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When. Where. To explain

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  • When. Where. To explain

    I am doing a pro se filing.

    Where or when am I asked for explanations? For example...a worthless car. Do I write an attachment to explain everything wrong with the car? Including the fact that I don't actually have the title or car in my possession. Or do I simply put down its value at the crusher and wait to be asked about it?
    I have had a family member use my checking account for a few transfers last year. I show the money transferred in..I have all the deposit and/or western union receipt for that same money transferred out, When and how do I explain it? Attach a letter to those bank statements? Include copies of receipts? None of that money was ever mine. Do I even mention it? It is not on my taxes...so I don't know if I am causing trouble to wait till it is questioned or causing trouble to write an explanation up front. I have several pieces of jewelry that no one will offer me money for. I thought to take them to a pawn shop and get offers so that i would know what value to write down...but the pawn shops do even want them. Do I write them down, or ignore them? When or how do I include an explanation? If ever?

    Filling out the forms seems straight forward. Explaining the differences is less than obvious.

    I have no problem with laying it all out. Just don't know when I am supposed to. Advice is to answer yes and no at the 341..nothing else. Ok, but does that mean it is all going to be more drawn out with questions later? Is it wise to wait till the trustee sees my taxes and my bank statements and question it, or try to either tell it all first or write it all down as attachments?

    One last question. If I write that worthless car down as a gift last year...and it is disputed...can I amend to include it in my wildcard exemption after the fact?
    Since I do not have possession or it or the title. Should I explain it on an attachment first, or wait till after and then explain it?

  • #2
    I had a couple non-running vehicles to list for my chapter 7. On schedule B no 25, he put

    1982 Dodge Ram
    Mileage unknown
    (inoperable, missing parts)

    1978 Honda CB750
    Mileage unknown
    (Inoperable, missing parts)

    1977 Honda CB750
    Mileage unknown
    (Inoperable, missing parts)



    For the value, he put between $50 and $100 for each. Those were scrap values I came up with, and the attorney was fine with that.

    He did not try to exempt the vehicles on Schedule C. My thought was that if he drug my old, non-running vehicles off the lot for such low values, that they would be doing me a favor. And if they had such a sentimental value, I could try to buyback (not sure if that is the right word) them from the trustee.
    Chapter 7, above median, no asset. Discharged with no UST involvement.

    Comment


    • #3
      If trustee wants that car...I cannot give him the title..I do not have it. Nor can I turn the car over either...I do not have it.
      I remains in my name (last registration) but isn't really mine? I gave it away, but because it cannot pass inspection...the title change never happened. A review would show my name on it.

      This is my point...I have a few discrepancies. Compare the list of cars I own with my claim...without an explanation, how will that go over?
      Compare my bank statements with my taxes...without an explanation, how will that go over?

      Is it better to write and explanation up front. Like an attachment .... Or wait till asked and then explain?

      Do I just forget about the jewelry that no one wants? Or write a near zero value? Then explain why no value? In an attachment or after I am asked?

      I read that the trustee doesn't like having to chase the filer for info...but I also read that just yes and no answers in 341 is the way to handle it. Which way should I go?

      Comment


      • #4
        Keep it short and simple--no long explanations. Do it just like TXskyblue suggested. If you are asked to explain further, it will happen at your 341 meeting. That is all you need to do. Now when you are filling out your forms, you can do it by 'groups'. I was diligently detailing our belongings right down to the 'paring knife with the broken tip.' Our attorney--who was mostly worthless--was spot on with her comment: "No, no, no, list only groups such as 'Kitchen--assorted pots and pans; assorted kitchen utensils, dinnerware, and stainless steel cutlery".

        That is basically how we listed things.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

        Comment


        • #5
          I will add that the trustee didn't even bring up the vehicles at the 341. My lawyer advised me beforehand that he might, but not a word was said about them. I don't think the trustee cares much about low value things like that, unless he thinks you have a mint 64 Cadillac that you're undervaluing or something.

          Chapter 7, above median, no asset. Discharged with no UST involvement.

          Comment


          • #6
            Remember to give everything a very low value--as if you are having to unload all of your flea market items before the rain clouds on the horizon dump on you.
            "To go bravely forward is to invite a miracle."

            "Worry is the darkroom where negatives are formed."

            Comment


            • #7
              Angelina...."give everything a low value". How do I square that with going out and getting quotes on things? For example...I asked a local jewelry store to give me a ball park on what I could get for my jewelry. (They want $100 a piece to do a full eval per item). I only wanted to know their take on what I could get for them in a eBay or Craigslist posting. For all my jewelry combined...I came up with 6K 4k for two rings, the rest is misc. Obviously, a pawn shop would be very quick but also very low ball.

              As I have enough federal wild card to cover all these items. I just went with that. Does a price tag like that raise an eyebrow? Should I go and get a pawn shop to give me a quote?

              From reading here, I get that the trustee doesn't want to deal with little stuff. Does 6K jewelry still fall below the radar you think?

              As an example..... I remember reading somewhere the trustee likes to use the nada fair retail value for cars....which I have seen for myself is far and away higher than the real amount the car could ever sell for.

              Comment

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