Confused about all the differnet meetings/deadlines..need clarification..

[flower04]

In our paperwork, we have several "deadlines"
The first is the meeting with creditors which will take place 8/15
Then, 12/14 is the deadline to file a proof of claim
BUT then there is another meeting on 10/8 called "Hearing on confirmation of plan"

So, I'm trying to wrap my brain around this. First, we meet with trustee and credtors. Second we go to a hearing to confirm the plan, but then what is the "file a claim" part. Wouldn't that need to be done before the confirmation hearing?

THanks for any insight you can provide

[AngelinaCat]

Hi Flowers04:

Your meeting of Creditors, commonly referred to here as the 341, is where you meet with the trustee and any creditors that choose to appear (rare, but it does happen.) According to your timeline it should have happened last Friday, right? Did it? Ord did you mean September 15? August 15 was a Saturday.

Once that is over, your creditors have 60 days to file objections to your discharge of their particular debt. That is the October date.

The Confirmation hearing is when you and the trustee meet to confirm your payback plan in Ch 13 and if it is workable with your income or not.

I hope that helps. Good luck.

[hearr]

Hi Flowers04:

Your meeting of Creditors, commonly referred to here as the 341, is where you meet with the trustee and any creditors that choose to appear (rare, but it does happen.) According to your timeline it should have happened last Friday, right? Did it? Ord did you mean September 15? August 15 was a Saturday.

Once that is over, your creditors have 60 days to file objections to your discharge of their particular debt. That is the October date.

The Confirmation hearing is when you and the trustee meet to confirm your payback plan in Ch 13 and if it is workable with your income or not.

I hope that helps. Good luck.

This brings up a question I have. Since the confirmation hearing is approx. (at least in this case) 2 months after the creditors' meeting, when do you actually start making your plan payments? And what happens if, when you meet with the Trustee during the confirmation hearing, and he/she says your plan/payments are not acceptable/workable as you state above. By then, it seems you would be worse off that when you filed. And particularly if during this period you surrendered a vehicle; then you would no longer be protected by the stay, right?

Ken

[flower04]

You are right, the "341" is September 15, not 8/15, sorry and thanks for the info.

We are making our first payment this week! You have to pay within 30 days of filing.

So, we meet with the trustee 2 times and the december date, the "proof of claim" is just a deadline, not necessarily something we need to attend.

[AngelinaCat]

No, the December date is just a formality. We didn't have to attend ours. But check with your attorney in any case. Different districts and courts have slightly different procedural rules.

[lrprn]

In our paperwork, we have several "deadlines"
The first is the meeting with creditors which will take place 8/15

As Angelina said, this meeting is what is commonly called the 341 meeting. You and your lawyer meet with your trustee. The questions asked are very similar to what is asked during a Ch 7 341 meeting. This is a meeting you MUST attend.

Then, 12/14 is the deadline to file a proof of claim

In Ch 13, your creditors have 90 days to file claims to be paid back by your plan. Government creditors (IRS, etc) get 120 days to file claims.

BUT then there is another meeting on 10/8 called "Hearing on confirmation of plan"

This is the meeting that only your lawyer has to attend - you do not. It's where the your Ch 13 plan is officially confirmed (or not). If your trustee or a creditor have objections to your plan, you'll hear about it from your lawyer long before your confirmation hearing.

Hope this helps clear things up! Welcome to the 60 month club

[flower04]

Thanks so much for all your input! We are actually in the 36 month club since we are in a 3 year 13, but having it started and getting on with our life is the best thing.

[TrainWreak]

I could be wrong since I am new to BK but i think the 60 day club is the 60 days after your 341 meeting. During that 60 days any of your creditors can object to a discharge of all or a portion of their funds. It doesn't mean they will succeed but that gives them a window to try if they want to.

[Abbey]

Thanks so much for all your input! We are actually in the 36 month club since we are in a 3 year 13, but having it started and getting on with our life is the best thing.

incase no one told you, i was not told the 36 months does not begin till you are confirmed, yes you pay into the plan right away but the payments don't count till you are confirmed so a 36 moths plan is really a 39 month