So stressed

[oregongal]

In Oregon, household goods are only exempted to $3000 and not doubled. That adds up quickly with my four kids and we don't by any means have anything nice. We are $1000 over when including toys, arts/crafts/personal electronics. We are way under in personal property, can toys/personal electronics/etc be counted as personal? I guess it doesn't really matter if it is liquidated, but it raises my anxiety level (even while trying to keep calm, Frogger ). Calling all experts! Been using craigslist/salvation army valuation guide for price points.

[nikcool]

When I inventoried our things, I looked up an online inventory system and found values for a lot of my things. I can't remember what it was called, but our books were worth less than I thought. Maybe check online for how to value assets? Clothes are not worth very much and neither are books (IMO), unless you've got rare editions (We spent hours just valuing our book collection! Only three, out of hundreds of books, were worth more than a dollar or two, and those were an antique first edition, a rare book, and a franklin collection(?) book.) I also went to the actual code for my state, and categorized things in my inventory list according to the way code was worded. Even though I made a couple of mistakes the trustee did tell us we did a good job on the paperwork. I did a lot of searching and even found a trustees opinion on bankruptcy petitions.

This forum is full of good advice! I'm not sure what I would have done without it.

[ValleYum]

Spending today filling out personal property worksheet. Oregon exemptions are pretty tight especially with four kids (bedroom furniture, clothes, toys, books). I think it is time to join PACER and look at some Oregon petitions.

Peruse and print for your records local items from Craigslist. Most kid's room furniture and toys are valued waaaay less than you expect with the exception of vid games and the like. Have a good weekend!!

[frogger]

I think it is time to join PACER and look at some Oregon petitions.

Keep in mind, when you start opening and viewing/saving petitions, you're going to be spending 10 cents per page, and they will be charging you for the first 30 pages. You won't have to do many before the PACER fees are going to start eating you alive.

[oregongal]

Spending today filling out personal property worksheet. Oregon exemptions are pretty tight especially with four kids (bedroom furniture, clothes, toys, books). I think it is time to join PACER and look at some Oregon petitions.

[stray]

Yes, I agree you are probably overvaluing the guitar. You're allowed $600 in musical instruments in Oregon, so you're not that far off. Also, make sure you choose the correct truck condition (fair, poor) if anything is wrong -- body damage, repairs needed, interior, a/c, etc.

[Pjmax]

Be sure and check eBay for the guitar price also. Current as well as completed listings to see what it actually sold for.

[oregongal]

Taking the guitar to a pawn shop is on my list of things to do. I will try to revalue the truck. Thanks guys. Plan on doing a lot of paperwork early next week while the kids are gone. I think I need to do the timeline thing and make baby steps so it doesn't seem so overwhelming.

[nikcool]

I second the advice about the guitar. We have instruments, and when we considered selling them due to hard times, we were very disappointed to discover that instruments that cost us almost 1k total would get us less than two hundred dollars at a music store.

[ValleYum]

Hi all. I feel like I am on a downward spiral and actually just got on anti anxiety meds to try to help until this period of our lives is over. We are filing chapter 7 pro se, are 30,000 under median income, schedule j dmi is negative, have two assets that are worth anything that can't be completely exempted $7000 truck and $800 guitar. It seems so easy, but I can't calm down. Any advice?

I agree with bcss - have you priced those assets to your best benefit (particularly since you are filing pro-se)?

Low-end trade-in Value on my hubby's truck per Kelley Blue Book was $2 or $3 THOUSAND more than what I could sell it to a car dealer - so they are way high. The book said $10k+ and the highest cash price we found from a dealer was $8k. Lots of car dealers will offer to buy any car (whether it is paid off or not). So if there is such a big difference in our little truck - there could be hundreds in yours!! Go get a written offer to support your figures. Also, there is a place called Autotrader.com where you can answer a few questions and they will email you a written offer to buy your car with a list of where to go to do this!

Now, do the same thing with the guitars. They may be "worth" a certain amount in the past or have sentimental value but have you tried to sell one for the price you are listing as the value price lately? Go to a music store, guitar store or a pawn shop and get a written offer of what they would pay you in cash for the guitar. It, too, could be very surprising.

Now there are 2 days worth of chilling to do after you get the 2 duties for the day listed above all done. Chill out the best way you can. {{hugs}}

[bcss]

Especially since you live in Oregon go take a walk in nature. If you have a dog, take him too. That always helped me. You'll get through it. Gotta look past the present and see yourself free of debt. One question, are you sure you are pricing your assets correctly? Price them like you are selling them at a garage sale.
Good luck, you can do it.

Unable to post. Look up "The Meaning of Life (Cartoon)" on Youtube

[TheBajan]

This is your personal family business/bailout decision!

Frogger,
I just wanted to say thank you for this perspective. You've mentioned it a few times in various posts and it really does help me personally so thank you!
The bajan

[frogger]

Thanks Frogger. I feel like such a freak show.

Freak show???????

You can just stop that immediately. How about a little bit of Frogger's blunt advice for ya:

Don't feel like a freak.

You are nothing special.

Thousands upon thousands have filed bankruptcy before you.

Thousands upon thousands will file bankruptcy after you.

You just ain't special when it comes to bankruptcy.

Life happens.

Sheet happens.

Get over this being personal and get some sleep. You know where you are, where you need to go, what you need to do. It's time to stop taking this personal and understand that this is a business decision that you need to do for the best interests of you and your family.

And the last thought to thing about:

You didn't miss any sleep when you taxpaying dollars bailed out the big banks did you?

This is your personal family business/bailout decision!

[Drazil65]

Hi, I am so sorry for the anxiety and know all too well how that can affect ones life. Break it down to one day at a time, that is all we got truthfully! Regaining some control in your life will reduce the stress and make you feel like you have options once again. Put your plan on paper, create your timeline even if you think you know it by heart because sometimes seeing it writing does the mind good. Then as you get to each step/milestone cross it off the list, soon the list is reduced, the timeline is getting smaller and before you know it you are in the 60 day club waiting on discharge/close.

Feel good about being proactive and making the best decision for your family and your future. It takes alot to go through this journey but we are here for support, questions and a little hand holding, you will make it through just fine! You are taking control just by making the decision, welcome to our club and breathe deeply...

[oregongal]

Thanks Frogger. I feel like such a freak show. We're hoping to file by the end of October and then... maybe I will be able to sleep a bit. Stress is in my nature normally, so this just makes it exponential.