341 today at 3pm

[drummer1]

Hello all, new to this forum. anyway, my wife and I have our 341 today at 3pm...needless to say I did not sleep well at all last night! Can anyone tell me what type of questions to anticipate? and whats the best way to answer the question "What got you into this problem"? How eloborate should I answer this? What if a creditor shows up? what will they ask? do they ask what we charged or baught? Any info would be very helpfull, I will report back after its over. Thanks for your help!

[Cassiopeia]

I'm at work so can't answer you at length, but from my own experience and most others' reported here, the 341 is short and sweet (15 min. MAX, often less than that), and absolutely painless. I have not heard of a trustee ever asking what got you into this mess. That's not important at all. Most questions can be answered with a simple yes or no.

[ssdsco]

Search on "341". It should answer your questions and calm your nerves. Pay particular attention to the moderator's comments. Good luck. Let us know how it goes.

[lrprn]

Welcome to BK Forum, drummer1 - glad you found us!

Can anyone tell me what type of questions to anticipate? and whats the best way to answer the question "What got you into this problem"? How eloborate should I answer this? What if a creditor shows up? what will they ask? do they ask what we charged or baught?

Here's a list of suggested questions trustees can choose from - http://www.usdoj.gov/ust/eo/private_...QsCh13AppC.htm Most trustees have regular few questions they ask - your lawyer can give you an idea of what to expect.

The only questions that are consistent are to state your name and ask for your social security card. Other than that, your trustee will ask whatever he/she wants to ask. Answer only what you've been asked. Volunteer nothing extra.

Frankly, most trustees don't care too much how you got into financial problems. If yours asks, just provide a short and sweet answer -"medical problems", "money mismanagement", "job loss"....you get the picture.

The trustee doesn't ask questions about what you charged or bought unless the item is an asset that you can't protect with your state exemptions. Your creditors care about what you charged or bought but will challenge it only if they think they can prove to the bankruptcy court that you charged or bought a pricey item knowing you weren't going to pay them back. Frankly, if more than 90 days has passed since the charge or purchase, that's very hard to do.

The chances of a creditor showing up at your 341 is very, very small. I wouldn't worry about it.

Do a search here in the forums for "341" - you'll get a ton of information plus read about what happened to members at their own 341s.

The 341 is usually over in minutes and you'll be wondering later today what all the worry was about! Good luck!

[thewife]

Good luck! My meeting is on Wednesday. I am strangely calm thanks to everyone on here who have explained everything perfectly

[drummer1]

Thanks so much, I have had a nervous stomach all night..Its a horrible thing to have to do, I look at my daughter and wonder where we went wrong with our spending etc...but it really just got out of control when gas, heat, electric etc...all cost more, Car payments food, everything doubled for us, it all seemed to happen in one year.My largest fear is that I always have a roof over my childs head and food in her mouth....I dont want some stranger like a trustee to take that away. We want to be honest and just be done with this and move on with life. My wife is so embaressed with this that I am not allowed to talk about with anyone exept you all on here, To know my life went bankrupt is just a sickening feeling, To be honest I dont think I have the energy to argue with a creditor or trustee, just want it to go away and never get into this situation again. Sorry for venting but needed to talk to someone..My parents dont even know, we had to lie to them and tell them we had some other appointment today...it feels awefull...my mom is picking my daughter up at school and has no idea what we are doing..Just a terrible terrible day in my life...I will tell you all how it went when I get back...and thanks for listening...Glad I found this forum

One more thing, I see alot of people here who had an easy time of it and are happy to be breathing easier now....How do you put it behind you like that? I feel like my life is forever ruined? I honestly dont have a rah, rah attitude abou doing this? All I have is tremendous guilt and a feeling of being a complete failure at life, and money manegment? Anyway, thanks again for being here and God bless!

[demismom]

Your life is NOT ruined. Yes, things are STILL tight for us, but knowing that money I'm spending is going towards things such as food, insurance, health needs and such instead of interest is an AWESOME feeling and gives me the sense that I am now in control of my finances, not the other way around. THAT is how I'm able to put it behind me at the moment.

[Cassiopeia]

Your life is NOT ruined. Yes, things are STILL tight for us, but knowing that money I'm spending is going towards things such as food, insurance, health needs and such instead of interest is an AWESOME feeling and gives me the sense that I am now in control of my finances, not the other way around. THAT is how I'm able to put it behind me at the moment.

Well said and I agree totally. I am SO much happier after having filed. Unlike some here, I waited WAY too long to make the final step of filing...I suffered big time through creditors' harrassing calls and my finances getting worse by the minute...had auto insurance cancelled due to nonpayt of premiums, had my phone cut off for nonpayt a few times, had to get help paying utilities from my church, got food from the food bank, and I could go on and on. Are things better for me now? You BET they are. 100% better. It was the best thing I ever did for myself.

[rilbrianne]

I think a lot of us feel happier because we aren't drowning under debt anymore. We can work on our credit, try to make better decisions, and start on a better path.

Me personally, I'm happy to know that sometime in the future I will be able to buy a house that I can pass on to my children. I don't want to leave them with nothing. I want them to go to college and I want to be able to help them if they need it. Before, I didn't have the credit or the money to do so. At least now, we have the opportunity to get rid of the debt and learn from our mistakes... make a better future for ourselves and our children. I have a 4 yr old and a 10 month old and their future was a big reason we decided to go for it.

We are happy because it's a new beginning. I'm not worried about embarrassment. I got past that a long time ago. I would give anything to be able to provide the financial future my kids deserve. If that means my dignity, so be it.

Be happy, don't dwell on the past. Make it a lesson learned and move on to the future.

[rilbrianne]

By the way, don't feel like a failure. It probably isn't completely your fault. We all get caught up in unexpected medical bills, you get behind on your mortgage and break out the credit card, etc. That's life. This country doesn't run on the things it should or we wouldn't be this bad off. Money is the worlds biggest problem. Not that there isn't enough of it.... there shouldn't be any. That's my opinion, it makes people greedy and hateful.

LET US KNOW HOW YOUR MEETING GOES!!

[JollyGG]

Thanks so much, I have had a nervous stomach all night..Its a horrible thing to have to do, I look at my daughter and wonder where we went wrong with our spending etc...but it really just got out of control when gas, heat, electric etc...all cost more, Car payments food, everything doubled for us, it all seemed to happen in one year.My largest fear is that I always have a roof over my childs head and food in her mouth....I dont want some stranger like a trustee to take that away. We want to be honest and just be done with this and move on with life. My wife is so embaressed with this that I am not allowed to talk about with anyone exept you all on here, To know my life went bankrupt is just a sickening feeling, To be honest I dont think I have the energy to argue with a creditor or trustee, just want it to go away and never get into this situation again. Sorry for venting but needed to talk to someone..My parents dont even know, we had to lie to them and tell them we had some other appointment today...it feels awefull...my mom is picking my daughter up at school and has no idea what we are doing..Just a terrible terrible day in my life...I will tell you all how it went when I get back...and thanks for listening...Glad I found this forum

One more thing, I see alot of people here who had an easy time of it and are happy to be breathing easier now....How do you put it behind you like that? I feel like my life is forever ruined? I honestly dont have a rah, rah attitude abou doing this? All I have is tremendous guilt and a feeling of being a complete failure at life, and money manegment? Anyway, thanks again for being here and God bless!

When my husband and I sit down and pay our bills each payday. We have enough money to cover everything. We still sometimes make mistakes, but with a little belt tightening we get past those financial mistakes quickly because we don't have all this debt sitting over us. That is how we know we did the right thing and we can feel good about it.

I'll tell you two things that helped.

1. I told my parents. You need to decide for yourself if telling them is right or not. We didn't tell my husbands parents, but we aren't racked with guilt about that either. We don't have the same relationship with his parents that we have with mine. However, since you feel so bad about not telling your parents I think it is a step you should consider. My dad helped me feel better. Listed off a few of his siblings he knows filed and overall is helpfull. My mom, not so much. But they know and I'm not hiding anything. It helps.

2. I started planning for the future. I remember the day that I mailed off a request for payroll deductions for 529 college savings plans for each of my children (5 months after discharge). It's not much. But I'm doing something constructive with my money not paying debts I'll never be free off. I'm doing something for my kids futures.

It also might help you feel better to plug a few names of relatives and neighbors into PACER (but watch the billable pages). I found one cousin, two aunts, and an uncle who filed and that was only in one district.

[drummer1]

Well its over, I was surprised how simple it was, We were asked the standared questions like who we were, where we live etc...The only thing the trustee dove into a little bit was a second mortgadge we took out in january 2006, she wanted to know what we did with the money etc... Told her we put it back into the house and that was that, There were no creditors there and it was over in about 8 minutes, can We assume thats it? are we now in the 60 day timeline?

[Cassiopeia]

Well its over, I was surprised how simple it was, We were asked the standared questions like who we were, where we live etc...The only thing the trustee dove into a little bit was a second mortgadge we took out in january 2006, she wanted to know what we did with the money etc... Told her we put it back into the house and that was that, There were no creditors there and it was over in about 8 minutes, can We assume thats it? are we now in the 60 day timeline?

You got it!

Welcome to the club!

[drummer1]

Thanks everyone for the support! When will we see some movement on PACER as to whats next after this 341?

Anyway, I know there are tons of people here who have put there 341 experiance up But I will elaborate some in the hopes that it helps someone else!


We got to the court early, our lawyer said it was a good idea to sit there and listen to the other cases to learn what questions are asked and see how the process works..So we did, I could not shake the feeling however that what I was hearing was other peoples most personal information, I just put it out of my head and listened, my wife acually was sitting there feeling bad for everyone it was almost like we forgot for a moment that we were there for the same thing...Anyway, there were not that many cases there, 5 before us and they all went fairly fast...Then it was our turn!

We were swore in, and then the standered questions were asked....The question came up about what our house was worth, my wife told her and betwen that and what weowe determined that there is no equety, especially in this market as it is now...This also included our second mortgage for which she did grill us on a bit and I was starting to get somewhat uncomfortable...But it didnt last long she wanted to know what we did with the money..we told her it went back into the house..she also asked us about an apraisal which we dont have, she found it odd we didnt have one from the second mortgage but never went into it....She then asked if there were any creditors there and there was none...she said have a nice day and good luck and we walked out...it was as simple as that


Trust me, no one could be more nervous than I was and if I say it was easy...trust me it was easy! there is nothing to worry about at these 341s..

Do any of you think this second mortgage thing is going to be a problem? Just curious?

Lastly, our attorney felt there was nothing to worry about , is that ture, does this all sound fairly the norm? Thanks so much!

[SinkingFast]

Congrats, Drummer!!

After you've checked thru your Case on PACER, make note of the last Date anything was filed. If that date does not change, nothing new has been added or updated on your Case. No need to look further.

Depending on your Trustee and your Court's capabilities, your "No Asset" Report could have been posted immediately after your 341 today. If not today, possibly within a week or so.

From there, the next change will be when you file your Post BK Debtor Ed Cert. Don't forget to take that class!!

If all goes well, that's all that will happen in the next 60 days.

Once your last day for Objections and Extensions arrives, it really depends on Court procedure or the Trustee's routine as to when you'd see Discharge. Our Court here has a 1 week waiting period. Other folks on the Forum are Discharged, and in some cases Closed, the very next day.