Hi All !
So a couple of hours ago I had my 341 meeting. I was a mess of course as I was labeled as Presumption of Abuse due to a large severance payment factoring into my last 6 months of salary. I lost my job in March, and after 3 months unemployment got another job with a great company, but at a way lower salary. I was so worried as it stated a US Trustee has been assigned and I am MeansYes.
I went on Friday to watch some of the cases, it was so simple as the 10 people who went through the only issue was a couple didn't list rental income and the trustee got upset and rescheduled and told the couple the US Trustee will be interested in why you left this off.. Otherwise the same simple questions that trustees ask in other forums, nothing out of the ordinary.
When my turn came up it was the same questions. There was only the local Trustee, no US Trustee present. The only question asked was how I got the value of my home as $160, I told him area comps and Zillow, he confirmed that I owe $197 on my home and asked if I had previously owned other property and I stated I sold a previous property back in 2005 in which I used the money I gained to put down on my current home. That was it! He handed my lawyer back my paystubs and tax returns and that is all the questions he had. I was so relieved.
My lawyer stated if either trustee has questions they will ask in writing, but he is sure everything will be fine.
So that was it for me, and if anything comes up I will let you all know. I had all my bank records for the last six months ready, utilities receipts and documentation on where I spent the severance package if they request, but they didn't ask today. I will watch Pacer to see if anything comes up, but I am very relieved and hopeful this will be it based on my financial situation.
I have over 50k in CC debt and am keeping my home for now ( working with Citi on a lower payment but will most likely foreclose if they can't adjust my home as I am 50k upside down and the payment is high ) And I own a truck and 7 horses which was part of a private horse rescue I am running, and in the process of adopting the horses out as with my new income I can not afford to continue my rescue.
For some reason I thought they would have more questions for me based on my status, but it was all the same- So relieved!
So a couple of hours ago I had my 341 meeting. I was a mess of course as I was labeled as Presumption of Abuse due to a large severance payment factoring into my last 6 months of salary. I lost my job in March, and after 3 months unemployment got another job with a great company, but at a way lower salary. I was so worried as it stated a US Trustee has been assigned and I am MeansYes.
I went on Friday to watch some of the cases, it was so simple as the 10 people who went through the only issue was a couple didn't list rental income and the trustee got upset and rescheduled and told the couple the US Trustee will be interested in why you left this off.. Otherwise the same simple questions that trustees ask in other forums, nothing out of the ordinary.
When my turn came up it was the same questions. There was only the local Trustee, no US Trustee present. The only question asked was how I got the value of my home as $160, I told him area comps and Zillow, he confirmed that I owe $197 on my home and asked if I had previously owned other property and I stated I sold a previous property back in 2005 in which I used the money I gained to put down on my current home. That was it! He handed my lawyer back my paystubs and tax returns and that is all the questions he had. I was so relieved.
My lawyer stated if either trustee has questions they will ask in writing, but he is sure everything will be fine.
So that was it for me, and if anything comes up I will let you all know. I had all my bank records for the last six months ready, utilities receipts and documentation on where I spent the severance package if they request, but they didn't ask today. I will watch Pacer to see if anything comes up, but I am very relieved and hopeful this will be it based on my financial situation.
I have over 50k in CC debt and am keeping my home for now ( working with Citi on a lower payment but will most likely foreclose if they can't adjust my home as I am 50k upside down and the payment is high ) And I own a truck and 7 horses which was part of a private horse rescue I am running, and in the process of adopting the horses out as with my new income I can not afford to continue my rescue.
For some reason I thought they would have more questions for me based on my status, but it was all the same- So relieved!
341 on September 23 
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