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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2900
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Hi, I will be filing personal bankrupcy. I have a bunch of

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Hi, I will be filing personal bankrupcy. I have a bunch of silver in all verious forms. Will I have to list each and every different kind of silver or can I just get a quote from a silver buying store and list it all as a group? the store will go by weight as a group?

Terry L. :

Hi and thank you for your question. In the future, you can request me to answer any further questions.

Terry L. :

If you list "various items of silver, weight of xxxxx, and current value of silver per oz is xxxxx, total value of xxxxx, you should be fine.

Terry L. :

as long as the value is accurate, that's all that matters. You can always amend if the trustee wants a more detailed list.

Terry L. :

this will go on schedule B, with any available exemption on schedule C.

Terry L. :

Thanks for your question, good luck.

Customer:

isn't it the garage sale value that we would list, thats what the attorneys paper said when listing assets

Terry L. :

For used items, like your couch and TV -since you really can't sell these items for much, but major assets like silver and precious metals, stock, bank accounts, CD's etc would be the actual value

Terry L. :

if you get the items appraised, that would suffice for resale value at a jewelry store

Terry L. :

do you have any other questions at this time?

Terry L. :

If you do, I'll be happy to reply. Best of luck to you. Thanks

Customer:

the pawn shop that buys silver will pay only about 60% of the value. If I have a couple written estimates do you think that will fly or will the trustee not except something like that?

Terry L. :

yes, a written estimate should suffice.

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