Re: more questions about BK

Posted by Why Chat (209.240.205.61) on April 20, 2004 at 18:42:59:

In Reply to: more questions about BK posted by Robert K on April 20, 2004 at 14:34:12:

When figuring the value of anything for BK, you do not go by it's "market" value, but by it's wholesale value.

You can figure that by looking up the trade in value of your car and deducting about 25-30%, depending on your area.

Or go to a used car lot and ask them how much they will give you for the car for an immediate sale.

If it is $5,000 Blue book, it is probably aout $2,000 or less wholesale, so you are safe, as the auction costs are factored in.

If you have ANY credit that has NO balance due, like a store or gas card you have not used, you do NOT need to declare it, as long as you DO NOT use it at all until 60 days after final discharge.

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