Help Staci

[scrate36]

Ok we went to the 341 meeting this morning. The place that helped us prepare the paperwork and file the chapter 7 gave us a copy on saturday evening. Thus i was looking over everything last night and today. At the 341 meeting we fill out a form mostly yes or no answers. One that got me was if your preparer or attorney explained C exemption. When i looked at mine it was blank. I called them up quickly and they said that they missed filling it out. They said to tell them it was an oversight and we need to file an amendment. When we went up there. The questions asked did you read and sign your statements and schedules. YES Is there anything I need to know about. YES then i told him. The Trustee was really nice said with eyes wide open. Yes you need to fill out a C as this is blank. He then said if we listed all our creditors and assets. My wife said NO. As we have just started receiving a lot of medical bills from an accident my son was in in july. He again was nice even asked if our son was ok. We said yes. He said you need to fill out an ammendment and file it right away on sched C, F and submit a new address of creditors. Then said thats it. next.


Now my question i really dont want to go with the service i had as they are really slow and have made a lot of mistakes that we end up finding. Where can i get the forms c and f on computer to fill out. Then is there an ammendment form. Or do i just take them with the case number to the county court building. Also how many copies will i need to submit.

[StaciMM]

Most likely you'll submit the regular forms (C, F, creditor matrix) and mark somewhere on it 'ammended' or something similar. The best resource is to call your BK court clerk and ask. They can't give legal advice, but can tell you any procedural info you need to have.

You can find the forms for free online. THere may be a link posted in one of these forums-I haven't checked. Just use Google and search for 'Bankruptcy Forms' and you should be able to find some in PDF version that you can print out and fill in by hand.

Edited to add:

Schedule C is your list of exemptions, so it should use info you entered on schedule B for personal property. Schedule F is unsecured creditors. The matrix is just a list of names & addresses of the creditors.

[scrate36]

two more questions for stacy

Hi stacy i printed up the schedule c Property claimed as exempt. Agin i am in california. There are two boxes though one titled

11 U.S.C. S 522(b)(1) exemptions provided in 11 U.S.C. s 522(d). Note These exemptiona are available only in certain states.

11 U.S.C. S522(b)(2) exemptions available under applicable nonbankruptcy federal laws, state or local law where the debtor's domicile has been located for the 180 days immediately preceding the filing of the petition, or for a longer portion of the 180-day period than in any other place, and the debtor's interest as a tenant by the entirety or joint tenant to the extent the interest is exempt from process under applicable nonbanruptcy law.



Now i think i go with the first one 522 b 1 as the other says nonbankruptcy. But not too sure.


Also when i fill out new schedule f then list the creditors. Can i do this on an exel sheet. With the names and adresses on the left as i dont seem to be able to find a form.

[StaciMM]

I just checked my forms, and the 2nd box is checked. I used Form7, so it autofilled the box-I guess because I haven't moved and have lived in the same state for almost all my life.

Some states allow you to choose the federal or state options, that might be when you check the 1st box.

[Minera]

Here is the California options for exemptions. California has two sets of exemption options. You cannot do Federal exemption (option 1) for California.

http://www.bankruptcyinformation.com/CA_exemp.htm

[scrate36]

Ok good info on last post. Here is my next question. On the site it shows this

SYSTEM 2

NOTE: Married couples may not double any exemptions (se In re Talmadge, 822 F.2d 1120 (9th Cir. 1987);
In re Baldwin, 70 B.R. 612 (9th Cir. B.A.P. 1987)

However from what i heard we both can put down our cars as these are our personal transportation to and from work.

Then from what i have read

Motor vehicle to $2,775
703.140 (b)( (2)

Motor vehicle to $2775.00. Meaning if we both have cars worth about 1200 we would be ok. We would have cars that would barely run but ok. If the value of our cars is over 2775 what happens then. Is there anywhere i can write down work transportation.

[StaciMM]

I found 2 sites, (bankruptcyaction.com and bankruptcyinformation.com) which each list different auto exemptions. One said $1900, the other $2300. Perhaps call your court clerk to find out for sure... Or maybe this is where you got the $2775 from?

The value you should list is the fair market value, less the repair expenses. I think you had mentioned one needed $1200 and one needed $1800 in repairs. In reality, if you're a little over the exemption amount but can document the needed repairs, the trustee most likely won't want your cars-he wouldn't get much for them as he'd have to give you your exemption amount first.

So, if your car is worth $4000 but needs $1800 in repairs, it really is only worth $2200, and you can claim the full $2200 as exempt.

If your wifes car is normally worth $2500 but needs $1200 in repairs, then it is only worth $1300. You'll list it as an asset at $1300, and claim the remaining exemption of $575. So yes, technically, it would be in jeoopardy for the trustee. BUT if you document the repairs, it won't be worth the trustees time to bother. He would have to sell it, give you your $575, probably pay fees for listing it & selling it, and might not walk away with a profit at all.

Things to think about... If you claim that together they're worth exactly the same as the exemption amount it may throw up a red flag. And, make sure to exempt the full value of the most important vehicle.

[scrate36]

Ok then i fill our the schedule c use the second option type in the descreption enter the law for the exemption enter what we believe its worth minus market value. enter the market value. I know this is what is correct bare in mind the repairs. But where would i list the repairs needed to the car if i need to . Otherwise how would the trustee know what needs to be done to the car

[StaciMM]

You wouldn't list the repairs. However, if the trustee should question the vehicle value, you can provide him with repair estimates at that point.

[scrate36]

Staci how the heck did you figure all this out. Man the paralegal i used screwed up everything and does not know half of wht you know.

[StaciMM]

Its all 'out there' online-it can be overwhelming though when you first start trying to find it. I'm analytical by nature, work with #'s everyday, and am good at finding needles in haystacks!

I am annoyed, though, that the exemptions sites I check are wrong. There isn't even anything to indicate the date that they were taken from. For me, its not an issue-our stuff is less than 1/2 of what we were allowed! And, I would assume form7 has up to date info...