341 meeting of creditors - Share Experience

[aa06a47]

aa,

you will be fine. I had my meeting today and was completely stressed out. I thought I was going to freak when a creditor showed up. Everybody before me was in front of the trustee about 5 minutes. Mine lasted about 30 minutes. The creditor asked far more than the trustee. This woman (the creditor) just kept throwing questions at me. My atty was even suprised. Heck, I think the trustee was even suprised. The trustee kept saying "thank you for bringing that to my attention", when the creditor asked questions. Atty had told me that creditors never show up. It was borderline ridiculous. Glad it is over. Good luck to you--let us know how it goes.

I would be freaking out if a creditor drilled me for 30 minutes. I'm actually surprised the trustee allowed that.

Well, off I go, thanks for the words of encouragment. I'll let you all know how it went when I get back.

[nervousSC]

Good luck aa! Can't wait to hear how it went!

[aa06a47]

My 341 Meeting

First of all

And thanks to the many people on this board for there support and advice.

I'm guessing there were about 45-50 cases. The room held 85 people, and there were not many empty chairs. Alot of couples filing, and alot of eldery people. Most of the people were up there about 3 -5 minutes at most. There were 6 people left in the room when I finally got called. The 2 hour wait gave me a chance to calm down. The way the room was set up, you really couldn't hear too much. The trustee kinda got loud with some of her questions but people faced away from the crowd so you couldn't hear them answer.

On my case, they focused on 4 things (onces the regular questions got asked, like did your attorney talk to you...where do you work...etc. )

The 4 things were:
1) How did I come up with the value of a lot I own. I answered that one OK,
2) I needed to provide them proof of the credit cards that were paid more than 600 bucks in the past 90 days. I had given all that information to my attorney and she said she would bring it to there office this afternoon, and the trustee said fine.
3) I showed a large about of gambling winnings/losses in 2005. The wanted it broke down into the 6 month period before filing. My attorney explained it was a net loss so there really wasn't any "income" to show. My attorney indicated she had confered with the US Trustee and the trustee agreed with not showing it as income. The trustee said, fine, it will not be brought up as an issue.
4) They didn't understand what the mandatory deductions taken from my pay check where. All my attorney had to do was show the break down on it.

There was one other clerical error, I believe on the part of the court itself in how it was treating my mortgage payments. Not an issue, just has to have the paper work corrected.

Then it was, thanks and have a nice day. I would say I was up there 10 minutes. I would say I was up there longer than anybody else. The older people barely got there wallet out to show the id when they said fine, have a nice day.

My attorney and I talked after the meeting. She said she was surprised how well it went, she said the gambling issue is now behind me because the trustee was not objecting to it. She hadn't told me this prior to the meeting or anytime when she was filling out the bk petition, but she said after the meeting, she figured we would have to go to court to settle the gambling issue. She said it looks like a simple confirmation now and I won't need to be there (Unless something happend in the next 60 days of course)

She indicated they will probably just abandon the issue with the creditors paid more than 600 bucks, but that doesn't really effect me anyway.

Anyway, the 341 meeting is over. Another 2 months for objections and 59 more months of payments and my life will be much better.

Again, thanks for all the support many of you have given.

[aa06a47]

More good news

My attorney just called me. She was working with the trustee on my case after the 341. She said the trustee wants $20.00 more per month and we can get my case confirmed Tuesday. I said sure.....go for it. I was worried they would be wanting 200 more, 20 more sounded like pennies from heaven!!!!!!!!!!



Only question, I guess even with the plan confirmed, there is still time for objections.

[scla]

Most 341 hearings are routine and most trustees ask the same questions. Of course the trustee can always ask additional questions if there is a situation he wants to clarify. It is very rare that a creditor shows up to the 341 hearing. Generally the time that you are being asked questions ranges from 3-7 minutes. It is pretty short and quick for most people. You can find a list of some common questions that are asked here Meeting with Creditors

[needanswers]

(deleted when I realized previous posted bumbed a very old thread)
apologies