341 and payment plan

[Kingxray]

We have our 341 tomorrow for BK13. Can anyone give me an idea what to expect? I am an absolute wreck.

Also, we do not have our payment plan yet. Are we required to have one prior to our 341? We will have a creditor show up (my dad's lawyer) but I can't see what he could ask or object to without having a payment plan.

Any thoughts? Thanks.

[SMinGA]

Just posted in your other thread. Contact your atty about your plan. It probably should have been filed by now. Perhaps your atty did file it?

I don't think its possible to actually hold a 341 (13) without a plan being filed, and that you would have received a notice from the court about it if it were not yet filed.

[NoTomatoCan]

Spend some time combing throught the 341 section of this forum. I did that with my wife and it really put her at ease.

Not sure the exact number, but I believe roughly 99.99% of all the posts go something like this:

"That was a breeze! I have no idea why I was so worried! It took less than 10 minutes and was no big deal!"

You will be fine. So long as you have been honest and up front in your filings and aren't trying to hide anything, there is nothing to worry about. Just be honest and it will be a walk in the park.

I am a bit confused how you don't have at least an initial payment established. I thought that a proposed plan had to be submitted within 14 days of your initial filing.

[Kingxray]

Spend some time combing throught the 341 section of this forum. I did that with my wife and it really put her at ease.

Not sure the exact number, but I believe roughly 99.99% of all the posts go something like this:

"That was a breeze! I have no idea why I was so worried! It took less than 10 minutes and was no big deal!"

You will be fine. So long as you have been honest and up front in your filings and aren't trying to hide anything, there is nothing to worry about. Just be honest and it will be a walk in the park.

I am a bit confused how you don't have at least an initial payment established. I thought that a proposed plan had to be submitted within 14 days of your initial filing.

I should have mentioned that we are converting from a BK7 to a BK13. Maybe that has something to do with it? We filed BK7 back in June and had our 341 etc. The UST objected and we decided to convert.

[Kingxray]

Just posted in your other thread. Contact your atty about your plan. It probably should have been filed by now. Perhaps your atty did file it?

I don't think its possible to actually hold a 341 (13) without a plan being filed, and that you would have received a notice from the court about it if it were not yet filed.

Thanks. I did see your reply on the other thread and responded. My dad is a creditor and as I said above we are converting from BK7 to BK13. I wonder if that has anything to do with it. Can't talk to lawyer until tomorrow at the 341. Maybe he will have the payment plan for us then.

[SMinGA]

Perhaps check PaCER if you have not already done so. Might look bad if the trustee has your plan and you are not aware that it even exists - since you'll be asked to confirm the accuracy of said plan & your petition.

[Kingxray]

Perhaps check PaCER if you have not already done so. Might look bad if the trustee has your plan and you are not aware that it even exists - since you'll be asked to confirm the accuracy of said plan & your petition.

Yep, I checked Pacer and nothing has been filed. Maybe he will file it tonight or tomorrow morning? Is this a strategy in case my dad's lawyer shows up tomorrow? I'm just going through all the scenarios in my head.

[SMinGA]

Its possible, I suppose. Might also be that your atty does not work with many 13's. (Not uncommon, probably is true of most attorneys. More 7's are filed, and they're probably better income producers for attorneys.)

Perhaps others will chime in about their conversion process?

Yep, I checked Pacer and nothing has been filed. Maybe he will file it tonight or tomorrow morning? Is this a strategy in case my dad's lawyer shows up tomorrow? I'm just going through all the scenarios in my head.

[Kingxray]

Phew! Just got off the phone with our lawyer's office we are going to his office this afternoon to sign the payment plan. Glad we called. Talk about waiting until the 11th hour! Now I just need to make it through tomorrow's 341-ugh.

[NoTomatoCan]

WOW! I am surprised that the trustee was ok with this. Ours almost certainly would have cancelled the 341 a week ago!

And don't sweat the 341! Now that you have the plan thing figured out, the 341 should be a breeze!

[SMinGA]

Remember, the attorney works for you. (You're paying him...) Make sure the numbers are right, or make sure the atty changes them. And if you're not sure why he puts some of the figures as he does (he should know what gets grouped together on schedule J, it does not follow the same format as the means test) have him show you.

You should also only sign the plan once you have a clear understanding of what (if any) secured debts are being paid in the plan, and what you'll keep paying directly.

Phew! Just got off the phone with our lawyer's office we are going to his office this afternoon to sign the payment plan. Glad we called. Talk about waiting until the 11th hour! Now I just need to make it through tomorrow's 341-ugh.

[Kingxray]

Thanks for your imput. We are using the numbers from our BK7 filing with a few changes, so it should be fairly streamlined. According to our lawyer it can also be amended after we get confirmed.

Thanks notomatoecan for your well wishes on our 341.