Listing personal property

[busybees5]

If I owe more on my vehicle than it's value how do I go about listing it as personal propery? I am filing without an attorney.

[originalhealer]

I think throughout the schedules you list it at the amount you have left to finance, and under personal property, you list it at value (trade-in value). At least, that's how I did mine, but I remember it was kind of tough, I had to do some research.

I know you list it at value under personal property, because all of your property should be listed at value on that schedule.

[skincomplicity]

Why would you list it as personal property, is there no lien on it?

[busybees5]

skincomplicity --
Are you saying that vehicles with a lien are not considered personal property?

[skincomplicity]

If there is a lien, it would be considered secured property and should go on schedule D. You wouldn't list it again on schedule B.

[StaciMM]

The vehicles were listed on my sched. D, with value in the same box that gives the vehicle description. The 'amount subject to claim' is how much is owed, and the 'unsecured portion, if any' is the amount that is over the value. So if value is $5000 and you owe $7500, $2500 would be unsecured.

[sunshine08]

To get a nestimate of value try KBB or NADA. You have to split the value into secured and unsecured debt. (trustees don't want to do anymore work than necessary - they leave it to you to do all the work)