When Trustee wants an asset.

[Despotes]

What is the likelyhood of a Trustee wanting a washing machine (paid 700$ 7mos ago) and will they personally come over to pick it up?
Same applies to other inconvenient to transport items. TV ect. Maine only has a $200 allowance for TV's.

http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ZIP=04967&CITY=Pittsfield&ST=ME&FEDCT=ME&FIPS=23025&LOC=926&LOCNAME=Somerset&SUB=3472&SUBNAME=Northwest+Maine&REG=3283&REGNAME=Western+Maine&CBSA=0&METRO=

[justbroke]

Very unlikely. Worse case, is that you make an offer to the Trustee to buy them back for less than 50% of what you scheduled them at.

Besides, your $700 washing machine was worth $350 the day it was installed at your home. Then it depreciated, and is worth about $250 now. I wouldn't even offer the Trustee anything for it, since you get $200 and it's worth $250. That leaves $50 and the Trustee would just spend too much time dealing with it. Worse case... offer $25.

Same goes for any other "appliance" you think is worth alot. The Trustee may not even care. Again, if the Trustee cares, offer less than 50% of the difference.

[Despotes]

I hope you're right. Thanks.

Also, I don't have any money for an attorney and I'm still paying my credit cards. When should I stop in order to save money for an attorney?
I keep putting this off since it makes me sick to think about it. I've always paid my bills, but this debt is impossible to get out of.
Thanks again

[tigergem]

I would say stop paying them now. You already know you are going to file, right? And don't feel bad. Believe me, your creditors do not care about you.

[justbroke]

Stop using and paying credit cards, as soon as you know your filing. I'll caveat it though. If you made large purchases on those credit cards, recently, and it wasn't for living expenses, then you should make a few more payments before stopping.

You should then take the money you're saving from not paying the credit cards... to hire an attorney!

[BCA2009]

Very unlikely. Worse case, is that you make an offer to the Trustee to buy them back for less than 50% of what you scheduled them at.

Besides, your $700 washing machine was worth $350 the day it was installed at your home. Then it depreciated, and is worth about $250 now. I wouldn't even offer the Trustee anything for it, since you get $200 and it's worth $250. That leaves $50 and the Trustee would just spend too much time dealing with it. Worse case... offer $25.

Same goes for any other "appliance" you think is worth alot. The Trustee may not even care. Again, if the Trustee cares, offer less than 50% of the difference.

An interesting thing I learned in my district (at least my trustee). He will not let you pick and choose which items you want to exempt, nor negotiate individually for them. If your personal assets exceed your allownace (1K per person in FL). You can either pay the trustee the difference and keep all of your stuff or he will auction it all and give you $2K (for a couple) in cash to bid on the stuff you want to keep.

I guess it is just too time consuming to try to look at values of individual items.

[Despotes]

Stop using and paying credit cards, as soon as you know your filing. I'll caveat it though. If you made large purchases on those credit cards, recently, and it wasn't for living expenses, then you should make a few more payments before stopping.

You should then take the money you're saving from not paying the credit cards... to hire an attorney!

I haven't made any individual purchases worth over $200 in the past 5 or 6 mos.

How long would I have before the CC companies try and garnish my wages?

[justbroke]

I guess it is just too time consuming to try to look at values of individual items.

Laziness.

[justbroke]

How long would I have before the CC companies try and garnish my wages?

If you're up to date now, then it could be 6 months or more before there's even a lawsuit started.

[Despotes]

I'm up to date.

I just need to complete the Means Test fully to make sure I qualify. According to my state, the 1st part of the Means Test Calculator (monthly income) says I qualify, but I'll finish the rest of the lengthy form to be sure.

http://www.legalconsumer.com/bankruptcy/bankruptcy-means-test.php?ZIP=04967&CITY=Pittsfield&ST=ME&FEDCT=ME&FIPS=23025&LOC=926&LOCNAME=Somerset&SUB=3472&SUBNAME=Northwest+Maine&REG=3283&REGNAME=Western+Maine&CBSA=0&METRO=#TotalIncome

Thanks