what's the best way to value assets???? my lawyer said to use the yard sale method an to go onto ebay, well in my mind ebay is sketch at best..
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The best is yard sale prices or go to eBay to see "generally" what something is going for. Some things on eBay are new some used. You should think about what you could get for something if you had to put it on your front lawn today and it had to sell.
It's that simple. Too many debtors overthink this.
No one wants a used mattress that is 15 years old, so even if you paid $1,000 for it, it's worth maybe $50 today.
Likewise, your computer that you bought 5 years ago is likely worth only $50 and maybe $100 if it's an Apple product.
eBay is the best way to value.
Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt. -
ok i will look on ebay for used items then i might even ask my lawyer for his opinion as well...Comment
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