Discharge and 341??

[Amy26]

I think mine is also listed as an asset but at a loss... I don't have my petition here at work but if I remember correctly it lists my assets... being my checking accounts, my house and my car. It lists my house current market value as the "asset" price and then next to it, it lists my actual balance on the condo which is way more than what the asset is worth.

That is how you're a no asset case. An asset really isn't an asset if its not worth the paper its printed on.

[denisejohn65]

Well, I owe 77,000.00 on condo and it says it's worth is 96,000.00. I got a tax letter after that stating it was worth around 65,000.00 . They said that didn't even mater either. I don't get it???? Do you know anything about that. I'm letting it go too.

[Amy26]

Hmmm... my bankruptcy knowledge is exhausted at this point. I think it would be an issue if you were keeping the condo...because it would then say that you have 19k in equity in it. But if you're surrendering it.... hmm...

Do you know how the lawyer came up with that valuation? I think my lawyer used the tax assessed value for mine...but it was pretty comperable to the foreclosure/sales in my development.

All I know is that in 18 minutes, I get to go home and start my holiday weekend!! Are you doing anything fun? Need to get your mind off this!

[music12]

denise, if you hear nothing from your lawyer, then in the bk business, no news is good news.

if you want updates, ask your lawyer after the 341 to tell you when the trustee files something. explain that you know he has a zillion clients, but this makes you nervous (he probably knows that already) so you would really appreciate it.

also, please notice how you were picked for that audit and everything went fine. so if something comes up, you'll deal with it. you certainly can't deal now with something that hasn't even happened and may never happen!

[music12]

oh, happy weekend amy!

[Amy26]

Thank you Music! You too!

Hubby and I made a nice dinner and are now relaxing at our computers with some beers!

Cheers!

[music12]

huh? relaxing at your computers?

so visiting these forums is now relaxation, is it?

actually, i would take the fifth on that because it helps me relax too! no beer for me, though - bkforums is all i need

[Amy26]

Hehe no... we're both computer geeks... we're actually playing a game together...but I'm checking the forum every now and then... I'm addict...terrible.

[denisejohn65]

I decided that I'm worrying about things I don't even understand.I suppose my lawyer would not take my case if he thought I would have tons of issues with it.There are a few things.... job loss and alimony calculations but he said we will first go to the 341 and do that.Then see if it needs amended. I don't know how I could be put into a 13 when I have no income now to even pay for any of those bills since I'm not working.Just the alimony which is going to stop Sept 21 2010 and my retirement will go away when I remarry.I don't know you all....I'm to the point that whatever happens happens and I may have trouble and I may not.I'm sure if there are any other problems like you all said the lawyer will let me know,right? I'm sure there will be additional lawyer fees and I'm not sure I'd be able to pay them or not either.I thought that after your 341 if the tt needs anything from you...you are to do the work.....is that correct? I just have to say frig it......and if I get dimissed or something.....well.....I don't know.....

[Amy26]

Yes, you are correct. Just take things as they come... the lawyer will know how to handle it. Most of the things that come up should be included in your fee. There could be some additional fees for special circumstances but chances are you will be just fine. As I said before, only worry about things you can control. You can't control anything right now and just need to sit back and see what happens. We're all going through this process too...so its not just you.

Happy 4th!

[LuciluS]

Denise:

I researched for an hour trying to find if alimony is taxable and one website said it is NOT. Most of the websites said your Retirement is not Taxable.

You do NOT have anything to worry about. That's why you pay your Attorney and the Trustee will know at your 341 the only income you are receiving is $1,647 a month. I honestly can say NO Way on a 13.

I think you were just the unlucky person who was picked for the random audit. You know they've received the paperwork. You need to relax and quit worrying about your 341. There are some major changes to be told to the Trustee (i.e. no wages).

I received less than $1,647 a month for disability and I know in AR (poorer state than CO), there is NO way I could live off of that. Praise The Lord, I have a husband who can work.

I think your 341 will be a tad bit longer than the norm because of your changes; However, I feel like it will be smooth and hope the Trustee will tell you at that time No Asset Case. He may or he may wait and file it later.

It's a Holiday Weekend. Relax and enjoy with your child and your boyfriend,

Hugs,

Luci

PS Amy is right..take it one day at a time. Me being disabled, I live by those words LOL!

[denisejohn65]

I claim the alimony on my taxes...but receive no 1099 for it... or nothing. I just put it on there.I do get a 1099R for my retirement and it says taxable amount.... .I don't know what you are saying about that or what that means in my case. Once I marry again the retirement will stop.Like I said the alimony is gone in Sept or Oct 2010.What are you telling me about these amounts? I'm ready to freaking quit worrying...cuz I don't know what will happen...I was thinking they will take the money away???

[music12]

don't think about it and don't worry about it. what will happen will happen. your lawyer will deal with it together with you when and if anything happens.

que sera sera.