341 Today

[Newstart10]

It went well. I was questioned for about 5 minutes but nothing i wasn't prepared for. It wasn't just the standard 6 questions and you are gone like some others have had. He delved into things a little bit about how I accumulated so much credit card debt. He was fair and it could have been a lot worse but it wasn't a breeze by any stretch.

The trustee just excuses you if there are no creditors present. In my case there wasn't any and in the other one's I watched there weren't any.

Before the 341 I was classified as a no asset without presumption of abuse. How long should it be before i have any further information posted by the trustee on pacer.

[JEM]

It went well. I was questioned for about 5 minutes but nothing i wasn't prepared for. It wasn't just the standard 6 questions and you are gone like some others have had. He delved into things a little bit about how I accumulated so much credit card debt. He was fair and it could have been a lot worse but it wasn't a breeze by any stretch.

The trustee just excuses you if there are no creditors present. In my case there wasn't any and in the other one's I watched there weren't any.

Before the 341 I was classified as a no asset without presumption of abuse. How long should it be before i have any further information posted by the trustee on pacer.

If you don't mind me asking, how did you answer? And how much CC debt did you have?

Glad it seemed to go well.

[Newstart10]

About 90k in cc debt and 32k with one credit card company over 3 accounts. I said that it was accumulated over a period of years. He asked me if it was mostly for vacations, extravagant purchases and furniture. I said no. It was an accumulation of a lot of things over a 5 year period.

[JEM]

About 90k in cc debt and 32k with one credit card company over 3 accounts. I said that it was accumulated over a period of years. He asked me if it was mostly for vacations, extravagant purchases and furniture. I said no. It was an accumulation of a lot of things over a 5 year period.

Thanks for answering!

We have pretty close to that amount of unsecured too. It might be a little higher by the time all the "collection" fees are added.

I don't think either of us have that much with a single creditor--but it could be close with Citi. Though, like you, it's spread over multiple cards.

And like you, ours wasn't vacations or fancy "stuff", just stupid decisions, some overspending, some bad luck and some emergencies all thrown in together.

[LimpDisc]

And like you, ours wasn't vacations or fancy "stuff", just stupid decisions, some overspending, some bad luck and some emergencies all thrown in together.

We pretty much have the same story with our 58k debt. We had some bigger car issues, painted the house, new hardword floor & carpet and some other items a little more costly. The majority of the debt we just can't explain. It's kind of sad really. It's not like we have highend stuff.

Glad to hear the original posters 341 went well. Thanks for sharing your story.

[JEM]

We pretty much have the same story with our 58k debt. We had some bigger car issues, painted the house, new hardword floor & carpet and some other items a little more costly. The majority of the debt we just can't explain. It's kind of sad really. It's not like we have highend stuff.

Glad to hear the original posters 341 went well. Thanks for sharing your story.

That's how I feel. Like I can't even explain most of it.

Our furniture is not new. We did buy a new mattress set for me and my husband. And we got my daughter a new bed and mattress, but that accounts for around $2000.

When we moved into our house we probably had a few more expenses that we didn't realize we would have. All the things you don't think about when you move into your first home.

We've also had some pricey car repairs in the last year. That's why we decided to get a more reliable car BEFORE filing. Plus a FEW deductibles (and I had it set at $500)--an animal jumped out in front of us and did some big damage and killed the AC in my van. We had someone "hit and run" in a parking lot and we had to get that fixed. That stuff fell under the "bad luck".

I had some expensive (necessary) dental work. A few thousand $$.

But A LOT of it can't even be explained.

[ForumReader]

That's how I feel. Like I can't even explain most of it.

Our furniture is not new. We did buy a new mattress set for me and my husband. And we got my daughter a new bed and mattress, but that accounts for around $2000.

When we moved into our house we probably had a few more expenses that we didn't realize we would have. All the things you don't think about when you move into your first home.

We've also had some pricey car repairs in the last year. That's why we decided to get a more reliable car BEFORE filing. Plus a FEW deductibles (and I had it set at $500)--an animal jumped out in front of us and did some big damage and killed the AC in my van. We had someone "hit and run" in a parking lot and we had to get that fixed. That stuff fell under the "bad luck".

I had some expensive (necessary) dental work. A few thousand $$.

But A LOT of it can't even be explained.

Sorry that happened to you about the hit and run. I recently had a hit and run to my mini van that was just paid off and the unknown motorist fled the scene with out even checking to see if everybody was ok I have started to build funds to get the van fixed. Oh well. "Sheet" happens, does it? As far as credit debt goes, it is amazing how much of a huge difference it is with using cash and not using credit cards anymore.

[Newstart10]

I have had similiar experiences as both of you. My car must have cost me almost 10k for repairs in the last year and a half but i am sticking with it because i own it outright and I feel like I am past the point of no return.

Now the littlest expense like getting contacts is something I have to wait till I have the available cash. In the past it was just charge it.

This experience will help us put a better foundation together for our financial future.

[Newstart10]

ForumReader,

After your 341 did you get a notice of no distribution or anything that told you that you were in the clear?

[bkresearch]

You should get an update on Pacer by two days after your 341 saying your 341 was held. If you are lucky you will get a report of No Distribution on your docket at that time and be marked no asset. If not, you'll get an interim report notation on your docket and you'll have longer to wait for the next update on Pacer. It might be that they'll want your tax return and turn you into an asset case. Did your trustee mention anything about taking your tax return?

[ForumReader]

ForumReader,

After your 341 did you get a notice of no distribution or anything that told you that you were in the clear?

Yes, Pacer showed a report of no distribution a day after my 341.

[Newstart10]

BKResearch,

I watched 3 or 4 cases before me and the trustee gave the person back their 2008 tax return. With my case he never mentioned my tax return so i don't know if that is something to be worried about. My lawyer said they sent my tax return to the trustee so he should have had it. However he never mentioned anything about 2009 taxes.