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Selling 'stuff' in a chapter 13

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    Selling 'stuff' in a chapter 13

    We jsut filed ch13 and will be moving (as many of you now know!). My husband and I are looking to sell some of our stuff as we will be downsizing and consolidating my dad's house with ours.
    Is there a problem with selling our 'stuff'? Do we need to report this as income?

    any thoughts are appreciated!
    Filed ch 13 12/23/10; closed 3/14; refiled ch 7 on 4/13; 341 on 5/13; reaffirmation 7/11 (denied); 7/14/11 DISCHARGED

    #2
    You need to check with your attorney on this...first, it all depends on what items you are selling and since you are downsizing and combining households, that will change your Chapter 13 filing information quite a bit as you will have a new household member which will be providing income and reducing your expenses. Anytime there is a financial change in your status during a chapter 13, contact your attorney. As to the selling of items, items such as old kids clothing or old used household items such as would be in a garage sale should pose no issue. If you are selling more expensive items such as collectables, electronics, jewlery, designer items, expensive furniture, etc., check with your attorney.
    _________________________________________
    Filed 5 Year Chapter 13: April 2002
    Early Buy-Out: April 2006
    Discharge: August 2006

    "A credit card is a snake in your pocket"

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      #3
      Thanks - that the sort of stuff. Old TVs, decorative items for room themes I'm not going to continue, and maybe some of my husbands model cars - but they aren't worth a ton. I've got an email out to the attorney, but wanted the experienced opinion!
      Filed ch 13 12/23/10; closed 3/14; refiled ch 7 on 4/13; 341 on 5/13; reaffirmation 7/11 (denied); 7/14/11 DISCHARGED

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