Nerves!!!!

[leena]

My 341 is not until October 13th but I had a big thing I was worried about the past few days and tormented the attorneys office with it starting yesterday until I got an answer finally this morning. I was afraid they had left out that I have a flex spending deduction from my check of about $33.00 a pay period and that is why they had made my medical expense a hundred bucks a month. Turned out that was not the case, and they did have the flex spending properly recorded and did an amount they thought will fly with the trustee and all is well...

I am a pretty straight forward case, below median, no assets, medium debt load (not the kind that will interest the US trustee, in all likelyhood). My expenses are pretty much in line with reality and with the federal standards, some are lower and some are higher but nothing there to raise big eyebrows my attorney'e office assures me.

SO, why am I so freakin' nervous?? Not to mention so downright obsessed with this process?? H-e-double toothpick, even if they had double counted the medical thing, I would STILL not be running into abusive disposable income because I would be under 10,000 over five years and also under 25% of the debt I am trying to discharge! The good thing about being obsessed is you do your research!

So, why oh why am I a basket case. My mom was completely right today when she said I just really needed to calm down and I have no problem here whatsoever. I know that, so this weekend I am going to do my best to do exactly that and think about any and everything BUT the BK.

My mom and a friend too independently suggested that maybe I just have guilt about this that is feeding my anxiety. Which considering that most of my creditors already got somewhere between 40-70% of what I genuinely owed them (the rest is interest and charges) is actually pretty misplaced. Then, there was all that money some of them made on selling the debts and using them for a tax credit besides!

Funny how they win and we lose in ways even when we file BK!

Anyway, I am off to try to calm down to something like normal.

[MSbklawyer]

Have your MD give you some Xanax if you can't cope. But seriously, most 341s are a walk in the park.

The worst part about them is that DNA test blood draw the trustee does. Make sure he uses a new needle. Sometimes they'll try to save a few cents and re-use one. And be sure and bring all your underwear, preferably in a paper bag. You're only allowed to exempt one pair. Same with socks.








I'm kidding of course.

[ForumReader]

have your md give you some xanax if you can't cope. But seriously, most 341s are a walk in the park.

The worst part about them is that dna test blood draw the trustee does. Make sure he uses a new needle. And be sure and bring all your underwear, preferably in a paper bag. You're only allowed to exempt one pair. Same with socks.

:d :d

[ForumReader]

Have your MD give you some Xanax if you can't cope. But seriously, most 341s are a walk in the park.

The worst part about them is that DNA test blood draw the trustee does. Make sure he uses a new needle. And be sure and bring all your underwear, preferably in a paper bag. You're only allowed to exempt one pair. Same with socks.

(sure hope these grinning faces show up!)

[backtoschool]

Don't worry Leena, everyone is nervous before their 341. No matter how straight forward a case a person has, no one has control at their 341, the trustee is in control and determines our fate, and that is scary.

I don't think that anyone is going to be able to tell you anything that will completely calm you down, but the anxiety will come and go. Life will intervene in intervals before your 341 and there will be times where you will be too busy and/or too involved in other activities to think about your 341.

What always helps me is thinking about the worst case scenario. Then I feel like I have some control of the situation. What is the worst case scenario? You qualify for a bankruptcy and you are not lying, so the worst case scenario is not going to be any big deal.

If you look at all the cases that get dismissed or endlessly continued and extended, they are cases of over the median income and debatable special circumstances and expenses. (debatable to the trustee I mean) That is not your situation.

It's too soon for you to freak out. Save your freak out pass for the night before your 341.

[leena]

DNA/Socks/Underwear

Have your MD give you some Xanax if you can't cope. But seriously, most 341s are a walk in the park.

The worst part about them is that DNA test blood draw the trustee does. Make sure he uses a new needle. Sometimes they'll try to save a few cents and re-use one. And be sure and bring all your underwear, preferably in a paper bag. You're only allowed to exempt one pair. Same with socks.








I'm kidding of course.

No, see you are confusing the trustee with the debt collectors

[leena]

Doing Better

Don't worry Leena, everyone is nervous before their 341. No matter how straight forward a case a person has, no one has control at their 341, the trustee is in control and determines our fate, and that is scary.

I don't think that anyone is going to be able to tell you anything that will completely calm you down, but the anxiety will come and go. Life will intervene in intervals before your 341 and there will be times where you will be too busy and/or too involved in other activities to think about your 341.

What always helps me is thinking about the worst case scenario. Then I feel like I have some control of the situation. What is the worst case scenario? You qualify for a bankruptcy and you are not lying, so the worst case scenario is not going to be any big deal.

If you look at all the cases that get dismissed or endlessly continued and extended, they are cases of over the median income and debatable special circumstances and expenses. (debatable to the trustee I mean) That is not your situation.

It's too soon for you to freak out. Save your freak out pass for the night before your 341.

You are defintely right about the majority of the big mess cases fitting into that catagory! We see them here all the time. A friend of mine just two years ago filed, and she was self employed, over median, and $106,000.00 in debt to unsecured creditors. It took her a full nine months of stuff to get her discharge, but she finally got her 7. She calls my situation my "cute little bankruptcy" and assures me we have nothing in common situation wise.

I am calming down. No offense to our BK Attorney friends here, but even having to talk to the people at that office riles me up it seems. No more need now until the 341! I am reminding myslef that life is essentially good.

[doingpoorly]

I worried....so much that my dh didn't worry one bit, he said I did enough for the both of us. I think that , for me, the stress and anxiety stemmed for a loss of control. Not that I am a control freak, but I don't like unpredictable things. I don't gamble, way to unpredictable. My investments are ultra conservative as I don't like the roller coaster that wall street can be. Even when I was pregnant with my children I "needed" to get the ultrasound done so that I could plan for the baby. No gender neutral things for me. LOL
When it came to bills, they were predictable. I knew what the bill would be before I got it, I would pay it and the company would be happy. Everything was predictable. With bankruptcy, nothing is predictable, noting is guaranteed. Even the laws are interpreted differently in different districts. Totally not predicable. This is where my anxiety really got to me. I wasn't in control and there wasn't a rule book that was used by everyone in the game, I couldn't be sure that if I did something that it was going to be interpreted the same way by someone else.
Now that my 341 is over and the TT has entered a report of no distribution I fell tons and tons better. A little bit more in control of things again.
I know that nothing that I could say will make you feel any better, but I do think that the best way to deal with this is to educate yourself and prepare yourself for anything that you can think of that may crop up in your case.
I wish you the best, hang in there, there is an end to this.

[HakunaMatata]

Leena-

I have a "cute little bankruptcy" as well (love the phrase!). I actually think this has caused extra stress for me. If I had loads and loads of debt, filing for BK may be easier to digest.

I spent countless hours trying to figure out how I could pay my debt and rid myself of my number one issue - my money pit house. I've talked to attorneys, CPAs, and mortgage bankers. The consensus is to move forward with BK.

I, too, struggled with the guilt of not paying back my debt. I've continued to remind myself that morality and money don't mix. One of my credit cards kindly reminded me of this today. The majority of my debt has been at 0% interest and I missed my first credit card payment EVER this month. I received a statement (less than two weeks past due) with a fat late fee and a skyrocketed interest rate. My creditors clearly don't care about me. Why should I invest emotion into them?

Trust your experienced friend and your attorney! BK standards aren't going to adjust overnight simply because your 341 is approaching. Hang in there...and be sure to do something nice for yourself...you deserve it!

[aljohnson007]

When you are finished with you 5 min 341, you will say, "what the h@@ was I worried about all this time?? You will be just fine and best wishes.

[MSbklawyer]

The first real case I ever filed was a chapter 13 for a friend of mine the day after I passed the bar exam. This guy was so cheap, that rather than pay a lawyer, he waited for 2 1/2 years for me to get out of law school to do a 13 for him because he knew I wouldn't charge him.

I had absolutely no idea what I was doing. This was before there was an internet or PACER and the only information I had to go on was some chapter 13 filings I had pulled at the clerk's office.

I went to the 341 loaded for bear. I had my rules of bankruptcy procedure book, my rules of evidence book, my little cheat sheet of "trial objections". As luck would have it, my guy was the first one called at 9AM that morning and I didn't have an opportunity to watch any other lawyers do theirs. So the first 341 I ever saw, I lawyered at. I was so nervous I was trembling and felt faint. When the trustee asked my client if he had given his attorney the information to complete the schedules, I objected (nice, loud and forcefully) and asserted attorney-client privilege. Some of the lawyers in the room giggled. The trustee was very nice and explained to me that he wasn't going to inquire into the substance of our conversations, but only wanted to know whether the client (as opposed to someone else) had provided the information. So I hesitatingly withdrew my objection and advised the trustee that I would "allow him to proceed". More lawyers giggled. The trustee just shook his head.

It lasted only about 3 minutes, but when it was over, I was soaked with sweat and felt like I had run 5 miles. The trustee then asked me if this was my first one? I told him yes, and he told me that I had done fine.

So even tho I might rag on people who are nervous about their 341, I know what you're going through.

[backtoschool]

The first real case I ever filed was a chapter 13 for a friend of mine the day after I passed the bar exam. This guy was so cheap, that rather than pay a lawyer, he waited for 2 1/2 years for me to get out of law school to do a 13 for him because he knew I wouldn't charge him.

I had absolutely no idea what I was doing. This was before there was an internet or PACER and the only information I had to go on was some chapter 13 filings I had pulled at the clerk's office.

I went to the 341 loaded for bear. I had my rules of bankruptcy procedure book, my rules of evidence book, my little cheat sheet of "trial objections". As luck would have it, my guy was the first one called at 9AM that morning and I didn't have an opportunity to watch any other lawyers do theirs. So the first 341 I ever saw, I lawyered at. I was so nervous I was trembling and felt faint. When the trustee asked my client if he had given his attorney the information to complete the schedules, I objected (nice, loud and forcefully) and asserted attorney-client privilege. Some of the lawyers in the room giggled. The trustee was very nice and explained to me that he wasn't going to inquire into the substance of our conversations, but only wanted to know whether the client (as opposed to someone else) had provided the information. So I hesitatingly withdrew my objection and advised the trustee that I would "allow him to proceed". More lawyers giggled. The trustee just shook his head.

It lasted only about 3 minutes, but when it was over, I was soaked with sweat and felt like I had run 5 miles. The trustee then asked me if this was my first one? I told him yes, and he told me that I had done fine.

So even tho I might rag on people who are nervous about their 341, I know what you're going through.

What a great story!!!! I actually laughed out loud when I read it.

I want to quickly add another quick thought. Even if the trustee grills you like mine did, if you are prepared you will be fine. So in the worse case scenario that you have a tough trustee (which is very unlikely) you will get through your 341 just fine by coming to the meeting prepared for the worst.

As long as you are prepared, you are pretty much guaranteed to have a concluded 341. If I got through mine, you will get through yours.

[justplaintired]

What a great story!!!! I actually laughed out loud when I read it.

I want to quickly add another quick thought. Even if the trustee grills you like mine did, if you are prepared you will be fine. So in the worse case scenario that you have a tough trustee (which is very unlikely) you will get through your 341 just fine by coming to the meeting prepared for the worst.

As long as you are prepared, you are pretty much guaranteed to have a concluded 341. If I got through mine, you will get through yours.

I chuckled too! Great story! I never really thought about it, but it must be nerve racking for a lawyer his first time doing a 341. Just as nerve racking as it for us cleints having our first 341.

It really isn't that bad at all. They ask questions, you answer and that's about it. No hard questions. Our trustee seemed to be a little more thorough then some I have read on here, but honestly it was fine. Don't worry sounds like your case isn't an attention grabber and I am sure you will be fine. I worried myself over ours, not too much though, after reading so much about 341 on here, I think I was a little more relaxed. So read about a normal 341 and you will find that most go very smoothly. Good luck w/ your bk!

[ForumReader]

Me too about MSbklawyer's post! Yes, if one is well prepared for his/her own 341, it should be fine. While I waited for mine to be called, I was listening to some of the cases and for each case, the trustee would ask standard questions, but in the end the trustee would throw off a question specifically related to the case of the petitioner. I had to think of what specific questions he would ask me after asking standard questions and I remember feeling sweated out. The main thing is to be open and honest when answering the questions and it should be fine.

To the OP, best wishes to your 341, it will be fine. Like BTS posted earlier, save your most jitters to the night before. It is a natural feeling to be very anxious the night before. For me I hardly had any sleep so my suggestion is to try to relax as much as you can the night before

[leena]

I loved BK lawyer's story too, thanks

Well, it would be impossible for me to be as prepaired as some of you have been because I just do not have receipts for all my expenses for one thing. However, I have been thinking of answers to possible questions. I will of course make sure I have my W2 (alternative proof of SSN, I have not had my card in years!), my license, my bank statements covering the date of filing, and of course my most recent pay stub all as instructed by the attorneys office. The attorney's office did say pretty clearly that if they thought I needed any other documentation, they would let me know and they saw no need.

So I figure, what is the worst that can happen? A question and answer drill? Ok, I can handle that. A continuence for more documentation? Ok, I can probably handle that. A Chapter 13 conversion? It would truly stink, but I know it is highly unlikely and we would not die of it. I even found out by researching that as a below median filer, they could only put me in a three year plan. That would even be the case when I get married next April because I would have been under median at the time of confirmation on a 13.

However, I am not only under median and passing all phases of the disposible income tests right now, but I am in a student loan friendly district and looking at a $617.00 student loan payment due next March! If my current situation did not completely seal the deal, in this district anyway that student loan payment likely would (though BK law at present seems to have a hard time deciding if it is about past, present, or near future. If it were ALL about a six month look back, you would not have a question about changes in the next year *or* a standard 341 question about anything changing since the date of filing).

My guess is that even I meet up with a tough trustee, it will all be ok in the end.

I must say that this process stinks! Wait a month, wait two more months, hope you are not continued, blah, blah, blah... Here is hoping for the 5 minute 341 people keep talking about!