Well my Ch-13 341 meeting was today in Western Ky..(Paducah Branch)..
Trustee was very friendly and working with folks before me...was joking with lawyers etc... while joking around he mentioned a Ch-7 trustee was in the room, (not so friendly looking woman)
When our case was called it went as the others, except when he asked if any creditors were present... to my suprise, the woman he refered to as the local Ch-7 trustee spoke up and said yes... I am representing XXX credit union..
I had two vehicles financed and a credit card all with the credit union..., she mentioned cross collateralization... my 2nd vehicle was appraised at higher than what I owed, and my first vehicle they valued higher than my lawyer did when we put the plan together.... (cramming down the first vehicle)...
I was originally set for $795 for 36 months, since the credit union showed up and objected, the secured amount went up about 5.5k (3k value of the first vehicle, and 2,500 value of the 2nd)
I was in a 5% plan, my lawyer suggested lowering it to a 4% plan, the trustee didn't seem interested in that, the options offered to me, where...
1) Higher monthly payments 36 months.
2) same payments for 44 months (8 extra months)
3) lower payments for 60 months...
I went with option 2, the trustee was very nice, he noticed we had three kids, he said if the payments become a problem, then we should revisit our
lawyer and go to a longer plan, he said " if your income goes down or whatever, don't skip buying groceries, we can lengthen the plan if needed"
We were told to wait a few minutes, a lady ran the paperwork up stairs to get the judge to sign the plan,,, about 10 minutes later (next case was already going on) , we were told our plan was confirmed and we were Ok to leave...
Hope this helps others traveling the same road.....
Trustee was very friendly and working with folks before me...was joking with lawyers etc... while joking around he mentioned a Ch-7 trustee was in the room, (not so friendly looking woman)
When our case was called it went as the others, except when he asked if any creditors were present... to my suprise, the woman he refered to as the local Ch-7 trustee spoke up and said yes... I am representing XXX credit union..
I had two vehicles financed and a credit card all with the credit union..., she mentioned cross collateralization... my 2nd vehicle was appraised at higher than what I owed, and my first vehicle they valued higher than my lawyer did when we put the plan together.... (cramming down the first vehicle)...
I was originally set for $795 for 36 months, since the credit union showed up and objected, the secured amount went up about 5.5k (3k value of the first vehicle, and 2,500 value of the 2nd)
I was in a 5% plan, my lawyer suggested lowering it to a 4% plan, the trustee didn't seem interested in that, the options offered to me, where...
1) Higher monthly payments 36 months.
2) same payments for 44 months (8 extra months)
3) lower payments for 60 months...
I went with option 2, the trustee was very nice, he noticed we had three kids, he said if the payments become a problem, then we should revisit our
lawyer and go to a longer plan, he said " if your income goes down or whatever, don't skip buying groceries, we can lengthen the plan if needed"
We were told to wait a few minutes, a lady ran the paperwork up stairs to get the judge to sign the plan,,, about 10 minutes later (next case was already going on) , we were told our plan was confirmed and we were Ok to leave...
Hope this helps others traveling the same road.....