Filed...waiting for 341....then what?

[waitinggame]

Hi All,

From what I have read, 341 meetings are not that bad - seems that most stories are encouraging. What happens after the 341? Do we go to another meeting (confirmation meeting?). Meanwhile payments are being made - what happens if the amount changes? Are we going to be responsible for any differences?

Has anyone had problems in Middle District PA?

Thanks for any help.

[SMinGA]

My understanding is that you will probably not need to attend the confirmation hearing - and that if something needs to be changed you'll probably know before the confirmation hearing. If the plan gets modified, it will most likely reschedule the hearing since to allow time for the court to notify creditors of the amended plan. Your attorney should stay in touch with you about it - but you'll also get notice from the court if the trustee files any objections. (Which is not necessarily anything to worry about, that is the trustee's job...)

[researchnerd]

Just had my 341 meeting yesterday. The trustee documents any objections to your plan confirmation, and you need to make modifications based on those objections before your plan can be confirmed. As SMinGA mentioned, your confirmation date can be rescheduled, because your creditors have to be sent the amended plan and have time to respond.

I found our trustee's objections on PACER today. We have 15 (!!) objections but my attorney screwed up a bunch of things, so a lot of them are just corrections that we already knew about. Interestingly, one of the objections was to the attorney's fee (said it was too high for an uncomplicated case).

If the amount of your payment changes, I am sure they will let you know what the new amount is and when it's due. As long as you keep up with the payment amounts initially agreed on until that time, I don't think they can hold you responsible for the difference if it goes up -- but I don't know for sure.

[ColoradoBell]

I filed on June 22 but did not submit my plan (due July 6).
Working on it with attorney tomorrow!
So would my first (proposed) payment be due on July 22?
If my confirmation hearing is now set for Sept 2...if the trustee or any
creditor objects would the delay in confirmation be automatic?

[ColoradoBell]

1

[jange]

I'm not sure if it is like this in all districts but in Eastern PA, my payment went up after the 341 meeting and my attorney adjusted the payment an additional $20 per month to make up for the 4 months I had already paid into the plan.
filed 1/11/10
confirmation 7/20/10???

[researchnerd]

I filed on June 22 but did not submit my plan (due July 6).
Working on it with attorney tomorrow!
So would my first (proposed) payment be due on July 22?
If my confirmation hearing is now set for Sept 2...if the trustee or any
creditor objects would the delay in confirmation be automatic?

Yes, typically your first payment is due 30 days after your BK filing date -- not 30 days after you submit your plan. My attorney gave me a notice with that highlighted in BIG PRINT so I couldn't miss it.