341 Meetings

[kw1025]

I think that there is enough curiosity about 341 meetings to warrant this thread> i would be interested to know about evryones exact experiece at the 341. What happened, was it worse or bettre than expected, any insight whatsoever, from everyones point of view. I bet this thread will get HUGE replies..

[hopejones]

Our 341 was surprisingly a breeze (we were so afraid something would go wrong). There were probably about 200 people there who were filing that day. My husband & I were the 4th or 5th case to be called upon. The whole thing lasted about 5 minutes. We were sworn in and asked if we understood that we were filing Chap7. About the only thing the trustee asked us directly was if we had assets from our small business that we hadn't told our attorney about. We said no and the trustee told us good luck & that our case should be over in 60 days. The couple who went before my hubby & I were not as lucky. The trustee told them their case would be continued in order to determine the value of their industrial oven. They had a home-based bakery business. Apparently their attorney had not listed the oven as an asset & should've. The trustee told them the oven could have been worth tens of thousands of dollars.

[justplaintired]

Ours went fine. It was a little nerve racking I won't lie. She was tough (trustee) on some who were ahead of us, and the person she called ahead of us who's attorney wasn't in the room she seemed annoyed with that. That made me nervous even though our attorney was sitting right next to us. I heard her ask a guy ahead us who must be on his second BK why he was back! The other guy ahead of us got grilled over property he owned and his income. He worked for a realtor and seemed to be evasive, I wonder what happened to him.

When our turn came, Most questions were what I expected, she looked into our finances closely, I expected that. She found a mistake which I explained and she seemed fine with my explanation. I think we won her over when I knew the date we last had activity on our cards and when my dh said he was cut back once again on hours at his work. I think maybe she felt sorry for us!

Either way it was fine and today on Pacer it said we had a no distribution case and our 341 was yesterday! So I would say, be prepared, know what's going on, don't depend on your attorney, you will answer the questions, not him/her.

[liz417]

This is always a top question for "newbies", do a search and you'll see (almost) everyone's 341 was UNeventful. Don't work yourself up, stay here and read up on BK. By the time my 341 was near, I wasn't nervous at all because I knew what to expect

Good Luck!

[BkinTX]

The wait was long bc court was backed up, but the actual meeting was very quick and painless. No creditors showed up and we only had to answer the list of questions the lawyer had already given us. NBD.

[music12]

i started a thread on this same subject not too long ago, though it seems like it has been a lifetime.

i got there early, so did my atty. my case got called 20 minutes early. took 5 minutes. i gave the trustee my ss card and my driver's license. she asked if everything in the petition was true and if i read it before signing it. she asked my atty about exemptions - she thought he hadn't listed any! he told her he did, on schedule C. then she asked a few questions about a case that was pending - i think she was trying to assess how much of an asset that was. then she told us to wait until the official time just to see if creditors would be there. she called the case at that time and there were no creditors.

then i got out of there as fast as possible so that if any creditor showed up late (there was one i was worried about), i would not be there any more!

before my case was called, i got the impression that she was very picky on people, though i seriously couldn't concentrate on what she was asking them. i didn't feel she was picky on me at all...

there was a pro se person, showed up dressed totally unprofessionally. turned out he hadn't given the trustee his tax return or paystubs. she continued his hearing, but needed to explain to him at least 3 times that he needs to mail her the tax returns and paystubs before his next date.

another person that like me was called early actually had a creditor show up later! so they had to do the whole thing over again for the benefit of the creditor.

ok, the next day pacer showed the report of no distribution. that made me VERY happy!!

[daedalus]

Our 341 was on Tuesday, and it was more difficult than most of the stories I read, but our case is more complicated. The trustee asked if we had surrendered my car, but I told her we were considering a redemption. She asked what our mortgage payment is, and if it was current. She asked about our LLCs that hold real property and if those mortgages are current. She asked about a sale of my interest in some commercial property to a partner who was also a family member and made a point to mention that that property was in a "hot" development area. Lucky for us, we did get FMV for the property at the time. She asked about my consulting business and then asked what my educational background was. I was a little taken aback by that one. My atty said she wanted to determine if I had the right qualifications to offer my consulting services. Even though I am more than qualified, I have no idea why she'd need to know that, as my company is in the red.

My atty told me to expect her to ask about most of these things. I get the feeling that she looked at our assets on paper (especially the land transfer) and was hoping that she could get something out of us. Unfortunately, everything that we "own" is hopelessly encumbered, which is partially what brought us to see her in the first place.:-)

Anyway, I haven't checked PACER yet, but I wouldn't be surprised if we haven't heard the last from her.

[eddiep]

This is always a top question for "newbies", do a search and you'll see (almost) everyone's 341 was UNeventful. Don't work yourself up, stay here and read up on BK. By the time my 341 was near, I wasn't nervous at all because I knew what to expect

Good Luck!

But doesn't it seem like everybody mentions that somebody that went before them were grilled by the trustee? I guess thoes guys didn't find this forum.

[liz417]

But doesn't it seem like everybody mentions that somebody that went before them were grilled by the trustee? I guess thoes guys didn't find this forum.

Haha! Yes, actually it does seem that way There was "biker dude and wife" before us at our 341 and that didn't go so well....I really think it's about being prepared before your 341 and having a good attorney who is organized!