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What does the trustee take?

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Tomew2000
Regular Contributor

What does the trustee take?

    I'm considering a  7 filing.  I have no real assets, but a question.   Will the trustee take things like my computer, or clothes?   I can't imagine they have any value 

Message 1 of 6
5 REPLIES 5
DebtStinks
Established Contributor

Re: What does the trustee take?

You should have exemption amounts for things like clothes, jewelry, tools, car(s), small amount of cash in bank(s)/on hand, etc.

 

If you have a no asset case, it's pretty easy and a smooth process.

 

While I'm not an attorney, it's pretty much a common sense way of looking at things. Long story short, if you have "normal" average John/Jane items, you're likely not going to have any issues at all.

 

Best of luck!

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Message 2 of 6
Anonymous
Not applicable

Re: What does the trustee take?


@Tomew2000 wrote:

    I'm considering a  7 filing.  I have no real assets, but a question.   Will the trustee take things like my computer, or clothes?   I can't imagine they have any value 


They aren't going to take your clothes.  Although I do have a thong about the diameter of dental floss that I would never give up regardless.

Message 3 of 6
Shooting-For-800
Senior Contributor

Re: What does the trustee take?

What state are you in?

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Message 4 of 6
Tomew2000
Regular Contributor

Re: What does the trustee take?

I'm in New Jersey

Message 5 of 6
Azuieldrago
Frequent Contributor

Re: What does the trustee take?

No they wont take your clothes or computer. Normally that is. Now if they are high end designer or something that can fetch some decent cash then only those, but if you can afford those types of clothes you have money so BK would not be an option. But no, they would not leave you naked. As for computers, that is basically a requirement in daily life. 






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