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    Hobby stuff?

    I have a fair size model railroad and of coarse I would like to keep it and all that goes with it. The locos are the most expensive part of the hobby and all mine are basic with no excessive value. This has been built and collected over many years but none of it is considered collectable, just part of the hobby.

    How would this be valued?
    11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

    #2
    Are there model railroading magazines, blogs, or websites that attract other train hobbists who could help you set a reasonable market value for what you have?

    As long as you can protect what you've collected under your state's bk exemptions, keeping it won't be a problem.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      OK, on this matter, how would anyone disassemble this thing and have anything worth reassembling? Check eBay for each unit and then depreciate it to scrap toys. (Don't misunderstand), This is how the Trustee would look at it. How many RR nuts are out there who would come to an auction for your setup, disassemble to sell? I would value it at "haul off prices". The Trustee would probably abandon it and I would not even use the junk value of it for exemption. Tell the Trustee, it is really a past time and he could have it. He won't want it. 'Hub
      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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        #4
        Thanks for the responses. It would actually be worth very little upon tear down as it usually renders the individual components useless. Now the locos, cars, and control system can be valued on something like ebay. I will take some time to set a value to see if there is enough to worry about I guess. I have seen some on this site mention a wild card. Could this fall into that catagory and could many different items fall into that?
        11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

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          #5
          Welcome spidge - another new member from the IE.
          Chapter 7 filed 10/21/2008
          341 - 11/26 went smooth NO ASSET
          Took 115 days after 341 - But Finally DISCHARGED 3/25/09

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            #6
            relief13035, Thank you.
            11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

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