Who decides on filing date?

[2live]

I'll be filing in March, hopefully late march but I have weekly chemo treatments I have to make, can I request a certain date for the 341 or is it a toss up??

[TEW]

nope it's assigned by the court......

[2live]

How much notice are you given??

[relief13035]

You will have about a month's notice.

[debtmonster]

That absolutely SUCKS!! I get paid on the 15th of each month and I wanted the date to be right before I get paid so that way I'll know when to have $30 in my checking on the day I file.

[OhioFiler]

That absolutely SUCKS!! I get paid on the 15th of each month and I wanted the date to be right before I get paid so that way I'll know when to have $30 in my checking on the day I file.

You can file any day the court is open. The other poster is curious about scheduling of the 341 meeting.

[2live]

ok thanks!

[debtmonster]

So then my attorney can file on the 13th or 14th when I'm down to $20 bucks in my checking account and that's the snapshot they will get?

When you file, do they want to see a screen shot of your bank balance for that day? How does that all work?

[StartingOver08]

To the OP, I remember the chemo treatments and they can be debilitating - why don't you discuss with your attorney to see if there is anyway the Trustee can work with you on the 341 date. There must be some latitude by a few days.

[wonkettegirl]

OP, in my district they are ALWAYS held on either the 1st or the 15th of each month. perhaps your district has a similarly regular schedule and you can plan accordingly. Or, as the previous poster said, ask for some assistance given your particular situation.

[2live]

starting and wonk, good ideas. I'll ask my attorney how that goes and if permitted, get a day that works better. thanks.

[OhioFiler]

So then my attorney can file on the 13th or 14th when I'm down to $20 bucks in my checking account and that's the snapshot they will get?

When you file, do they want to see a screen shot of your bank balance for that day? How does that all work?

Essentially, this is true. In accounting terms you are submitting a balance sheet which is a mathematical formula:

Assets= Liabilities (debts) + Owner's Equity.

If you have $0 or negative Owners Equity OR the value of your exemptions is equal to or greater than the value of your assets on the date of filing you'll become a No Asset case.

A balance sheet is a picture of your life at one moment which can change in a matter of seconds. The court looks at your balance sheet as it is on the day you file.

[debtmonster]

So what do they do when they see $360,000+ of debt on my balance sheet with maybe $2000-3000 worth of equity in property? How does this affect me?

Each one of my cars is $6000 to $25000 upside down.

[OhioFiler]

So what do they do when they see $360,000+ of debt on my balance sheet with maybe $2000-3000 worth of equity in property? How does this affect me?

Each one of my cars is $6000 to $25000 upside down.

Your formula : $3,000= $360,000 + (-$357,000)

You have negative $357,000 Owners Equity.

Reads like no asset to me. How is a car $25,000 upside down?

[debtmonster]

Reads like no asset to me. How is a car $25,000 upside down?

When our payoff is about $37,000 and the auction price is maybe $22,000 to $25,000 if the bank repo's it and sells it.

We racked up a ton of miles in a short time... almost 30,000 miles in less than a year and a half.

KBB trade-in shows $24,800 in EXCELLENT condition.
Good is $23,500
Poor is $21,150.

The bank will probably auction it off close to $20,000. The car dealer will need to buy it cheap so they can make a good profit when trying to sell it.

$37,000 - $22,000 = $15000.

My other car I owe $12,000+ and it's maybe worth close to $5,000.

So it all depends on what the cars will go on the auction... which I am sure will be VERY low in this terrible economy.