Tips And Tricks For Moving And Storage

Bankruptcy protection is a vital safety net for Americans who get into financial and debt problems. But it's unfamiliar territory for most people and comes with many questions about what you can or cannot do before and during bankruptcy. 

For instance, you may be advised to avoid all unnecessary spending and new debt. But what about renting a personal storage unit? If you need a unit, should you rent one? And what can you do to make sure it abides by the bankruptcy court's rules? Here are five tips.

1. Make It Necessary

In general, the bankruptcy trustee understands that a debtor has to carry on with their life even when seeking bankruptcy help. So you can take on the new expense of renting storage if it's reasonably necessary. If you must downsize, you were evicted, or you had to move back to your parent's, for instance, you have a good case for needed storage. 

2. Don't Hide It

Be honest and truthful about the storage unit and what you put inside it. Your stuff is all part of the bankruptcy estate, so the trustee has the right to inspect the unit. Trying to hide something valuable in a secret storage unit may be deemed bankruptcy fraud and have detrimental effects. 

3. Organize It

Don't put in your belongings haphazardly. As mentioned, the trustee may want to look inside at some point. Make their job easier by organizing it for easy access and easy assessment of the value of anything inside. Consider a larger unit so the trustee can move around easily. 

4. Take Inventory

As you put things in and take them out, keep a running inventory of what's in there. If there is a detailed inventory, possibly with estimated values, the trustee may not need to confirm your reporting. On the other hand, if you report something is inside the unit but it's not, the trustee may feel that you aren't to be trusted. Keep the inventory near the door or on your phone for easy use. 

5. Protect Your Things

Most people who go to the trouble of renting storage space want to take care of their belongings inside. But if you feel that the trustee may take some asset for liquidation anyway, you could be tempted to be lax about protecting it. Don't do this. These items are part of the bankruptcy estate, so the court has an interest in them. Take reasonable steps to protect their value while in storage. 

Where to Start

No matter why you need personal storage, you can have it and still stay within the bankruptcy court's rules. Start by touring a secure facility in your area today to learn more about options, pricing, and sizes to fit your needs.  

For more info about personal storage, contact a local company.