What is a VCR worth?
When you file bankruptcy you have to list all of your property. For years we've been listing VCR's, but we are conflicted about continuing the process. We've prepared a motion to file with the Bankruptcy Court, but just haven't found the right test case yet. Maybe someday . . .
IN THE UNITED STATES BANKRUPTCY COURT
District of Utah
In the Matter of: }
} Case No.
} Chapter 13
Motion To Value Collateral
1. Debtor(s), _________________, commenced this case on (___________) by filing a voluntary petition for relief under Chapter 13 of Title 11 of the United States Bankruptcy Code.
2. This court has jurisdiction over this motion, filed in order to determine the value of Debtor(s) Videocassette Recorder. Hereinafter referred to as a VCR.
The following Craigslist.com ads show the value of such collateral as follows:
1. Free VCR! is in good working condition considering its age and outdated technology.
Has 3 RCAs in the front and 3 in the back along with a coax input. Does not have HDMI.
2. Free VCR Works Great!
3. We are cleaning house and we are getting rid of this player. It includes all the cables and everything in the photo. The VCR works ok. It has eaten a few tapes.
These ads clearly show that people are willing to spend time and effort in order to get rid of a VCR thus showing their value as less than $0.00.
3. The debtor's interest in the property is measured in direct relation to the number of VHS tapes they own. Most of these tapes are either old recordings of America’s Funniest Home Videos or actual home videos. Debtor(s) plan on having old VHS tapes digitized and are afraid of their VCR eating the tapes and destroying their memories.
4. Sentimental value exemption on VCR was considered, but the sentimental value is for the VHS tapes and not the VCR itself. Debtor(s) plan on having old VHS tapes digitized. They are currently afraid to put the tapes in the VCR in the event that they are eaten and their home movies are destroyed. This removes sentimentality even further from the VCR itself. However, there is some slight sentimentality attached to the VCR for the nostalgic memories induced when looking at it. Like the need to rewind tapes before returning them or for the “tracking” (See attached image) that would happen as the video started to play. This does not seem like enough sentimentality however to claim said exemption.
WHEREFORE, debtor(s) pray for an order valuing collateral as worthless. In addition counsel wishes to have the court recognize the pointlessness of listing VCR’s on future Bankruptcy Petitions and lists of property.
Order to Value Collateral
The motion of the above-named debtor(s),_______________, to avoid valuing collateral.
It is hereby ORDERED and DECREED that the value of debtor(s) VCR, in and on debtors' residence is valued at $0.00.
It is further ORDERED that even if the debtor's bankruptcy case is dismissed, the value of the VCR will remain at $0.00 and debtor(s) may take take all steps necessary and appropriate to get rid of said VCR.
Dated_________________________________, 2015. _____________________________
U.S. BANKRUPTCY JUDGE