341 tomorrow.

[tay666]

Well, it's finally almost here.
Not nervous or worried (at least not yet)
More curious than anything else.
Seems things work a bit differently here.
We don't have a BK court in the county. But since there are so many filings around here, they send a trustee up to the county court house every other week.
Which is one of the reasons why I had to wait 50 days for a 341.
Doesn't even happen in a court room, but one of the conference rooms in the building. They schedule 15 minute blocks with 3 or 4 cases in each block.

I highly doubt there will be any creditors present. Especially considering the space constraints.
Only 2 things I can think of that the trustee might even look twice at.
First is the house, if he thinks there is more equity than we can exempt.
There isn't, but on paper it looks close.
The second is the wife's camper. We have no exemption at all to cover it.
So it all comes down to if he thinks it's worth going after.

The lawyer says all we have to bring is our ID and SS card.
Just in case, I will have my file box in the car.

Will post back tomorrow night to let you know how it went.

[ccsjoe]

Good luck tay. By the way, if the camper is a few years old, I don't think the trustee will even blink at it.

[professorkev]

wow Tay, thats a long time between last use of cards and BK. what made you do BK? I was going to try the settlment thing, BUT I don'
t think I can handle the constant calls (15 creditors) and crap. I just want a clean slate. I'm pretty good at understanding credit repair and all that crap, so I should be ok. 3 year ago I had over 500K in credit lines and 760+ credit score. now after the thieving bank SLASHED credit lines, RUINED my rations on credit usage vs credit limits my score in in the mid 600's. have yet to get a 30 day late reported, but that may change in a month or two!

[tay666]

Good luck tay. By the way, if the camper is a few years old, I don't think the trustee will even blink at it.

The camper is 22 years old.

wow Tay, thats a long time between last use of cards and BK. what made you do BK?

We've been wanting to file since before we stopped paying on the cards.
But we haven't had the money to hire a lawyer until everything finally worked out this year.
No interest in trying to do settlements, and no money for them anyway.



2 more hours until my hearing.

[tobee43]

good luck...you will just fine!

[tay666]

Went just as smoothly as I figured it would.
Never did get nervous. (probably because I was prepared, I knew everything was answered honestly on my petition, and I am confident in my lawyer)

It was very informal.
Just us, the lawyer and the trustee in a small office sitting around a table.
He had a laptop with all his stuff on it, and some recording equipment to record everything.
It was towards the end of the day, so I am sure he wanted to get things done and go home.
Checked our IDs, swore us in, and went right down the normal list of questions.
Were we still at the same address?
Were we still married?
Was I still working at . . . ?
Was that our signature?
Did we read what we signed?
Were we sure the numbers and such were correct?
Any other assets?
Anything else of value that might not have been liste? (sporting goods, collectables, etc)
Did anyone owe us any money?
Were we part of any lawsuites?
Did we sell anything in the 90 days prior to filing?
Did we charge anything in the 90 days prior to filing?
Did we pay any one creditor (other than mortguage) more than $600 in the 90 days prior to filing?
etc.
He just read them off a piece of paper.

It was all rather mundane and routine.
Except for the house.
He asked about the mortguage balance being $50,000.
And I clarified that the mortguage balance was $11,000 and there was a $40,000 judgement lien against it.
That caused him to pause and look things over a bit more.
Asked about the valuation of $50,000 for the house. And we explained that was the tax valuation.
He asked if I thought it would actually sell for that. And I answered honestly that I doubted it would sell for half of that.
He replied that the tax valuation in the area do tend to run very high.
I mentioned that I currently have a large protion of the roof tarped off due to leaks. He grinned, and said, "Yeah, I tried to sell a house like that once, they don't move very well do they".

He noted for the record that all forms had been submitted.
All certificates had been received.
That he had received a copy of our tax return, that he then returned to us (now I have 3 copies. Mine, the one I gave my lawyer, which he then returned after copying, and the copy that he gave the trustee)
Then he thanked us, and said that was it, we were done.

Didn't say anything about asset, or no asset.
But while walking out of the building, my lawyer said he has no interest in the house, and now it is just a waiting game.
(other than giving him another $500 to strip that lien off the property before the middle of September)

I think we were in the room with the trustee for about 5 minutes total.
Completely painless and rather mundane.