Pretty sure I'll be made an asset case. Do I go a head and have things appraised or wait until the trustee orders it?
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If you think no one cares about you try missing a couple of payments. -
I will probably be an asset case. If you are talking about a house, you can get a real estate agent to give you an evaluation of the current market value rather than hire an appraiser. I did this and it didn't cost me anything.Originally posted by bkpain View Post
The Trustee may order an appraisal, anyway. I just didn't want to end up having paid for an appraisal and TT ordering another one that I would have to pay for again. And if TT accepts the real estate agent's evaluation, then I'm not out any money.
As for other items, you would go by garage sale prices. In the case of jewelry that is real and not costume, well, you could see what a pawn shop would offer for it. Don't be surprised if it isn't as high as you think it will be. I was once offered $20 by a jewelry shop for an engagement ring setting(I was trying to come up with money for a Christmas tree in 2008) that was appraised at $500. I kept it. I still have it. And will only list the value at what I was actually offered for it when I went to sell it. -
Can I be nosey and ask what makes you both think you will be an asset case?
My hubby is freaking out about this thinking they are going to send people into our house to search everything and leave taking it all with them...arg. Stressing me out!
We have the basics with some nicer things thrown in, but nothing major. Should I be more worried than I am?Comment
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For my case, I am filing solo and Florida only give $4k exemptions, I have an S-corp, 2 cars, a paid off time share, a stock account and a boat. We have more crap but this stuff is in only my name. Unless a miracle happens I will be an asset case I have been told.If you think no one cares about you try missing a couple of payments.Comment
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Originally posted by munchkn813 View Post
My house supposedly has equity that is over the exemption amount.Comment
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