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Something came up at 341 today

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    Something came up at 341 today

    Well, we had our 341 today. Thanks to this forum, I was not really nervous at all. Only thing that was different from what I was expecting was that each case was brought in front of the trustee seperately...behind closed doors. So, we weren't able to observe other cases to get a feel for how ours would go.

    Anyways...
    Our meeting went well - no real hiccups until the trustee found something that our lawyer messed up on. Evidently, our lawyer used the federal exemptions for us with the understanding that our house was in both of our names. It isn't, it's only in my name. And, we had told our lawyer this.
    (After we got out of the meeting, he appologized profusely for the error.)

    So then I get a call from our lawyers office (a paralegal) just a little bit ago, saying that since they need to correct the exemptions to the state exemptions due to the house being in my name only, that they would need to extend our plan for a longer period of time in order for us to pay in the extra $$ for now non-exempt assets. I mentioned to her that the trustee also brought up a question about when my husbands child support would end. Since half of it ends in just over a year...and the other half in just over two years, could we just apply that extra income to our plan payment.

    Granted we're looking at probably paying in approximately at total of $17,600 rather than the $7,200 than was originally planned...but we'd still only be looking at a 36 month plan!

    I think I'm ok with this.....I just wish there was a way that we didn't have to pay in THAT much more.

    Other than these few (minor I think) changes, we're all set to get back to a stress-free life. We're lucky that our budget seems to be very do-able.
    Filed Chapter 13 on March 16, 2010
    341 Mtg on April 16, 2010, Confirmed on May 7, 2010 (Step plan for 36 months)
    35 months down - 1 to go

    #2
    Another thing I was going to ask was...
    At the end of our 341 meeting, the trustee told us when the confirmation hearing is scheduled for (May 6th...that's quick) - and advised us that we shouldn't plan on attending... unless notified.

    So after the confirmation hearing, are we confirmed???
    (barring any issues that is)
    Filed Chapter 13 on March 16, 2010
    341 Mtg on April 16, 2010, Confirmed on May 7, 2010 (Step plan for 36 months)
    35 months down - 1 to go

    Comment


      #3
      Originally posted by sunshineMN View Post
      So after the confirmation hearing, are we confirmed??? (barring any issues that is)
      If your trustee has no further issues with your plan, then yes, you'll be confirmed by the judge at the hearing.

      Not to make you nervous, but it is possible to have a confirmation hearing and not be confirmed (that happened to us). However, your lawyer will know about this before the hearing because the trustee will communicate whatever he/she is objecting to about your plan. Often your lawyer and trustee can work out whatever the problem is before the hearing date arrives.
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !

      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

      Comment

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