Another 341 story...

[dp1969]

Oh boy, I'm glad it's over! For those who are nervous, unsure, sad, excited (?), etc...hope this helps.

Here's how it unfolded...
Went into the court room (very quiet and informal) and took a seat. The local trustee still had the 10am cases going on so we listened to his questions. Got an idea on what he would be asking. Another lawyer (appointed by our original attorney) came in and asked us to come out side. He briefly went over what could be asked of us. Told us what to say on how we came up with the figures for the value of our home and our damaged boat. Went back in for the 10:30 hearings and the trustee passed out 2 pieces of paper; one for the BK process and the other regarding Debtor Education. After about 10 minutes, the trustee called us up. We were told to stand, raise our right hand and "swear to tell the truth". He ask for our ID's and SS cards. We stated our names for the record and sat down. His computer didn't download our BK filing from PACER and only had our tax return (2006) in front of him. The attorney assigned to us didn't have paperwork, either. Yes, I brought mine and promptly handed it to him. He took a quick look and asked how we came to the value of our home. I stated, "that I looked at comparable homes for sale on our street." He seemed satisfied with that. He asked if we signed our BK paperwork and if all our assets and debts were listed and we replied, "Yes". Last question was, "any changes to our employment since filing?". That was a no. He then said, "that's all for now" and out the door we went. He was stern but very polite and made the whole process go smoothly. He had asked people prior to us, several more questions and had gotten irritated when things were missing or questions couldn't be answered.

No mention of taxes or a possible tax return for 2007.
No mention of the "proposed rebate checks".
No questions about the fact we were surrendering our home or about how we came to the value of our boat.
No questions about reaffirming our car loan.

Not saying that these questions might arise later but I'm glad it went very well. On to the discharge waiting period.

BTW-I thought my legs were going to give out when we walked out of that courtroom! That's how nervous I was. My husband was actually shaken up, too.

[lovescats1956]

Whew! That makes me feel a bit better. My 341 meeting is scheduled for March 7th and I'm converting from Ch. 13 to Ch. 7 so I'm sure you can imagine how nervous I am!

[lrprn]

Now you can relax - the 341 is over! Sounds like you were well-prepared - so glad everything went smoothly today and especially glad that you didn't fall down on the way out! Hang in there - the days to discharge are ticking down...

[dp1969]

I'm so glad I found this forum! It's been such an informative and inspirational support that I can actually sleep at night. Hasn't been like that for a long time. Even my husband likes to hear what I've read in a day's time.

[gophermn]

dp1969, did you file on your own or have an attorney?
I know I am freaking out over the 2007 taxes and rebate but like someone said earlier, you can take my $$$$, just wipe me clean of the debt I accumulated.

On a side note I heard that the Trustee might or might not ask for returns or rebates the day of the 341, is that true? Do they also have 60 days to make that decision? Afterall, if we are filing BK and get a refund back - how many people in here are going to not spend some of that refund on items you are reaffirming like mortgage, car, etc?

I just dont want to spend $$$ on my debt I am reaffirming to find out the Trustee wants every penny-nickle-dime.

[gophermn]

Oh yea, congrats on a smooth 341!!!!

[Minnymouth]

Regarding the refund and rebate issue..... I would for sure wait till after "discharge" to spend any of those funds. During the 60 waiting period the Trustee can request information or notify you that you need to submit the refund to him should you receive one.

If he didn't mention it in the 341 meeting he probably is not concerned with getting it.

But to be on the safe side, forget about it till after you get your discharge papers.

[dp1969]

dp1969, did you file on your own or have an attorney?
I know I am freaking out over the 2007 taxes and rebate but like someone said earlier, you can take my $$$$, just wipe me clean of the debt I accumulated.

On a side note I heard that the Trustee might or might not ask for returns or rebates the day of the 341, is that true? Do they also have 60 days to make that decision? Afterall, if we are filing BK and get a refund back - how many people in here are going to not spend some of that refund on items you are reaffirming like mortgage, car, etc?

I just dont want to spend $$$ on my debt I am reaffirming to find out the Trustee wants every penny-nickle-dime.

Gophermn-
We had an attorney...very nice but I see why people file pro se (expensive). I'm actually going to file my taxes tomorrow. Our lawyer is not concerned with the taxes; I'm hoping to keep our refund. The local trustee is a lawyer in the same town as my attorney so I believe they know each other. Therefore, our attorney would know most of the trustee's concerns and questions.

By the time that "rebate check" actually gets to us, it will probably be long after the discharge (knowing the government).

[PaKettle]

Oh boy, I'm glad it's over! For those who are nervous, unsure, sad, excited (?), etc...hope this helps.

Here's how it unfolded...

[edit...]
No mention of taxes or a possible tax return for 2007.
No mention of the "proposed rebate checks".
No questions about the fact we were surrendering our home or about how we came to the value of our boat.
No questions about reaffirming our car loan.

Not saying that these questions might arise later but I'm glad it went very well. On to the discharge waiting period.

BTW-I thought my legs were going to give out when we walked out of that courtroom! That's how nervous I was. My husband was actually shaken up, too.

As to the tax question, ask your attorney what this trustee usually does about this. He should know. I take it you did not have exemptions you could use to protect the taxes/rebate?

Anyway, glad your 341 is over. Mine was actually one of the most nerve-wracking ones since the US Trustee audited our meeting. But in the end it was okay (as far as I know - STILL waiting for final discharge!)

Good luck to you! Hope you get to keep your tax refund and rebate!

[dp1969]

Pa-

We were very close for the exemptions. We really wanted to exempt our boat so the taxes were not listed. I do, however, think we had about $4k leeway but we still did not exempt them. Like I stated before, our attorney didn't want to know of a possible refund. I'm sure he knew the local trustee (attorneys in the same town). Also, we've had some changes in income so we might not be getting back as much as last year.

I've filed my taxes and expecting a quick refund so I hope the trustee (if he wants it) acts fast. If I wasn't told not to spend it, it's going to be used to pay off some medical deductibles for the new year.

~DP