Bankruptcy Valuing Assets
Does anyone actually come to your house to evaluate your assets when filing for bankruptcy?
I’m contemplating filing for bankruptcy. I live in a house that I do not own and I basically have nothing of great value in my name (no car, no house), and I’m currently unemployed. How do they determine what to take and how can they prove what belongs to the owner of the house (not me) and what belongs to me? Do they actually send someone to your house and check or evaluate? Because that would be more humiliation than I can handle as the people I live with are not aware of my debt. If I have an overseas bank account, could they go after that (can they even locate it in the first place)? Thanks for any help!
Not usually as long as you list what you think the fair market value is for the property. The only time the trustee would object to the value would be if you value your property low but you live an upscale area, then he may send an appraiser out to look at your property, you still should not have any problems.
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