Will creditors come into my house or look at past CC statements?

[SJM]

.

[Phillymanhere]

Hey there,
I appreciate your worry if you are new to considering bankruptcy. First of all, I recommend that you read through a lot of the forums here. That will help you get up to speed.
Second of all, you should schedule 4 or 5 visits to lawyers to discuss your situation. These initial consultations are free and you can learn a lot from talking to attorneys.
Now, I think you are jumping way ahead of the game. First, start with whether filing bk is right for you.
You will have to name your state for people to give you answers on exemptions. Just for the record, I have never read here about people having computers confiscated. Computers, beds, phones--those are personal property and typically protected under bankruptcy. Not sure what you're reading to give you an idea that you would have to give up a computer.
The bk court is looking for major money with which you could possibly pay creditors, and there are all sorts of exemptions depending on the state your'e in.
Also, figure out if you're eligible for a chapter 7 or a chapter 13.
But start with some research. Bankruptcy rarely requires you go give up a computer, bookshelf, tv, etc ....
Anyway, I've only been studying this for a month or so, so others will weight in who are better informed. But seems like you are getting way too technical too soon.

[magyar123]

Hi,

When I file for bankruptcy, will creditors come into my house and evaluate my assets or do I just list them? I have two computers and I noticed under law I can only have one after filing, but one of the computers is my kids'. Will items like that be taken away?

Also, my husband and I purchased items on credit over a year ago. . . will the CC companies look at statements that old in evaluating what must be given over to them?

Thank you.

No, they will not come to your house. On your list of assetts you can give an approximate value as of the date of filing. Take a wild guess as far as the values are concerned - NEVER EVER list the original purchase price.

[lrprn]

When I file for bankruptcy, will creditors come into my house and evaluate my assets or do I just list them?

No creditor will ever come to your home. The only person who even has the right to come to your home is your trustee, and then ONLY if there is some suspicion that you were hiding valuable assets there. The chances of a trustee coming to you home is about the same as a meteor hitting your house today

I have two computers and I noticed under law I can only have one after filing, but one of the computers is my kids'. Will items like that be taken away?

I don't know where you found this information, but it's wrong.

When you file, your state has bankruptcy exemptions that protect household belongings like computers, TVs, etc to a certain $ limit. If you tell us which state you live in, we can direct you to your state's exemptions.

The average US household typically has $2000-3000 of goods. When filing bankruptcy, household belongings are priced at their resale value, not their original purchase price. Unless you have valuable art work, furs, etc, a lump sum estimate is fine.

Also, my husband and I purchased items on credit over a year ago. . . will the CC companies look at statements that old in evaluating what must be given over to them?

If your last credit card purchase was a year ago, the purchases were not expensive luxury items, and you've made at least several payments since then, then you have nothing to worry about.

[SJM]

.

[SJM]

.

[lrprn]

I'm in WA state

Good that you are both filing - Washington is a community property state.

Here's a link to the current WA exemptions - they are actually quite generous, especially in the personal property area - http://www.washington-bankruptcy.com/exemptions.html

Also when you live in WA you have the choice to use the federal exemptions instead if you wish - http://www.washington-bankruptcy.com/fed.html . You can't mix and match - it's one set of exemptions or the other.

(and I'm not on the house loans, so hopefully my husband's credit is the only one that shows a foreclosure).

That should be the case. If the foreclosure shows up on your credit report, then dispute it immediately.

[PaKettle]

It's rare that anyone checks on statements or anything else. They pretty much take you at your word as to what you have in your home, etc.. and anyway most of that stuff is exemptable and no company wants to repossess used computers and used furniture, etc... unless it's a mom and pop shop maybe...

Unless you are hiding major assets in your home, no Trustee is going to show up there.