had our 341

[trying2getby]

quick & painless

Presented 2 forms of ID, sworn in, & then these questions asked:


1. Have you reviewed the schedules & forms your attorney has prepared?
2. Are you personally familiar with the information given to your attorney?
3. You have elected to keep your home?
4. Your payment to the Trustee is $xxx per month. Will you be able to make that payment monthly?
5. Did you take any cash advances within 90 days of filing?
6. Did you pay off any creditor within the last 90 days?
7. Have you sold, given away, or otherwise transferred any property within the preceding 2 years?
8. Have you begun making your payments to the Trustee?

Less than 5 minutes. Most of the cases before us went the same way. I timed a few of them and they were 4 minutes. One couple had a claim filed on an asset they hadn't listed (they were co-signers on it). One couple had not started making payments even though they filed the middle of September, so they had to visit with their attorney and be recalled. One couple had taken out a large cash advance since filing and will be recalled at another date to account for the proceeds of that money.

60-month plan, 0% to unsecured, surrender tax refunds if over $2000

[NewHope]

Congrats on the easy 341, you have now started that long road of recovery...it will be hard sometimes, but there is a finish line, and I am sure you can make it!!!!

[WoodSprite]

Congratulations! Here's hoping that light at the end of the tunnel will get brighter by the payment.

[NowImDownInIt]

Congratulations!! Now on the road to confirmation.

[BROKENN]

Very good! YaaYYY!!

[junjun]

quick & painless

Presented 2 forms of ID, sworn in, & then these questions asked:


1. Have you reviewed the schedules & forms your attorney has prepared?
2. Are you personally familiar with the information given to your attorney?
3. You have elected to keep your home?
4. Your payment to the Trustee is $xxx per month. Will you be able to make that payment monthly?
5. Did you take any cash advances within 90 days of filing?
6. Did you pay off any creditor within the last 90 days?
7. Have you sold, given away, or otherwise transferred any property within the preceding 2 years?
8. Have you begun making your payments to the Trustee?

Less than 5 minutes. Most of the cases before us went the same way. I timed a few of them and they were 4 minutes. One couple had a claim filed on an asset they hadn't listed (they were co-signers on it). One couple had not started making payments even though they filed the middle of September, so they had to visit with their attorney and be recalled. One couple had taken out a large cash advance since filing and will be recalled at another date to account for the proceeds of that money.

60-month plan, 0% to unsecured, surrender tax refunds if over $2000

Can you please tell me how much was your total debt and how much are your monthly payments?

[fltoo]

Nice. It is really great to see these posts.

[trying2getby]

our debt

We had approx. 40k in unsecured Our payment is about $1900 per month and includes reg. mortgage payments, arrearages, 2 vehicles, attorney's fees, and trustee's fees.

We were able to figure our payments pretty accurately ahead of time. Research the exemptions & allowances for your state and the IRS guidelines. Figure your actual monthly income for the six months prior to filing. Make your own budget according to your usual expenses and include the payments for secured items that you wish to keep. Our vehicle payments are included and stretched out over the 60 months. Our trustee requires mortgage payments to be included as well. Any arrearages must be stretched out but paid within the 60 months of your plan. After all these required and allowable expenses, money you have left will be paid into the plan and distributed among your nonsecured creditors that file claims. If you have no money left over, the unsecured creditors get zero. (as in our case)

If you have assets above the exemptions, I don't know how that works.

[justbroke]

Congratulations.

Welcome to the post-341, pre-confirmation Club.

(Yeah, that's right... I started a new club for Chapter 13 filers!)

[Mi Bankruptcy]

quick & painless

Presented 2 forms of ID, sworn in, & then these questions asked:


1. Have you reviewed the schedules & forms your attorney has prepared?
2. Are you personally familiar with the information given to your attorney?
3. You have elected to keep your home?
4. Your payment to the Trustee is $xxx per month. Will you be able to make that payment monthly?
5. Did you take any cash advances within 90 days of filing?
6. Did you pay off any creditor within the last 90 days?
7. Have you sold, given away, or otherwise transferred any property within the preceding 2 years?
8. Have you begun making your payments to the Trustee?

Less than 5 minutes. Most of the cases before us went the same way. I timed a few of them and they were 4 minutes. One couple had a claim filed on an asset they hadn't listed (they were co-signers on it). One couple had not started making payments even though they filed the middle of September, so they had to visit with their attorney and be recalled. One couple had taken out a large cash advance since filing and will be recalled at another date to account for the proceeds of that money.

60-month plan, 0% to unsecured, surrender tax refunds if over $2000

Is your tax return your to keep if it is under 2k? I just thought that was an odd statement if it is over? BTW congratulations

[merlotwaytogo]

Thanks for sharing

Thanks for sharing your story. I want to do chapter 13 but am affraid of the no money left for anything scenario. I feel I would end up right back where I started. Congrats!

[liz417]

Congrats and thanks for sharing your experience.

Here's to a smooth next 5 years.....

[trying2getby]

thanks

yes, if we get a tax refund of under $2000 we get to keep it. It has something to do with the way our attorney completes the paperwork/plan. This was a general announcement at the 341 meeting that everybody here who has Mr. John Doe as attorney will only need to surrender tax returns if they are over $2000. This was made by the presiding trustee.

[2strong]

so when if i filed CH 13 they will or can include all my mortgages. im still a little lost on this. i have a 1st 2nd and heloc would all that go into the bk.