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About grantmo

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  1. I am trying to file BK by myself instead of uising a lawyer. I am trying to understand it and complete the forms from two online BK companies. I was wondering if anyone could tell me when I file my "Schedule B" - perosnal property, do I include a car that has a lien on it or is this considered a secured claim? My car is worth $4020 and I owe exactly $3600 on it, so my equity is $420. If I do list this car on this form, would I list the value to be 420 or for the full value of the car, 4020? OK - you can tell me to get a lawyer and I am thinking about doing it, but was wondering if anyone knows about this kind of stuff. I want to see if I can finish all of the forms and understand them. If I just can't make it work or am not 100% sure, then I will get a BK lawyer. Any help would be great! Grant
  2. Thanks for the input. The websites are great. Looks like the black book is lower than the nada. Either way, I think I can come up with a fair value. Just one more question about the cars; Let's say the exemption for my car in the state of Missouri is $1000, the value of the car is $4700, and I still owe $3300. So 4700 minus 3300 is 1400, that's about my equity in the car, and I get a $1000 dollar exemption, do I owe the $400 difference to my creditors? Or do they take my car and sell it? Thanks!
  3. I am filing chp 7 BK by myself and am trying to find the value of my two cars. I will be filing jointly with my wife as we both have about 15k in debt. I think we can each get a vehicle exemption since we are filing jointly and the exemption here in Missouri is 1000 dollars for a vehicle. We have two cars, one is a pontiac 1997 that we are making payments on and we still owe about 3300k on it. We do not want to include this in the BK we want to keep on paying for it and all of the payments are current. My other vehicle is a 1979 Ford pickup truck. I cannot find the value on it. I did find a kelly blue book value for a 1983 rather than '79 and the value was around 800-1000 dollars. The truck is paid for in full. I want to keep both vehicles. My question is this... How do I show the value of the vehicles and what do I use to find the value? I read on the old board that LadynRed mentioned to use the Black Book Value and take off 30%, is this the standard and what do I say if the court asks why I came up with this figure. I guess I'll just tell them that LadynRed said to use it, that should stand its ground. Thanks for any help on this.