coin collections, etc., call a jewelry shop or appraiser in your area. If those items are valuable, you should have their value and get them insured on your house policy anyway.