I had my 341 yesterday, and all went amazingly well (though not for an ill-prepared company before me).
To help people get a sense of the atmosphere, this is a bit detailed.
Bottom line: Know your petition very well. Be very prepared. Verify your attorney has what they need and that they have sent in all documentation trustee requested. Bring your copies, just in case. Give short, accurate answers.
Background
Filed Ch 7 on 10/28, 341 scheduled for 12/16 at 3 pm. Passed Means, No Assets
Some may remember that my 341 was scheduled on the same day that a family member was taking me to dinner and a show in NYC for my Christmas gift. Well, a 3 pm time in Trenton makes that close. The paralegal handling my case wanted the attorney repping me to ask the Trustee to move me up until she saw that "he's one of the grumpy ones." She offered to call his office and see if they could do something in advance, to which I said, "If he's grumpy, No!!"
Reading the 341 reports here were very helpful, as was googling "chapter 7 341 videos" and finding some mock 341s on YouTube.
By the day of, I figured all would go well, but I was prepared in case he had some questions.
The Meeting
I arrived at 2:30. Entry into the courthouse was a breeze (airport screening, but no wait). No cameras were allowed, but they didn't care about cell phones (including iPhones). My partner brought his in to make some calls while waiting (a snack room next to vending gave him a good location to do that).
I sat in the hall for a few minutes to get my head in order, then walked into the hearing room. There is no sign-in or anything. The trustee has the roster and expects you to be there and ready.
The room itself is one large room, almost like a classroom, with a table at one end and chairs set up auditorium style - maybe 60 chairs. The trustee faces the chairs at his table, there are 3 chairs opposite the table facing him.
At 2:30, he called out, "Now calling the 2:00 hour." Great, we're an hour behind. Well, I might still get out by 4, which means I might have time for the dinner as well as the show. My attorney said the good news was that he was ONLY 30 minutes behind!! He seemed to call alphabetically by lawyer's name on the petition. (Mine was a partner and sent an associate, but I was called based on the partner's name.)
The trustee wasn't grumpy, in my mind, but he would quickly get irritated with anyone who wasn't prepared or didn't give full answers. He seemed to be helpful nervous folks. One person who kept telling her life story with each answer was quickly but politely interrupted ("I get the story. You're nervous. It's OK. Just answer the question I ask, I don't need the background.")
He did say there was going to be one case where there could be some yelling, and then said, "Gee, I hope no one is here to see that."
Ultimately, he was very fair; polite; but business-like and maybe even brusque if he wasn't getting a direct answer.
There were two cases immediately before me where documentation the trustee requested had not been provided, which really did make him grumpy. He still went with the 341, but continued pending documentation.
Then came the business (ch 11 conversion to ch 7). Their attorney didn't bring the petition for the CEO and CFO to verify signatures. Boy, was the trustee peeved! He was also rather irritated that the CEO and CFO couldn't decide on who would be sworn in to answer the questions. The trustee also asked where a payment was he was expecting. In essence, they said "Check is in the mail." He immediately pulled out his cell phone to call his office to see if he missed a FedEx. He hadn't. Again, he wasn't happy. Ultimately, though, he sent them away telling them to get some affidavit verifying their signature and get him his money.
My partner was waiting in the hall - he said when they came out, they were fussing that they had been picked on!!
OK - after them, a very brief hearing that went well.
Not a single creditor showed up for anyone in the 90 minutes I was there.
On to Me
Then, finally me. Very quick. Standard questions. When asked if I was married, I said I had a civil union partner. He asked if his name and asked if had property I hadn't listed. I said a Toyota Corolla. He was fine.
A few more standard questions, then "I see you have a painting you believe is of some value. I don't know art, what is it?" It was a painting my grandfather picked up in WW2, that I had appraised a couple of years ago. I didn't know the name of it, just the artist - so I called it the [artist] painting. He asked if he would ever see it on Antique Road Show. The entire room broke out laughing. I said I had absolutely no clue. Anyway, it was exempt.
He asked a common question - "How did you get into this situation." I answered "Poor financial management." He gave me an info sheet and closed the hearing, wishing me good luck. Maybe 5 minutes.
The 75 minute back-up through the Lincoln Tunnel was the only bad thing of the day, but I still had a quick dinner and enjoyed the show (in NY, not in Trenton 341 hearing room).
Nothing yet on Pacer, but I suspect it's 60 days and discharge!
To help people get a sense of the atmosphere, this is a bit detailed.
Bottom line: Know your petition very well. Be very prepared. Verify your attorney has what they need and that they have sent in all documentation trustee requested. Bring your copies, just in case. Give short, accurate answers.
Background
Filed Ch 7 on 10/28, 341 scheduled for 12/16 at 3 pm. Passed Means, No Assets
Some may remember that my 341 was scheduled on the same day that a family member was taking me to dinner and a show in NYC for my Christmas gift. Well, a 3 pm time in Trenton makes that close. The paralegal handling my case wanted the attorney repping me to ask the Trustee to move me up until she saw that "he's one of the grumpy ones." She offered to call his office and see if they could do something in advance, to which I said, "If he's grumpy, No!!"
Reading the 341 reports here were very helpful, as was googling "chapter 7 341 videos" and finding some mock 341s on YouTube.
By the day of, I figured all would go well, but I was prepared in case he had some questions.
The Meeting
I arrived at 2:30. Entry into the courthouse was a breeze (airport screening, but no wait). No cameras were allowed, but they didn't care about cell phones (including iPhones). My partner brought his in to make some calls while waiting (a snack room next to vending gave him a good location to do that).
I sat in the hall for a few minutes to get my head in order, then walked into the hearing room. There is no sign-in or anything. The trustee has the roster and expects you to be there and ready.
The room itself is one large room, almost like a classroom, with a table at one end and chairs set up auditorium style - maybe 60 chairs. The trustee faces the chairs at his table, there are 3 chairs opposite the table facing him.
At 2:30, he called out, "Now calling the 2:00 hour." Great, we're an hour behind. Well, I might still get out by 4, which means I might have time for the dinner as well as the show. My attorney said the good news was that he was ONLY 30 minutes behind!! He seemed to call alphabetically by lawyer's name on the petition. (Mine was a partner and sent an associate, but I was called based on the partner's name.)
The trustee wasn't grumpy, in my mind, but he would quickly get irritated with anyone who wasn't prepared or didn't give full answers. He seemed to be helpful nervous folks. One person who kept telling her life story with each answer was quickly but politely interrupted ("I get the story. You're nervous. It's OK. Just answer the question I ask, I don't need the background.")
He did say there was going to be one case where there could be some yelling, and then said, "Gee, I hope no one is here to see that."
Ultimately, he was very fair; polite; but business-like and maybe even brusque if he wasn't getting a direct answer.
There were two cases immediately before me where documentation the trustee requested had not been provided, which really did make him grumpy. He still went with the 341, but continued pending documentation.
Then came the business (ch 11 conversion to ch 7). Their attorney didn't bring the petition for the CEO and CFO to verify signatures. Boy, was the trustee peeved! He was also rather irritated that the CEO and CFO couldn't decide on who would be sworn in to answer the questions. The trustee also asked where a payment was he was expecting. In essence, they said "Check is in the mail." He immediately pulled out his cell phone to call his office to see if he missed a FedEx. He hadn't. Again, he wasn't happy. Ultimately, though, he sent them away telling them to get some affidavit verifying their signature and get him his money.
My partner was waiting in the hall - he said when they came out, they were fussing that they had been picked on!!
OK - after them, a very brief hearing that went well.
Not a single creditor showed up for anyone in the 90 minutes I was there.
On to Me
Then, finally me. Very quick. Standard questions. When asked if I was married, I said I had a civil union partner. He asked if his name and asked if had property I hadn't listed. I said a Toyota Corolla. He was fine.
A few more standard questions, then "I see you have a painting you believe is of some value. I don't know art, what is it?" It was a painting my grandfather picked up in WW2, that I had appraised a couple of years ago. I didn't know the name of it, just the artist - so I called it the [artist] painting. He asked if he would ever see it on Antique Road Show. The entire room broke out laughing. I said I had absolutely no clue. Anyway, it was exempt.
He asked a common question - "How did you get into this situation." I answered "Poor financial management." He gave me an info sheet and closed the hearing, wishing me good luck. Maybe 5 minutes.
The 75 minute back-up through the Lincoln Tunnel was the only bad thing of the day, but I still had a quick dinner and enjoyed the show (in NY, not in Trenton 341 hearing room).
Nothing yet on Pacer, but I suspect it's 60 days and discharge!
)
Comment