Trustee checking belongings

[dmg]

My husband and I were wondering how many people here have had a trustee go to their residence and check on their belongings. My husband and I rent an apartment and only show approximately $1500 in possessions in our house. When I asked our attorney how we determine the value of our belongings, he told me that I could just estimate on how much it would cost to replace the object. He said that a good rule of thumb would be to go to Goodwill and see what they sell the possessions for.

A lot of our household goods were either given to us, bought at a garage sale or thrift shop, or bought new years and years ago.

I tried to list everything to the best of my ability, but I'm wondering if I calculated the value okay. How did you calculate the value of your household possessions?

Did the trustee visit your residence to check on it? I listed everything I could think of, I'm just hoping that I calculated the value correctly.

[Whittio]

I had trouble with that too. I just did all the paperwork for my mom to file BK, and literally, she doesn't have $2000 worth of stuff in her whole apartment. Granted, her apartment is FULL of stuff, but most of it is just junk.

Our house is currently for sale, we're trying to move from CA to TN, and we'll take my mom with us, and it came down to renting her a uhaul for $1000 or just replacing everything she couldn't get into her car. LOL

I think what I did was take the big items, (which you have to list separately). Like her sofa, entertainment center, TV, dining room table, bedroom set.. and just tried to think of what we could sell it at a garage sale for. Heck, we'll probably have to PAY to take most of her stuff to the dump if/when we move! ;)

[Minnymouth]

You are "worrying" too much!!!!
Trustee "rarely" ever goes to the home...........even in unusual cases......
Estimate the "value" of your used items. Let your attorney or a paralegal look over your documents and make their suggestions.....
You WILL BE OKAY! Calm Down, be patient, don't let your nerves get the best of you......
BK is nerve wrecking when you first start......then you realize it's not really that bad..... It's ALMOST PAINLESS for most!!!
It's the "UNKOWN" that makes us nervous!!!!

Got questions, just ask, we can help!!! Need moral support - that we can help too!!!

Minny

[poor1]

minny, do you know if the trustee checks all your accounts or investigates you to see if you have accounts or loans out there not mentioned in your petetion? i don`t have anything to hide i am just curious as to what extent they go through to check you out. thanks for you help!!

[Whittio]

If you don't have anything to hide (possessions or money) then why worry?

I know for a fact my mom doesn't have anything valuable or any undisclosed cash, so I am not worried at all. (although I might be worried if it was ME filing?) but I just had a hard time assigning values to everything. Like really, how much could a used sofa sell for? $50?? I just bought myself a new bed, and will try to sell my old set including the frame, head/foot-boards and bedding, the most I'll be able to sell it for is like $50 and that's because the frames are worth the most. So really, our used stuff just isn't worth anything.

[Minnymouth]

The Trustee has the "strong arm of the court" behind him, thus he has access to "anything" he needs to handle your case. He can ask you to produce it or he can find it himself.
If you act suspicious or try to hide info from him and he finds out - he can file to dismiss your case! Illegal transfers to other people or kids will send up a "red flag" for the trustee.
If you have a "nice boat" in the driveway and you "fail to claim it" - and he runs your ss# and there the title is - your dead meat!!! That is considered "fraud"!!
You have nothing to worry about if you file.
Just be honest, upfront with your accounts and income, etc.
Very rarely do you hear of a Trustee visiting a home.....
they really don't have time - and right now they are buried under in people filing before the deadline.....
So file, be honest, be patient, and soon it will be all over...

You are supposed to list ALL ACCOUNTS, ALL CREDITORS - even those with -0- balances but some do not list the ones with -0- balances... (this determines your income vs. expenses)
If you have accounts that you do not want to include in BK (say your home) they still have to be listed in most cases and then reaffirmed with the creditor or you have to maintain the payments on them to the creditor.
Just be honest - you won't have a problem............

Minny

[poor1]

well when we filed my lawyer ask me about our pets, which at the time i only had 1 dog, just a mix breed pound puppy which is my baby!!! lol

well last week i had a stray full blooded boxer puppy show up in my yard, no one has come to claim her yet, which my 4 yr. old son has grown attatched to, and yes i love her too.

i took her the other day to get shots and a vet check up, and i am just scared of them trying to say she could be a money making dog and make me get rid of her.. what are the chances of this happening?

[Minnymouth]

LOL
If the Trustee ask's at the 341 meeting if anything has changed since you filed.?
Tell him "yep", have another mouth to feed at my house - a stray pup!!!" I just couldn't run it off and watch it get killed....
As long as "you" have no "paperwork" on this dog - she is NOT A MONEYMAKER!!! She's a pet!!
Who knows, maybe the Trustee is a "dog lover"...........
I had a judge (he was head of the Humane Society) many years ago, who ruled on a case of my neighbor shooting and killing my dog..... Needless to say, THAT POOR MAN "paid the price".......DUH...... That judge asked him why he shot the dog - he said "I felt like it" -
DUH - WRONG ANSWER .................. for that judge to hear.... and he ruled accordingly.......
So don't worry, feed your pets, and you'll be fine....

Minny

[poor1]

good, lol

i know it kinda sounded silly to be worried over somrthing like that, but i love animals and where i live we get strays a good bit. i normally end up finding them good homes but my son loved this one so much i couldn`t break his heart and get rid of her. she is the cutest little thing..lol

thanks for the help, i guess we can go ahead and plan on her a keeper!!! yippy!!!

[Minnymouth]

Your Trustee is looking for assets that can bring "big bucks" for his creditors.......like land, boat, cash stash, etc.....
Enjoy that puppy - boxer's are really good dogs with kids!!! My friends have one.
"My girls" are dog pound rescuses too...............5 years ago they were on death row.......
LOVE MY BABIES,

MINNY

[hhou812hh]

Unless you have any authentic antiques from the colonial days, most of our personal belongings are worth garage sale prices. I moved several years ago and didn't need the furniture where I was going so all I can get for a sofa bed was $150 that I paid $1600 2 years earlier. That makes my $1600 sofa worth $150 since that's all anyone would give me for it. Most state exemptions allow you $5000 worth of household items, furniture, etc. so unless you have a couple of plasma TV's you have nothing to worry about.

[poor1]

someone was telling me one time that a friend of theres had 2 full blooded akc chihuahuas, well they were going through a bk 7 as well. they had to sell them babies to give the cash to their trustee, thats why i was so concerned about this.

to me animals are like family, i could not imagine having to get rid of my babies, i love them like they are my children!! it would kill me and my kids!!

[hhou812hh]

That's crazy! I think the exemption is $450 or so for your pet. Unless you own a race horse or a champion show dog I can't imagine this being an issue. I don't encourage people to commit fraud but yes I would LIE before giving my dog up. I may not get $450 for him but to me he's priceless! They may limit people that own 8 dogs or cats since these people can pay their creditors with all the $$ they are spending on feeding the zoo LOL

I wouldn't worry if I were you. This sound a bit crazy...

[Lightning]

A stray dog wanders into your yard, and you instantly know it's a pure bread whose offspring are worth money? I've seen lots of dogs in my life, but I can't tell a pure bread from a slight non-pure bread on sight. Are you a professional dog breeder?

Pets are certainly part of the family, but a stray that wanders into your yard in the middle of a bankruptcy shouldn't be exempt. Hopefully your county has a humane society where you can take the dog.

[FloridaGirl]

What is your problem, Lightning? What's it to you if she keeps the dog or not? Anyone who would expect a person to give up a poor, defenseless animal just because they are in the process of a BK, is heartless. How much could this dog possibly be costing anyway? I say it is bull-crap for anyone to be forced to give up an animal just because they had to file for BK. How horrible! That is like ripping someone's heart out. I just can't see how that is right at all.