I had my 341 today, and it did NOT go well. I filed Pro Se, which I guess may have been a mistake. I'm married 15 years, and am filing a non-consumer chapter 7. I exempted everything (our home, cars etc.) because they are joint marital property (tenancy by the entirety in our state). All of the debt was for business, in my name.
The trustee seemed very nice and polite, and was asking me all of the questions he asked everyone else, then started asking about my businesses. I did not exempt my remaining business inventory, and he asked where it was etc. I told him I had it in storage, and he said he would be having an auctioneer contact me about inspecting it. I'm totally fine with that. I told him I did try to liquidate, but nobody was really interested in the stuff. I'd honestly love if they could get a few bucks for the stuff.
However, things took a bad turn after this. He asked if I owned any real estate - I said I did. He stated the value, and asked how I arrived at that. I told him that is what it was assessed at a few years ago. He asked if there was a mortgage - I told him there was not. He then asked me about some guitars I had listed, how old they were, and how I arrived a the values. It was right around this time that he then informed me that he would be objecting to my exemptions, and that if his objections are upheld, I will have to go before a judge, and that he intends to liquidate all of my assets to pay my creditors.
Since pretty much everything I own, aside from the inventory, is jointly owned with my wife, I don't understand how this is possible? I asked him why, but he said he could not give me any legal advice. He did say that I mixed state law and case law on my paperwork - I'm guessing he was giving me a hint there? He also seemed to be suggesting I get a lawyer. I see on my Schedule C where I cited a case for all of the jointly held assets, but that was all I could find. The other exemptions were state codes, for such things as retirement accounts etc.
So he continued my case until January. I'm a complete nervous wreck. I have contacted a lawyer - it may be just a matter of getting the specific laws stated correctly on the Schedule C...I have no idea. In retrospect, I guess my case might have been a little too complex to try to do on my own (I was the only one there without a lawyer). I had been sued three times before I eventually filed, and actually won 2 of the 3, and was waiting to hear back on the third. Maybe I should have just continued that course.
Is there a deadline for withdrawing my petition altogether? Like..if I wind up going before a judge..is it too late??
The trustee seemed very nice and polite, and was asking me all of the questions he asked everyone else, then started asking about my businesses. I did not exempt my remaining business inventory, and he asked where it was etc. I told him I had it in storage, and he said he would be having an auctioneer contact me about inspecting it. I'm totally fine with that. I told him I did try to liquidate, but nobody was really interested in the stuff. I'd honestly love if they could get a few bucks for the stuff.
However, things took a bad turn after this. He asked if I owned any real estate - I said I did. He stated the value, and asked how I arrived at that. I told him that is what it was assessed at a few years ago. He asked if there was a mortgage - I told him there was not. He then asked me about some guitars I had listed, how old they were, and how I arrived a the values. It was right around this time that he then informed me that he would be objecting to my exemptions, and that if his objections are upheld, I will have to go before a judge, and that he intends to liquidate all of my assets to pay my creditors.
Since pretty much everything I own, aside from the inventory, is jointly owned with my wife, I don't understand how this is possible? I asked him why, but he said he could not give me any legal advice. He did say that I mixed state law and case law on my paperwork - I'm guessing he was giving me a hint there? He also seemed to be suggesting I get a lawyer. I see on my Schedule C where I cited a case for all of the jointly held assets, but that was all I could find. The other exemptions were state codes, for such things as retirement accounts etc.
So he continued my case until January. I'm a complete nervous wreck. I have contacted a lawyer - it may be just a matter of getting the specific laws stated correctly on the Schedule C...I have no idea. In retrospect, I guess my case might have been a little too complex to try to do on my own (I was the only one there without a lawyer). I had been sued three times before I eventually filed, and actually won 2 of the 3, and was waiting to hear back on the third. Maybe I should have just continued that course.
Is there a deadline for withdrawing my petition altogether? Like..if I wind up going before a judge..is it too late??
Bankruptcy Wizard
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