Filing Chapter 7 Monday

[soleprop]

looks like your experience will be of benefit to the board. keep us posted.

[UpACreek]

I was just discharged a few days ago.

I was $110K income, $120K equity in primary home, negative equity in 2nd home, $22K equity in two cars, more than $160K cc debt.

I was able to stay below the means test line because the cashflow out on my second home mortgage dropped my below. I was able to use this even though I surrendered the second home.

341 was fine. I got the feeling that I was not special, he had seen it all before.

UAC

[evilxs]

looks like your experience will be of benefit to the board. keep us posted.

Will do, I just plan to keep adding my story here as it unfolds.

Paid my lawyer today the first $1,100 ouch. What hurts most is being told to keep making house payments and rent payments. ouch ouch ouch.



The thing that will have to get a little behind to do that is student loans. Can they change your interest rates if you get behind - anyone???

I was just discharged a few days ago.

I was $110K income, $120K equity in primary home, negative equity in 2nd home, $22K equity in two cars, more than $160K cc debt.

I was able to stay below the means test line because the cashflow out on my second home mortgage dropped my below. I was able to use this even though I surrendered the second home.

341 was fine. I got the feeling that I was not special, he had seen it all before.

UAC

wow, this is a huge sigh of relief. Something similar to my case, and going off with no hitches. Thank you so much for posting.

How far above the median income were you for your family size and area?

Hey mods - can I change the title of this thread to "My Chapter 7 Story" ??? I'd like to just keep updating here...

[evilxs]

Ok, it is official I am filed, just got the call from the attorney, how nerve wracking!!!!

I guess it will show up tomorrow in the PACER then?

[evilxs]

I think I lost my job today. I am still in shock. That was completely unexpected. They'll know for sure in a few weeks. Just wow, what timing.

I don't even know what to think. Just shocked. They've laid off a lot of workers seasonally. I know they do let people go, just wow.

[liz417]

I think I lost my job today. I am still in shock. That was completely unexpected. They'll know for sure in a few weeks. Just wow, what timing.

I don't even know what to think. Just shocked. They've laid off a lot of workers seasonally. I know they do let people go, just wow.

Wow, so sorry to hear about your job loss (seems like it's happening to more and more people on this board). Hang in there, hopefully you won't have any objections to your ch 7 now and it will move along smoothly.

I wish you the best...

[ready2puke]

Talk about salt in an open wound...Im so sorry...Heres hoping you get something better just not before your 341

[evilxs]

Thank you both very much, it was salt in the wound but more importantly really just served as confirmation that I really am doing the right thing.

I just sit here and beat myself up sometimes thinking hey it might have gotten better or maybe you could have tried longer, but it is really past time I gave in and filed. I did get really good news today, my 341 has been scheduled, December 3rd here we come :/ Nervous, just trying to get everything together in my mind. I really hope work tells me one way or the other well before then. I think it would probably be a pretty good thing to know for the 341.

[evilxs]

341 was delayed because of a lawyer's illness. Had it this week and the US Trustee showed up for my case. Regular Trustee asked name, address, DOB, place pf employment, any unlisted assets, do you know what you're doing? US Trustee questioned family numbers, dwellings, the need to keep my house, the level of income I have. Etc. He is going to call for depositions and has stated a presumption of abuse. We expected this, so now comes my battle.

[evilxs]

Trustee went to lunch with my lawyer to get a background on the case. He doesn't think he can win against us in court and has backed down. this week I received a letter from the US Trustee that he has found no abuse upon examination of the case

[AngelinaCatHub]

Great news. Offsets the loss of job a bit. Good fortune to you. 'Hub

[deepend]

How wonderful! Now, maybe, you can take a breath and relax a little.

[drowningindebt1]

Just a question

I am so new to bankruptcy, I am only 27. So my question is, why did you have to go to court, isn't that what the 341 meeting is, if not, what is the 341 meeting, who is involved? What is asked at this meeting?
Thanks for any input

[Lajazz947]

I got the call from the lawyer and we're filing chapter 7 Monday. We fully expect the case to go to court. What was your court like? What kinds of questions might I get or what might come up?

I am well over the means test, but there is nothing frivolous here. He actually said he does not expect any objections to the means, it is the totality of the situation that will put us in court. He says we'll be fighting the presumption of abuse, but thinks we have a shot of winning. I'm pretty nervous but willing to fight. Any advice?

Who here has gone to court on a chapter 7?

Nothing to add here but where are you located?

The trustee sounds like a real jerk.

[StartingOver08]

Trustee went to lunch with my lawyer to get a background on the case. He doesn't think he can win against us in court and has backed down. this week I received a letter from the US Trustee that he has found no abuse upon examination of the case

Thank goodness the Trustee saw the light! Congratulations on getting your CH 7 without having to go court on presumption of abuse!
The rest should be downhill from here! (BTW, I got a CH 7 discharge, and I was OVER median income by $70k - the others are correct - it is the means test and sch J that determine the outcome)