Tell me about your 341

[MEA2]

The 341 appt. is tomorrow.Just wondering how long your meeting was?If it was relatively painless?Or if you had problems Basically the good,the bad and the ugly!

Thanks!

[Donald Baker]

I was gonna ask the same thing, got my letter today, my 341 is scheduled for 4/20

[SinkingFast]

The thought of it is generally worse than the actual meeting in most cases.

The Trustee will adjourn the meeting with some sort of general comments. Pay attention as your Trustee will probably state the date all cases heard that day will be scheduled for Discharge.

I don't remember if ours told us his name or not. He did talk about income tax returns. That Refunds are a voluntary savings program set by the number of exemptions you claim. As such, it's income earned thru out the year and subject to be taken by the Trustee "for the benefit of your Creditors" he said.

During the actual questioning, he checked our SSN cards and our photo ID (driver's licenses). He swore us in. Asked which one of us wanted to testify. The men were testifying so Hubby took on that job.

The Trustee asked if we had seen the "Trustee's Statement Sheet". Your attny has had you sign one. It's standard for all BK cases. He asked if we'd reviewed our petition for accuracy. Did we actually sign our petition. Was it a true and accurate statement of our financial affairs.

We had sold our house before filing, so the Trustee looked at the Settlement Statement to see how much money we made. We lost a little. Then he looked at our Income Tax returns from the last 2 years. We got a big refund for '04 and paid big time for '05. So the Trustee said he wanted to see a normal year's returns when we filed for '06.

At the end, the Trustee asked me if I agreed with Hubby's testimony of the facts as presented in our case. I said Yes.

That was it. We were done. The whole thing didn't even last 5 minutes.

[CATCHMEIFYOUCAN]

Everyone scheduled was given the hour or two long required financial course just before the 341 meeting given by the Trustee and his assistant(s). Than "the meeting." Mine was a breeze, standard questions I am who I said I was etc.

When I converted to Ch7 I had another 341 meeting with a new Trustee. He asked why I was converting and I told him because I couldn't stand working 80 hours a week the "rest of my life." He smiled and said "Heh, THATS a good reason!"

CMIYC

[coma]

Ours was very simple as well, jsut a bunch of yes and no questions. We filed old law, pro se. Through about one week after the meeting, we had our run-in with the UST. So the meeting can go great, but there can be problems afterwards. Not trying toscare you or anything, but just don't get lulled into a false sense of security, because there can be trouble, though probably more often than not, you'll be fine.

[BKTango]

Ours was painless, and we didn't sit in a room filled with all other debtors (it seems every respected each other to wait outside the door). It literallt took all of 10 minutes if that. Just alot of "state your name" and simple "yes or no" answers. That was it.

[JollyGG]

We showed up. Other 341 meetings were already in progress. There were a few people sitting inside waiting and a few more outside the room visiting with their lawyers. Our trustee got really crabby with anyone talking/wispering in the room (which I can understand). Once we were there a few minutes our lawyer showed up. He made sure we had gotten the piece of paper we were supposed to read.
When our turn came the trustee asked for our ss card and asked for last years tax returns. Our lawyer had forgotten the tax return so she had us wait while our lawyer when and got it while she did a few more 341's. Once he returned we continued our 341. She asked us both to answer all questions and to please speak loudly and clearly for the recording. She asked a number of yes, no, and very short answer questions. Asked us some questions about our petion that had already been emailed to our lawyer. She commented that she appreciated that we had watched a few 341s while waiting our turn. Because that allowed us to anticipate the questions and ask our lawyer questions before we were in front of her. That way our 341 went quickly and we were able to answer all the questions confidently and quickly. Then we were done.
The hardest part was finding where we were going. I would make sure of your directions and where to park before you go.

[ccidiot01]

Ours was painless, but a bit more complicated. Our income required we pass the Means Test, which we did with a negative $200/month. Since our income was decent, the US Trustee thoroughly combed through our bank statements.

In addition to the typical questions asked during our 341, we had to conference in the US Trustee. She asked a few questions about our bank statements. As a result of 5 Ebay sales (I lost money on all 5), the US Trustee said it was an "Ebay Business" and we had to resubmit an ammended Means Test with the Ebay sales income factored in. We still passed with a virtual break-even and the US Trustee dropped any objection to our case.

Our file was complete and our info was well organized and our attorney was on top of everything, so despite the little curve ball, everything went fine.

[SinkingFast]

I would make sure of your directions and where to park before you go.

I definitely second that comment.

Our paralegal told us street intersection of the Federal Court House. I decided to drive by one day just to get my bearings on where the building was, where the entrances and exits were, and where to park.

Could not find the Court House!

So later I checked on the Net for the street address and map at our BK District home page.

Our paralegal had told us the wrong Street Intersection! The paralegal musta been thinking one thing and said another when she told us where to go.

I had been looking a couple of blocks over from the Court House. And our Court House is very understated. Sits back off the road. So I didn't realize that building was the Court House.

Plus, there were one way streets we had to deal with as well. We wound up parking several blocks away and walking to the Court House.

Definitely do a drive by in advance so you'll know where you're going. If there's road construction you have to work around. That type of thing.

[Hopeless]

About 341 - how do you "sum it up"?

A while back I had asked if many who have already been there have been asked at their 341, "how did you get yourself into this debt?" And the answer was, "yes"!

I'm wondering if anyone could share how they summed it up precisely.

I know that if asked that question the last thing anyone will want to hear is some long, drawn out explanation! My gut tells me the "short version" is the way to go

So, even though troubles began with divorce and such, that would be going perhaps further back (a few years) than necessary and could also give the impression that I'm looking to put the blame elsewhere instead of just owning it myself - which I do.

The bottom line for me is loooong stretches of unemployment, bad choices for certain, leaving a job for another job that fell through and then more unemployment, borrowing from Peter to pay Paul...

My concern about that is when I read articles saying that if you used your card when unemployed, regardless of what it was used for, you'll be hit with charges of fraud, non dischargeability actions, etc.

I don't want to go in there and give a song and dance, but don't want to hurt myself further.

I'm so terrified about this proceeding next week that I'm not sure my legs will stay under me and I'm trying to mentally prepare as best I can.

So I thought I would come to the experts here to find out how others that were asked that question were able to address it without rambling for 15 minutes!

Many thanks in advance for any feedback or advice.

[Hopeless]

MEA2-how did it go??!

Always anxious to hear about 341 meetings and hope to hear yours went well!

[SinkingFast]

Hopeless,............

I don't remember our Trustee asking how we got ourselves into the position of having to file BK.

Don't hold me to that, but I don't remember that being a question you'd have to worry yourself with.

Maybe prepare a short 1 sentence version of the truth.

Divorce coupled with a series of job losses and extended periods of unemployment.

It's true, short, sweet, and to the point.

[Hopeless]

Thank you, SF. I appreciate you taking the time.

No doubt you're right - keep it short and sweet!

Many thanks.

[CATCHMEIFYOUCAN]

About 341 - how do you "sum it up"?
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A while back I had asked if many who have already been there have been asked at their 341, "how did you get yourself into this debt?" And the answer was, "yes"!

I'm wondering if anyone could share how they summed it up precisely.

Hmmm, I don't think I've ever heard a Trustee asking how you got yourself into Debt (as most don't care - they just want FIGUREs on how much can you pay back!). I think it would be obvious from bank statements etc (kind of gives them a picture of your spending habits.) BUT if I were asked THAT question, I would just say, "poor money management."

Best Wishes, CMIYC

[bige1030]