What is considered an asset?

[lotsahats]

It will be a few months before I am able to file, but I've been looking around my home for things that might need to be listed as assets. I read one post that said the trustee asked someone about a microwave. A microwave? Really? I never would have thought of that. I thought they were mainly just interested in things like house, cars, bank accounts, jewelry.

In my state, the debtor is allowed to keep ten thousand dollars' worth of stuff, so I don't think I stand to lose anything. I doubt everything I own, car included, would even come close to that amount. But, if they were interested in knowing about a microwave, what else would I have to include? What if I brush something off as a worthless possession (like a microwave) that they see as something that could be sold? Will I have to list every piece of furniture I own?

Maybe a home inspection would be easier. Then, they could just appraise my stuff themselves.

[keepsmiling]

How you list depends on the custom in your area.
We were told to write something like:" Household furnishings, no items over $550, total value 2K"... valued at giant garage sale prices (ie, cheap, unless you really have something there of value.

However, in certain districts- Florida Middle comes to mind- you might have to be more specific. Wouldn't surprise me to learn that that's the district the poster you mention was in. Your attorney should be able to guide you.

If you do list your microwave, make sure it's at garage sale prices- ie, $25 or so. Maybe less unless it's something fancy.

Lots of discussion on this, keep reading.