Abstract: Methods for processing a claim between a claimant and an administrator divide the claim process into a series of discrete actions. The users may produce an itemized inventory of all property related to the claim by documenting the property and categorizing it based on a hierarchical organization system. Once the itemized inventory is produced, the users may generate pricing data to associate monetary values with the property items. In the context of an insurance claim, the parties may thereafter negotiate a compensation amount to be delivered to the insured claimant, who may use the compensation amount to repurchase the various property items listed in the itemized inventory. In the context of a bankruptcy or other matter, the itemized inventory and pricing data provide information as to potential debt payoff and asset valuation. A computer program product is disclosed with a program module having instructions for running the aforementioned methods.