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Old 01-27-2011, 07:48 PM
swampwiz swampwiz is offline
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OK, everyone. I have successfully navigated the bankruptcy.

I used the value of $50 per machine, and between my herd of 22 and about 10 neon signs and some other items, I had net assets of recoverable items of about $2500. I negotiated all this down to about $1K and paid the trustee that to buy my stuff back. I still had to officially have the bankruptcy judge auction my items in court, but fortunately no pinball collector who knew that I had all these machines in very good (cosmetic, at least) condition was there to outbid my $1K. I had to pay another $4K for my house (I had bought my home for $39K on the eve of bankruptcy, but my state, Louisiana, only has a homestead exemption of $35K. ) But I ended up wiping out $140K in debt, whilst keeping my $170K retirement account intact (increased up to $210K thanks to my shrewd investing since then, except for the distributions I've been taking. )

I even have a few extra machines that I am planning on selling over the nest few years (I am now living mostly abroad and only home about a month or so every month.) They are:

Bally On Beam
Bally Rocket III
Gottlieb Jack In The Box
Gottlieb Big Shot
Williams Alpine Club
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