341 around the corner

[Scottowl]

I have the 341 one week from Friday.
I’m trusting the atty to bring everything needed except my ID and SS card.

I don’t know what to expect in questioning about why I’m in the position I’m in. Compulsive gambling got me where I am. Will I be expected to account for all the losses at this meeting (or at any time)? If so, that would be difficult.

My plan has been amended to 60 months from 36. Adding all bills filed, and tacking on 10% adds up to less than the $866 x 60 I will be paying. Is it still possible for my payment to increase? My atty told me he used some of the lower pay periods to calculate my income.

Finally, I contribute to a Health Spending Account at work. After Jan 1, this converts to a Health Savings Plan. Will I still be able to contribute?

wow, what a windbag I am!

[justbroke]

If you read all the threads about 341 meetings about 95% of them are the standard questions. They are standard because they come from the United State's Trustee guidebook for Trustees! The Trustee will ask the many of the questions below and others are based on responses or the type of case (e.g. does the debtor operate a business).

In the limited 5% of cases, the Trustee may go off script based on your responses. Most debtors only spend 5 minutes with the Trustee because it's really just about the standard questions. In a Chapter 13, the Chapter 13 Standing Trustee may ask fewer than these, and the meeting run longer than 5 minutes (more like 10-15) because they generally will review your payment.

• Did you sign the petition, schedules, statements, and related documents?
• Did you read the petition, schedules, statements and related documents before you signed them?
• Are you personally familiar with the information contained in the petition, schedules, statements and related documents?
• Is the information contained in the petition and all accompanying documents true and correct? Are there any errors or omissions that you are aware of at this time?
• Have you identified all of your assets on the schedules? (assets include anything of value including accounts of all kinds, real property no matter if it is located out of the country, or personal property including even clothes and wedding rings).
• Have you listed all of your creditors on the schedules? (creditors include relatives and anyone to whom you owe money)
• Have you previously filed bankruptcy? (generally bankruptcies older than 8 years for Chapter 7 and less for Chapter 13 are fine, but they still need to be disclosed to the Bankruptcy Court and Trustee)
• Is the copy of the tax return your attorney provided to my office before this meeting a true copy of the most recent tax return you filed? (if you have filed a more recent tax return, be sure to give a copy to your attorney a week prior to the meeting, or bring a copy to the meeting if it is even more recent than that).
• Do you have a domestic support obligation such as child support or alimony that you owe another? To whom? You will be asked to fill out a form to provide the claimant’s address and telephone number, but do not state it on the record for privacy reasons.
• You will be asked if you are current on your post-petition domestic support obligations?
• Have you filed all required tax returns for the past four years? If you have not, you likely are not going to be eligible for bankruptcy relief unless you can get these done and quickly filed before a motion to dismiss is filed.
• If you are expecting a tax refund for the year prior to filing your bankruptcy, you will need to send the refund check to the Trustee (do not direct deposit) and the Trustee will do a calculation after the meeting to pro-rate the amounts over the 365 days of the preceding year. The Trustee will return a portion to you representing any exemptions claimed and for the time period after you file bankruptcy.
• Did you review the bankruptcy information sheet (this was provided to you when you hired us and explains the various types of bankruptcies)?
• Have you repaid any debts to family or friends in the last year?
• What is the reason for your bankruptcy filing?
• How did you arrive at the values you listed for your personal property on your schedules?
• Are you paid by the hour or salary? What is your hourly rate/salary?
• Identify any ownership interest and mortgages for real estate, even out of the country (all of this should be listed on your petition also)?
• Any transfers (giving or selling) anything to relatives or insiders in the past two years?
• Anyone holding any property for you?
• Have a claim against anyone else such as a slip and fall, car accident, someone owing you money etc.?
• Entitled to life insurance proceeds or an inheritance upon someone’s death?
• Are you a beneficiary or trustee of a trust?
• Do you own a business?

[Scottowl]

I have read through the 341 pages, but did not see anything pertaining to my situation.
I really hope my case is smooth, like so many of the others are

I have made the first payment, and plan on making the second one the day of the hearing. Will that be discussed at the 341?
If my payment is increased, will I find out about it at the 341?

I apologize for my ignorance. This is an excellent source for learning.

[justbroke]

It should go smoothly as Chapter 13s 341 meetings are different than one for Chapter 7. The Trustee may ask if you are up to date with payments. The Trustee may or may not talk about your payment amount.

[Scottowl]

What do you think about HSavingAccount coming up next year?
I am in a spending account, which is a use it or lose it arrangement.
All accounts are converted to saving account beginning next year by my employer.

[justbroke]

For a Chapter 13, I don't think they'll ask, but why are you using an HCSA and not an HSA? There's a difference between a Health Care Spending Account (HCSA) versus a Health Savings Account (HSA). I have a Fidelity HSA and it is protected and is investable.

[Scottowl]

The HSA has not been available to me up to now, from my employer.
I am not aware if it is available outside of employment?

[justbroke]

I am not sure. I only know that you can only have an HSA with a "high-deductible" healthcare plan. I think that high-deductible means a deductible of over $2,500 (or something like that), annually.

[Scottowl]

There were no questions out of range at the hearing.
it was not worth the self imposed stress.
I was in the courtroom with 5 or so other cases, all of which were represented by my attorney.

The hearing was conducted over the phone, with a local assistant of the trustee moderating.
I was the first case called, so I did not have any fire warning. I was worried about a million things, none of which happened.
Other that the basic swearing in, and identification, the trustee asked about my pension income.
He then instructed my attorney to change my plan from 36 to 60 months, and require all tax refunds for the additional 2 years be paid to him.
I hope this means my payment will remain unchanged as well.

[sophieanne]

It sounds like it went well @Scottowl...i'm suspecting there won't be a payment change. Good luck going forward!