341 Today - Trustee Filed Initial Report - Left Meeting Open
Hello,
Wife and I had our 341 today (Chp 7, No Asset, Pro Se).
Things went well, or so I think. We had the usual questions, but some other things popped up.
He seemed impressed with the filing and asked if we received any assistance I said, no, not unless you count the $15 I paid for the Nolo book. He seemed satisfied by that.
The second issue had to do with a change in some circumstances since we filed. I was in a car accident last week and the insurance company totalled the car. The final payout was more than my initial estimate of the vehicle per NADA and KBB (6,400). I served the trustee with an updated Schedule B & C at the meeting to reflect this increase. I am still well within my exemptions (I used excess homestead for part of the car value). I noticed he made a notation regarding the total payout (about $8200) by the insurance company.
He left the meeting open and said he was going to review our exemptions, etc. I logged into PACER this afternoon and noticed the following notation:
Trustee's Initial Report and Meeting of Creditors Held. (There is no image or paper document associated with this entry.)
Does this seem standard for the situation? Does the entire process seem logical? Do you think he'll go after the insurance payout? We have another car, which is upside down, and I said I was working with the lender to get a reaffirmation agreement worked out. I said I was unsure if it would go because I had a decrease in income at work and based on the lender's initial offer I would be negative on a monthly basis.
Any thoughts or suggestions would be very much appreciated. I know I did everything right and was completely honest in our filing and at the meeting, I'm just worried about something going wrong. It looks like we're one of two cases that he didn't close today.
Thanks
Wife and I had our 341 today (Chp 7, No Asset, Pro Se).
Things went well, or so I think. We had the usual questions, but some other things popped up.
He seemed impressed with the filing and asked if we received any assistance I said, no, not unless you count the $15 I paid for the Nolo book. He seemed satisfied by that.
The second issue had to do with a change in some circumstances since we filed. I was in a car accident last week and the insurance company totalled the car. The final payout was more than my initial estimate of the vehicle per NADA and KBB (6,400). I served the trustee with an updated Schedule B & C at the meeting to reflect this increase. I am still well within my exemptions (I used excess homestead for part of the car value). I noticed he made a notation regarding the total payout (about $8200) by the insurance company.
He left the meeting open and said he was going to review our exemptions, etc. I logged into PACER this afternoon and noticed the following notation:
Trustee's Initial Report and Meeting of Creditors Held. (There is no image or paper document associated with this entry.)
Does this seem standard for the situation? Does the entire process seem logical? Do you think he'll go after the insurance payout? We have another car, which is upside down, and I said I was working with the lender to get a reaffirmation agreement worked out. I said I was unsure if it would go because I had a decrease in income at work and based on the lender's initial offer I would be negative on a monthly basis.
Any thoughts or suggestions would be very much appreciated. I know I did everything right and was completely honest in our filing and at the meeting, I'm just worried about something going wrong. It looks like we're one of two cases that he didn't close today.
Thanks