I am a student of people. I am fascinated by them. I was probably the only one in the room that was intrigued by the process.
It was VERY interesting to me...and surprising after reading how many of the 341's took a minute or less on this blog.
This trustee was very questioning. There was only one couple who got through without any extra questions.
It was sad (someone was going to have to turn over some inherited farm land), one couple was in and they had both declared bk separately in 2000 & 2003 respectively and were now filing jointly. Another had a business go under. I think often it was property related.
We were only asked about our payments to our CC which we always pay off every month and wasn't claimed on the BK. I think the trustee was trying to ascertain whether we were being preferential to the CC company but they were just our monthly gas/groceries/dining out stuff.
Our attorney did tell us that the trustee gets 1/3rd of what he recovers in a BK? This sounds like a conflict of interest to me!
We'll find out next week whether they are going to do a 7 or request to do a 13.
If we weren't in a recourse state we wouldn't have to be doing anything, but I'm not betting my future on whether the banks will or won't come after a deficiency. Some day they will get their act together to try to reclaim all they've lost to these foreclosures.
It was VERY interesting to me...and surprising after reading how many of the 341's took a minute or less on this blog.
This trustee was very questioning. There was only one couple who got through without any extra questions.
It was sad (someone was going to have to turn over some inherited farm land), one couple was in and they had both declared bk separately in 2000 & 2003 respectively and were now filing jointly. Another had a business go under. I think often it was property related.
We were only asked about our payments to our CC which we always pay off every month and wasn't claimed on the BK. I think the trustee was trying to ascertain whether we were being preferential to the CC company but they were just our monthly gas/groceries/dining out stuff.
Our attorney did tell us that the trustee gets 1/3rd of what he recovers in a BK? This sounds like a conflict of interest to me!
We'll find out next week whether they are going to do a 7 or request to do a 13.
If we weren't in a recourse state we wouldn't have to be doing anything, but I'm not betting my future on whether the banks will or won't come after a deficiency. Some day they will get their act together to try to reclaim all they've lost to these foreclosures.
Closed November 2010
341 on September 23
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