Freaking out a little

[jlybean]

Hi I need some reassurance I am totally freaking out and I am sure this probably has been asked and answered so I am probably not searching for it right but I need help.
We are a family of 6 living on 1 income and are under the median but by the time we file (in 2-3 months depending on when we get our tax return and can pay off lawyer and some other things) we will be over 125K in unsecured debt. So that being said I am assuming the we will be more closely scrutinized so I am thinking I will have to provide extra documentation. I have read in other posts that is about 2 years of info. I have the credit card stuff the check stubs so that is ok but what if I can't get 2 years of bank statements? I used to bank with Wells Fargo and unfortunately they closed our checking account because of a negative balance and now of course I can't access it so what if I ask them for statements and they won't give them to me? I stupidly went to electronic statements to save paper (thought it was smart) never really thought I would need them. If I have proof I asked them for it is that enough?

I really just want this to be over. The stress of the waiting is driving me crazy and my husband has left it all pretty much up to me. I am a stay at home mom and in charge of the finances so I am sure he figures I got us into this so I need to get us out. I will take 85% of the blame for making some stupid decisions but he did too.

Thanks in advance for all your help. This forum has been a huge gift to me. I don't feel so alone and worthless.

[jribe]

you won't have any issues going into a wells fargo branch and getting your statement with a banker. They honestly don't care that you had an unpaid balance.

I would recommend calling ahead and letting them know you need 2 years worth of statements. It takes awhile to pull that many. And actually, you may find it easier just to call the 1-800 number and request them that way.. But no one will care that you had an unpaid balance. Seriously. I used to work at a bank.

Hi I need some reassurance I am totally freaking out and I am sure this probably has been asked and answered so I am probably not searching for it right but I need help.
We are a family of 6 living on 1 income and are under the median but by the time we file (in 2-3 months depending on when we get our tax return and can pay off lawyer and some other things) we will be over 125K in unsecured debt. So that being said I am assuming the we will be more closely scrutinized so I am thinking I will have to provide extra documentation. I have read in other posts that is about 2 years of info. I have the credit card stuff the check stubs so that is ok but what if I can't get 2 years of bank statements? I used to bank with Wells Fargo and unfortunately they closed our checking account because of a negative balance and now of course I can't access it so what if I ask them for statements and they won't give them to me? I stupidly went to electronic statements to save paper (thought it was smart) never really thought I would need them. If I have proof I asked them for it is that enough?

I really just want this to be over. The stress of the waiting is driving me crazy and my husband has left it all pretty much up to me. I am a stay at home mom and in charge of the finances so I am sure he figures I got us into this so I need to get us out. I will take 85% of the blame for making some stupid decisions but he did too.

Thanks in advance for all your help. This forum has been a huge gift to me. I don't feel so alone and worthless.

[JoeBankrupt33]

I also had a closed account with Wells Fargo. They were really easy to deal with and they sent me electronic copies of all the statements I needed.

[booboo]

Don't worry, when we filed we had $162K in unsecured debt, never were we asked for anything outside of what we needed to file and was not asked for more at our 341. The US Trustee did not get involved, nor were we selected for any kind of audit. I believe if your expenses are below the medium, assuming they are not out of the norm, you will be OK.

Hope this ray of light helps you

BooBoo

[jlybean]

Thanks to all of you for the responses. This has eased my mind a little. I am so worried that we are going to be that one "special" case that the trustee uses to make an example of (which I know is probably not the case) but I am just so anxious about it all. Also do I need to keep receipts for everything I buy for awhile? I have been keeping them but honestly we have not been buying anything other than groceries, gas and necessities which show up on our bank statement. I will keep them it is just alot of extra paper to keep track of

[booboo]

Sure, keeping receipts will not hurt. If needed, you will have them.

BooBoo

[JEM]

Thanks to all of you for the responses. This has eased my mind a little. I am so worried that we are going to be that one "special" case that the trustee uses to make an example of (which I know is probably not the case) but I am just so anxious about it all. Also do I need to keep receipts for everything I buy for awhile? I have been keeping them but honestly we have not been buying anything other than groceries, gas and necessities which show up on our bank statement. I will keep them it is just alot of extra paper to keep track of

We're around the $100K unsecured mark...and I've been keeping receipts *just in case*.

I have a bunch of envelopes labeled with things like "groceries", "auto repair/maintenance", "medical"...basically just divide it into what you spend your money on.....and throw the receipts in the envelopes.

Right now I just have a stack of "paperwork" on the bedroom floor. Each time my husband gets his current paystub, it gets paper clipped to the stack. I already pulled our tax refunds from the last 2 yrs, and this year's will get added after we file the tax return. Basically anything "financial", I add to the pile. At least it's all in one place--and saves me from having to look for it later.

I figure we may not need half of this stuff, but at least I'll be (somewhat) prepared, if we do.

[deepend]

I had to laugh a little about the neat piles on the bedroom floor; I know exactly how that is. I kept all invoices, receipts, statements and anything remotely financial in each month's folder and then in categories within each folder for utilities, car, groceries, childcare, etc. I have never been so organized but I felt like I needed to have everything where I could lay my hands on it at moments notice if any question ever came up.
I had over 100k in unsecured debt and never got a single question. I was ready, though. So much anxiety and worry - hang in there, it will all be behind you soon and you can sleep well again.

[mtbc]

We listed nearly $600k in unsecured debt and our trustee didn't ask us much, and filed a report of no distribution day after the 341 abandoning nearly $100k in listed assets. You might be the "unlucky" debtor, but trustees' time is precious enough, and enough other people are being abusive enough to the system, that they'll probably find someone much worse than you if they want to make an example! (-:

[frogger]

I am so worried that we are going to be that one "special" case that the trustee uses to make an example of

You're only going to be special if you attempt to hide assets or lie. As long as you're honest with everything, everything will go smooth.

As our trustee said in the 341 group discussion before individual cases were called, it you need to come clean about anything, today's the day. After today, if I find anything that is hidden, it's a new ball game. One that you'll lose.

[2manybills]

You will be fine. The trustee didn't ask us one question about our debt. You start to realize how unimportant your case really is. Good luck to you!

[jlybean]

Thanks everyone for the responses. I know I am just over analyzing everything. We have nothing to hide so I am not worried about that. Everything we have is over 10 years old and kid tested and abused so if they want it they would actually be doing me a favor by hauling some of it away LOL!
Seriously, I will just make sure I have everything I could possibly think I need (half of it I probably won't) and try to relax.

Thanks again to all of you I appreciate all the advice more than I can say

[mtbc]

kid tested and abused

Yeah, I was kind of hoping that they'd send an assessor to come around and look at our property so I could get a good chuckle out of their attempt to value our junk.

[jlybean]

Hi Just wanted to say thanks again and give a little update. Called Wells Fargo today and talked to very nice women who told me they can send my statements to me (of course I have to pay for them $2 per statement) not thrilled about paying but not complaining at least I will have everything I need all together. So then since I want to do the right thing if I can, I asked about trying to settle the negative balance that my account had so she transferred me to the charge off dept. The guy who answered must have had a ball of cotton in his mouth because I could hardly understand a word he said. So I asked him what the balance of the account was and he tells me so then I ask how much of that is bank fees $505! so I told him I would like to make an effort to pay but it would be a little every month and to be honest I won't pay the fees! He was such a jerk! He said I would offer you a settlement today but you probably can't come up with it anyway so he's right now they are getting nada!!!
Oh well I tried- at least I can get the statements!