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Necessary items?

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    Necessary items?

    As I'm sure some of you knwo I've been thinking of ways to use the money I have.. I came across this site while searching for something else. Most of it has been talked about on here but I just thought I would get some opinions on what they would consider reasonable.

    Don’t fear losing your belongings. Learn about Chapter 7 bankruptcy exemptions and find out which assets, like your car and home equity, you can legally keep.



    When they say reasonable amounts of clothing.. how much would be reasonable now days lol I don't shop for clothes much.

    What are reasonable household furnishings?

    Personal Effects? (I'm guessing condoms toothpaste..etc? lol sorry boout condoms first thing popped in my head)

    Also tools of trade, I'm assuming that they wouldn't let you keep them if you weren't in the trade yet? Say if i was planning on it .. but I guess they'd say you HAVE to bei n it currently.


    Anyways just thought I'd see what some other opinions were. Everyone's "Reasonable" amount is probably different so thats why im asking

    #2
    For us, this has been coat clearance time. You could easily spend a few $$ on a couple of coats here. But I'm sure that's not an issue in the south!! LOL

    As far as personal effects, you could stock up on Tylenol, ibuprofen, toothbrushes and toothpaste, soap, laundry detergent, cleaning supplies. Any thing you can think of that you need or use on a daily basis to live at home.

    I would think you'd have a case for "Tools of the Trade". Our son is also a college student. He has lots of stuff that people in his future profession use at work, on the job every day. Son needs the same stuff for his "core" career classes at school. I'm thinking/hoping those things would be allowed.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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