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  1. #1
    Join Date
    Feb 2009

    Default Ch 7 Property and Exemptions

    My question involves bankruptcy in the state of: Vermont
    Three part question, filing on my own:

    I have 2 special properties - an employee stock ownership plan (ESOP) (as of last year $24K, updates April 2009 and should be about $28K) and VA disability income of $123 per month.

    How are these listed on Schedules C (Property) and D (Exemptions)? I have had conflicting advice.

    1. Do I list the ESOP in item 12 of Schedule C? If so, the current amount of $24K (filing early March 2009, will increase April 2009)? Any notes to make on the listing? Also, for exemptions, do I list the $24K or projected $28K? Don't want any chance the increase will not be exempted.

    2. Do I list the VA compensation under item 17, and what amount or other information do I put in the current value blocks (Scheds C & D) if it is a monthly payment?

    3. On Schedule C, value of claimed exemptions: If I have household goods I value at $1000, should I show $1000 as the claimed exemption or put a higher figure in case the trustee disagrees with my valuations.

    Thanks for any assistance.

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Ch 7 Property and Exemptions

    I'm not able to fill out your forms for you, long-distance. Your other thread left me with the impression that you would benefit from consulting a bankruptcy lawyer; this thread suggests to me that you need to.

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