personal possession value

[violetcat65]

I am in the process of filing Chapter 13 and I am working on filling out the questionaire for my attorney, but I had a question about the value of personal possessions. What is the rule of thumb for assigning value? Do you price it out based on selling at a garage sale or ebay? What happens if you are over the allowed amount of $9850.00? I live in Florida so this is the amount I have come accross. Also what happens if an item is valued over $468.00?

[SinkingFast]

Are you asking about Household goods?? Clothing?? Vehicles?? Jewelry?? What type of personal property??

[violetcat65]

I am referring to household goods, clothing, furniture, cd's, craft supplies, etc

[SinkingFast]

Think or your belongings in terms of "Where would I buy an 8 year old sofa??"

Garage sales, yard sales, 2nd hand stores.

And you don't have to break out all items.

Lump all your kitchen items together as you run your inventory. If you bought replacement stuff at a garage sale, total, what would you spend?? $100??

Same with clothes. Unless you have designer fashions or fur/leather coats, your clothes are probably only worth about $100/person.

Just a tip,............ The average household, for BK purposes, ranges in value between about $2K up to about $3500.

[violetcat65]

ok, thanks for the info