overlooked accounts

[ttg1]

I filed about a week ago and in the process of cleaning stuff out (since I will have to move) I realized that I overlooked two accounts that probably should have been reported in my Chapter 7 filing.

The first is a Paypal account. This account has no balance and has never carried a balance but it exists. I only ever used it when I didn't feel comfortable entering my CC information directly on a website. Should this have been reported?

The second is my frequent flyer miles. I haven't flown anywhere in years and just forgot all about them. The balance which has carried forward is fairly large (about 50K miles). From the research I have done this is an asset that should have been reported. While I can claim an exemption, depending on how they are valued it could put me very close to being an asset case :-(

So how do I fix this issue and how do I value my FF miles?

[jeep75]

hmmm.. I'm not sure about this, our lawyer only sent letters to creditors with a balance, I don't think you have to worry about paypal with zero balance.

[IamOld]

I think Jeep is right - if you don't owe them they're not a creditor.

[disconapper]

I agree with the others. If I didnt owe anything, I did not list it.

[ttg1]

Apparently my original post was not as clear as I thought. I'm concerned about assets I didn't report, not creditors. On Schedule B Line 2 "Personal Property" one reports all ones financial accounts; I'm not clear based upon what I stated in my OP if my Paypal account qualifies as a financial account for the purposes of that form. I have not nor ever had a Paypal credit card.

[jeep75]

We know what you meant. If you have $0 in your paypal account, it is not an asset.

[drowning123]

I had a Paypal account I never used. Didn't even remember to include it. I also had Citibank rewards which I never included, but my Citibank checking plus account was included. Don't sweat the small stuff.

[sunshinepa]

Seriously, I have a Paypal account and 42,000 American Airlines miles. My Paypal had 7.00 dollars in it and my attorney just laughed at me when I said we should list it. I never discussed my airline miles because truthfully, I didn't look at them as an assett.....if I don't use em, I lose em......so how could they be an asset?

Don't sweat it or rock the boat for either of these, they aren't worth mentioning!!!!