Please help me with my story

[LSUTiger32]

Maybe I've lost my one os 2 marbles left & that possibly could be that way today, as I couldn't sleep & ended up taking extra meds & now I'm a tad bit woozy.

BUT you stated it needed a lot of repair work to pass Inspection. Unless these people who want to buy this house are paying cash, seems as though You (LSU) are going to pay for the repair work to pass inspection. Am I on the right track?

If so, get the repairs done After your 341 meeting & not accept an offer on the home until that time. If all the plumbing needs repair..those repairs will take awhile. Call and get an estimated date of finished work if they start repairing this home after 341 hearing.

I'm sure obtaining a mortgage is not as easy as it used to be, due to the economy. I can recall when we decided to move closer to Central AR, I called our mortgage co. we've always used & was shocked. I was approved for a $250,000 home without ANY paperwork...no W2's, tax returns, nothing....because of my great credit score. Well we made a contigent offer based on sellin our home & they accepted it. 10 days later, couple receives a full cash price offer. Sorry, we had 72 hrs. to decide to remove the contigency or void the contract. O btw was told we had to close in 15 days. Hehe, both real estate agents didn't think it was possible. Hmmm, we closed in 10 days LOL!

Sooo, back to your 341, if the couple who wants to purchase the home will hold off making an offer until after your 341 & based on home passing inspection. Gee Whilikers, I don't see where there is a problem as you stated you were not making a profit on the home after repairs & closing costs right?

Just my opinion on the situation. If i'm wrong, please feel free to correct me.

Luci

Yeah I am thinking that there is no way we can move forward with closing until after the 341, but even so doesn't the TT still work the case after that? Or once the 341 is done they have done all of their work and the 60 days is just for creditors to object?

[LuciluS]

Well, ya see, that varies from District/State from what I've read on this forum. But they cannot touch your bank account, or adjust your income after the 341, so I don't see where it would make a difference.

To be on the safe side, I would try to make the closing After you are Discharged Preferrably After Closing. But Dang, with so many people filing Bankruptcies, closing dates are being pushed, further & further out.

I would seek the advice of your Attorney. He works for you & what you tell him is supposed to be Confidential. I think he will be the only one who can give you a Straight Yes Or No Answer. All we can do is speculate, Unless there is someone on this forum in your District/State & had the same experience & INMHO you will not find such person on this forum.

Call you Attorney. Remember he's on your side...Trustee is not, he wants moolah! LOL!

Good Luck!

Luci

[backtoschool]

I figured selling the property to a family member would be a red flag but my lawyer said that as long as I sell it for at least 2/3rds of its value that I would be fine. It's funny how everything is seeming to turn around now that I filed. I couldn't catch a break on this house for two years and it sells two days after I file. Only me!

I know I have to smile ironically at the timing of these buyers, lol.

You only have a month until your 341. Can you stall them by insisting that the house be inspected again, blah blah blah. It seems that you could run a couple of inspectors through there and it would be a month before they made you an offer. Or say, just to be fair to them you want them to have the house inspected by two inspectors, etc. It will take at least a couple of weeks for them to get a mortgage approved anyway.

I think involving your brother will delay your bankruptcy case and keep it open while the trustee gives you a close examination.

Stalling through setting up extra meetings and inspections and hoops should get you past your 341.

[LSUTiger32]

I know I have to smile ironically at the timing of these buyers, lol.

You only have a month until your 341. Can you stall them by insisting that the house be inspected again, blah blah blah. It seems that you could run a couple of inspectors through there and it would be a month before they made you an offer. Or say, just to be fair to them you want them to have the house inspected by two inspectors, etc. It will take at least a couple of weeks for them to get a mortgage approved anyway.

I think involving your brother will delay your bankruptcy case and keep it open while the trustee gives you a close examination.

Stalling through setting up extra meetings and inspections and hoops should get you past your 341.

Yeah I told them that I would not probably be able to close until late September. So once the 341 is over, most of the scrutiny has been done? Realize here that I am NOT really getting any of this money and we aren't making anything. I've spent more than we will ever get back which is one of the reasons I had to file. Again I kept it because I didn't want to jeopardize my relationship with the bank that holds my primary residence mortgage (they are a local bank so they hold the paper). Believe me if it just meant me losing like $10,000 of my money I would gladly give it to my creditors for what this is going to do for us. I am planning on calling my attorney Monday and setting up a meeting with her before the 341 so we can decide how we are going to proceed.

Thanks so much everyone, please keep the thoughts and ideas coming!!

[LSUTiger32]

I got my letter showing my 341 date today. It also says that the last day for objections is 11/23/09.

[backtoschool]

Yeah I told them that I would not probably be able to close until late September. So once the 341 is over, most of the scrutiny has been done? Realize here that I am NOT really getting any of this money and we aren't making anything. I've spent more than we will ever get back which is one of the reasons I had to file. Again I kept it because I didn't want to jeopardize my relationship with the bank that holds my primary residence mortgage (they are a local bank so they hold the paper). Believe me if it just meant me losing like $10,000 of my money I would gladly give it to my creditors for what this is going to do for us. I am planning on calling my attorney Monday and setting up a meeting with her before the 341 so we can decide how we are going to proceed.

Thanks so much everyone, please keep the thoughts and ideas coming!!

For most people most of the scrutiny is done right after the 341.

Any money that changes hands this close to your 341 could put you into a closer examination. I think with extra inspections, etc, you can hold off any money changing hands until after your 341.

[LSUTiger32]

For most people most of the scrutiny is done right after the 341.

Any money that changes hands this close to your 341 could put you into a closer examination. I think with extra inspections, etc, you can hold off any money changing hands until after your 341.

Yeah I am thinking that I might get a BPO or even an appraisal done for the house in its current condition that way I can prove that its not worth as much right now. Would that help me as far as selling to my brother if I can show that it is really only worth what I am selling it for.

[backtoschool]

Yeah I am thinking that I might get a BPO or even an appraisal done for the house in its current condition that way I can prove that its not worth as much right now. Would that help me as far as selling to my brother if I can show that it is really only worth what I am selling it for.

Yes that will help a lot. If you sell it to him for the appraised value and not a penny under, you won't raise a red flag.

[LSUTiger32]

Quick update on a few things:

1. The buyers backed out. Not a bad thing I don't think since I would rather wait until after things settle down.

2. Got a letter from the trustee. It was sent by my lawyer and they sent a letter with it. He is requesting things I already gave to my lawyer plus a few other little things. The letter has his phone number and e-mail address. Do I contact him myself? I feel like I shouldn't say anything to him!

[LuciluS]

Quick update on a few things:

1. The buyers backed out. Not a bad thing I don't think since I would rather wait until after things settle down.

2. Got a letter from the trustee. It was sent by my lawyer and they sent a letter with it. He is requesting things I already gave to my lawyer plus a few other little things. The letter has his phone number and e-mail address. Do I contact him myself? I feel like I shouldn't say anything to him!

1. Well it wasn't meant to be.

2. If it were me, I wouldn't 'ruffle the feathers' of the Trustee Yet! But, I would be calling your lawyer. Go over line item by line item 'do you have this document.' Check them off as you go. Note the date, time of conversation.

3. I don't believe you set up a Pacer Account? and if you didn't that's okay. Is there a final date for docs to be received by Trustee? If so, I would call the Attorney about 3-5 business days before that date & again go line item by line item asking if Lawyer sent everything. If no date, then I would give Attorney no later than 2 weeks, as you've already stated he has the docs. and call him/her & make sure ALL docs were sent.

4. If you don't feel comfortable your Lawyer sent everything, you can always call the Clerk of your specific Bankruptcy Court, give him/her your case # & ask him/her if all the docs Trustee requested have been noted as received.

Just my thoughts.

Luci

[lrprn]

Got a letter from the trustee. It was sent by my lawyer and they sent a letter with it. He is requesting things I already gave to my lawyer plus a few other little things. The letter has his phone number and e-mail address. Do I contact him myself? I feel like I shouldn't say anything to him!

If you have a lawyer, most trustees won't accept direct communication from filers. There are exceptions (like your lawyer has gone AWOL ) but for the most part, all communications to the trustee should go through your own lawyer.

If you already gave most of what the trustee is requesting to your lawyer, then you need to ask your own lawyer what he/she did with it and why the trustee is requesting it if you've already provided it.

[LSUTiger32]

1. Well it wasn't meant to be.

That is what I said.

2. If it were me, I wouldn't 'ruffle the feathers' of the Trustee Yet! But, I would be calling your lawyer. Go over line item by line item 'do you have this document.' Check them off as you go. Note the date, time of conversation.

I found it kind of odd. My attorney told me this would be coming and she sent a letter that says to provide him the information within 7 days of my 341.

3. I don't believe you set up a Pacer Account? and if you didn't that's okay. Is there a final date for docs to be received by Trustee? If so, I would call the Attorney about 3-5 business days before that date & again go line item by line item asking if Lawyer sent everything. If no date, then I would give Attorney no later than 2 weeks, as you've already stated he has the docs. and call him/her & make sure ALL docs were sent.

I do have a PACER account.

4. If you don't feel comfortable your Lawyer sent everything, you can always call the Clerk of your specific Bankruptcy Court, give him/her your case # & ask him/her if all the docs Trustee requested have been noted as received.

Good idea.

[LSUTiger32]

If you have a lawyer, most trustees won't accept direct communication from filers. There are exceptions (like your lawyer has gone AWOL ) but for the most part, all communications to the trustee should go through your own lawyer.

If you already gave most of what the trustee is requesting to your lawyer, then you need to ask your own lawyer what he/she did with it and why the trustee is requesting it if you've already provided it.

It is strange but it is obviously normal for this area. I have his address, phone number and e-mail and my lawyer told me to be expecting this. I guess I will just check with my lawyer in the morning to be sure. Most of it is stuff that my lawyer told me he will ask for and that I already provided to my lawyer. She said that there would maybe be one or two things that I would need to do. The only thing I can see would be the bank statement from when my last one ended to the date of filing.

[LuciluS]

It is strange but it is obviously normal for this area. I have his address, phone number and e-mail and my lawyer told me to be expecting this. I guess I will just check with my lawyer in the morning to be sure. Most of it is stuff that my lawyer told me he will ask for and that I already provided to my lawyer. She said that there would maybe be one or two things that I would need to do. The only thing I can see would be the bank statement from when my last one ended to the date of filing.

I think basically what lprn said was true. However, I'm reading lots of posts where people in BK are able to contact the Clerk of the Trustee and get an answer. Gee, it's kinna like the old saying - 'You don't know until you try it'.

IMHO, I believe Trustees are aware of more 'fly by night' Attornies who are not completing the Bankruptcy process papers correctly or omiting them, etc. I call them 'Newbies' but there are also the normal age Attornies and the ole codger Attornies doing the same thing. Please don't take offense to my choice of words..I'm trying to relax the OP

LSU, I'm really shocked your Attorney did not request a 'Snapshot' of your Bank Account on the date of filing. I know we talked about this in great detail before you filed with me explaining all checks needed to clear checking account or those monies would need to be shown as an Asset.

Now, don't go overboard on Pacer as to look at a document is $.08. Read the Stickie about Pacer. I know there's been quite a few detailed instructions on how to easily find info for the best value. I think I saved one of them; however, my Bankruptcy favorite List is quite Large! Will try to find it tho,

Luci

[LSUTiger32]

That's what makes me think it's normal. My attorney has been doing it out of the same office for 22 years. She is one of the biggest BK atty's in the New Orleans area so I know it's normal and legit.

I did take the snapshots of the accounts so I have that. I guess that is one of the things they are looking for. I was just cautious on sending it to him directly even though they told me to expect this.