Jewelry

[ccaplinger]

What is the limit on jewelry value? I have my wedding ring which was purchased for $800. On Valentine's Day my husband bought me a necklace on sale at Kmart. He paid about $200 but it is worth $800. How do I report this? I am finished with the pre-filing counseling paperwork and about the mail it to the credit counseling service but wanted to check on this first.


I guess I should add it is 1 carat of diamonds.

[MomIcantFindmy]

jewelry is way over priced retail. If you would like to gauge the value in terms of your BK without actually paying for an appraisal then I would take it to a pawn shop and ask how much they would give you for it. It will at least give you some estimate. No matter what the estimate..if he paid $200 then that would be the max I would list.

[AngelinaCat]

It is my understanding that wedding sets are exempt. As for the necklace, you could probably consider it as 'good costume jewelry'. But I would also follow Mom's advice above and take it to a pawn shop. I doubt you would even get $200 for it.

[epiphany]

It is my understanding that wedding sets are exempt. As for the necklace, you could probably consider it as 'good costume jewelry'. But I would also follow Mom's advice above and take it to a pawn shop. I doubt you would even get $200 for it.

I think we had a poster here who's wedding ring (I think it was a wedding ring?) was taken. Can't remember who it was but she got it back.

ep

[b_girl]

I think we had a poster here who's wedding ring (I think it was a wedding ring?) was taken. Can't remember who it was but she got it back.

ep

Good grief! Is nothing sacred? What in the world was that trustee thinking??

I don't blame you for being worried...some of the trustees sound pretty scary. I agree about taking your jewelry to a pawn shop and getting an estimate from them...most jewelry is way over priced and oftentimes can only be re-sold for a fraction of what was initially paid.

[epiphany]

http://www.bkforum.com/showthread.php?t=23051&highlight=ring+back

ep

[Cali]

I figured it was a carat.

I had to take jewelry to see how much I would get for it.

What is the limit on jewelry value? I have my wedding ring which was purchased for $800. On Valentine's Day my husband bought me a necklace on sale at Kmart. He paid about $200 but it is worth $800. How do I report this? I am finished with the pre-filing counseling paperwork and about the mail it to the credit counseling service but wanted to check on this first.


I guess I should add it is 1 carat of diamonds.

[AngelinaCatHub]

I think we had a poster here who's wedding ring (I think it was a wedding ring?) was taken. Can't remember who it was but she got it back.

ep

Your wedding ring cannot be taken. The Trustee was wrong unless he did not believe that to be a your authentic wedding ring. Yes some things are sacred and jewelry is not a good investment to you or the Trustee.

[epiphany]

Your wedding ring cannot be taken. The Trustee was wrong unless he did not believe that to be a your authentic wedding ring. Yes some things are sacred and jewelry is not a good investment to you or the Trustee.

Maybe he took it because DivorceRuined me was (and just assuming this from the user name, could have been a ring from a current marriage, hopefully she'll chime in) divorced????

ep

[keepmine]

Nothing in the bk code spefically exempts wedding/engagement rings.
Some states may have a specific exemption but, for the majority of states it''ll come down to if the value falls under the personal exemption level.