Preparing for continued 341 hearing

[Lajazz947]

Ok, I spoke to my attorney this morning and it does appear as though the US TT is involved in my case.

He thinks that they are going to want to speak about my income and schedules.

What I find interesting is that the only thing over the allowed guidelines is a $200 expense that I list for phones and cable to my home office.

I am above the median by about $50,000 but my 2008 W-2 actually lists me as a little below my average last 6 months of income.

He thinks that they will try to throw me into a 13.

I guess I am just looking for some guidance as to what power they have over my schedules if I use the allowable figures.

My Mortgage is high and is what throws me over but I cannot refinance or renegotiate the loan until I am through with the BK so my hands are tied.

I also defer some income andf I take a set amount monthly.

The rest stays with my employer. While I can access it as I please I keep it there for taxes and such.

What i am planning on doing is going as prepared as I can with my W-2, reciepts, CC statements, all my utility bills, child care bills, home appraisal and everything else I can anticipate going back 2 years, all neatly bound and tabbed.

A question I have is daycare.

My wife is a stay at home mom and we have a 5 year old that goes to school. The 10 month is at home.

How will the US TT see this expense? I think I have every right to place one in pre school and the other at home until he is ready.

I have given up everything but my home so I am a true no asset case, just one with high income.

Any thought on all this?

Thanks

[AngelinaCat]

I am sorry that I have no words of wisdom at this point. Just know that you and your family are in my thoughts and prayers.

[HHM]

Refresh my memory, how high is your mortgage?

Although, I am not surprised and nor should you be the UST is involved. The UST gets invovled in ALL over median cases. Just go along with it, provide information as requested, etc.

Realize, though, there is an inherent cap on what you can claim for secured expenses. Just because you have a high mortgage, does not mean the court must allow you to claim all that expenses as housing.

[Lajazz947]

Refresh my memory, how high is your mortgage?

Although, I am not surprised and nor should you be the UST is involved. The UST gets invovled in ALL over median cases. Just go along with it, provide information as requested, etc.

Realize, though, there is an inherent cap on what you can claim for secured expenses. Just because you have a high mortgage, does not mean the court must allow you to claim all that expenses as housing.

$5500 per month is the payment..

Do you know what the inherent cap is or is it a percentage of income.

[Lajazz947]

Refresh my memory, how high is your mortgage?

Although, I am not surprised and nor should you be the UST is involved. The UST gets invovled in ALL over median cases. Just go along with it, provide information as requested, etc.

Realize, though, there is an inherent cap on what you can claim for secured expenses. Just because you have a high mortgage, does not mean the court must allow you to claim all that expenses as housing.

This seems to rule in my favor.

http://west.thomson.com/practice/ban...1/default.aspx

[eddiep]

HHM
you stated that "The UST gets invovled in ALL over median cases". Does the UST get involved ever if you were under median?

Our income was high for 2008 ($90k), but we are below median for 6 months prior to filing due to job loss and will continue to be below after due to decrease in pay. We do have assets above what can be protected. Do you think the UST will be involved in our case.

[eddiep]

oh I forgot to mention, we have $150k in cc debt. (I know)

[AngelinaCat]

Hi eddiep: There are times the UST picks some unlucky soul for a random audit. That is when everyone is looking at you for all the info you may have including the dirt you may have in your toenails.

Jessegirl seems to be going through that, and Help! went through one before that.

Good luck to you~~~

[Lajazz947]

I am sorry that I have no words of wisdom at this point. Just know that you and your family are in my thoughts and prayers.

Thank you for your thoughts and prayers. It should be interesting given the California case law that I found.

I already printed it up in its entirety and it will be in my files.

[HHM]

Thank you for the case...Do you have a more direct case cite, the WestLaw cite (WL) is proprietary to WestLaw and based on my searches, the case is not published anywhere that I can find (or I should say, that google can find).

However, with many BK judges, and trustees, you are in a for an uphill battle. But good luck.

[Lajazz947]

Sheesh, what a pain in the butt.

Thank you for the case...Do you have a more direct case cite, the WestLaw cite (WL) is proprietary to WestLaw and based on my searches, the case is not published anywhere that I can find (or I should say, that google can find).

However, with many BK judges, and trustees, you are in a for an uphill battle. But good luck.

Well, no one said it would be easy.

My attorney called this morning and the 341 has been continued again.

The US TT wants to know why I did not provide a June paystub.
1-Because I did not get paid in June

They want bank accounts from 2007 to 2009
1-OK, but they will have to wait until the bank sends them and they will note that my deposits match dollar for dollar what my paystubs are.

They want my 2008 W-2
2-Great, my income went down drastically.

So far that's all I know that they want.
Seems like a random audit but I'll give them what they want and march on.

[Lajazz947]

Thank you for the case...Do you have a more direct case cite, the WestLaw cite (WL) is proprietary to WestLaw and based on my searches, the case is not published anywhere that I can find (or I should say, that google can find).

However, with many BK judges, and trustees, you are in a for an uphill battle. But good luck.

I am trying to locate where I found this and I will send it along.

[StartingOver08]

You sound like you have all of your ducks in a row! When I finally went to my continued hearing it was very short in comparison with the first 341 - really only about 15 minutes. And, before I went the Trustee had actually filed the MEANSNO already the sat before my monday hearing. I just did not check pacer to see it before going.

There were some detailed questions regarding expenses, but nothing tricky. This was the time though that the Trustee brought up a business that I had owned in the early 1990's (she got it from Sunbiz.org - our public records of corp's). She just wanted to know the current status (verify). But nothing was difficult.

[Lajazz947]

You sound like you have all of your ducks in a row! When I finally went to my continued hearing it was very short in comparison with the first 341 - really only about 15 minutes. And, before I went the Trustee had actually filed the MEANSNO already the sat before my monday hearing. I just did not check pacer to see it before going.

There were some detailed questions regarding expenses, but nothing tricky. This was the time though that the Trustee brought up a business that I had owned in the early 1990's (she got it from Sunbiz.org - our public records of corp's). She just wanted to know the current status (verify). But nothing was difficult.

Update:

The requested information from the US TT is the same.

The attorney says that he thinks that they are simply doing their due diligence.

The next meeting is 2/23/09 and he thinks that I will not have to go to anymore meetings.

Lets hope he is right.