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How much work does trustee do prior to 341?

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    How much work does trustee do prior to 341?

    I know that most people say that getting to the 341 is the hardest part and that the meeting itself is not all that bad. Is this normally because the trustee hasn't had time to really look at all the paperwork for his cases? If one doesn't receive requests for strange documentation prior to the 341, and the 341 itself is relatively uneventful, what are the chances that something will come up in the 60 days after the meeting? For example, in my case, should I assume that if my house value isn't questioned at the 341 I *probably* won't need to worry about the trustee deciding after the fact that he wants someone to come out and value the house for a potential sale?

    I guess what I'm really asking is, how much work does the trustee really put into researching a case prior to the 341?

    Thanks.

    #2
    I'd love to hear answers on this one too.

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      #3
      Originally posted by lalap123 View Post
      I

      I guess what I'm really asking is, how much work does the trustee really put into researching a case prior to the 341?

      Thanks.
      My guess is if you are a no assets case and well below the median income...not much.

      Comment


        #4
        NOTHING happens prior to your 341. At most, the trustee reviews your case the day before.

        The trustee may, or may not, raise any issues at your 341 (they are not required too), so if you have an issue with valuation or exemptions, he has time to file that objection after the 341.

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          #5
          Here in Nevada, chapter 7 panel trustees get paid $60.00 for each no-asset chapter 7 bankruptcy case. They don't review much of it themselves, their staff members do.
          At 341 meetings I've had trustees reference something on page 8 of a bank statement from 2 months ago wanting to know what the $1,320 teller withdrawal was for. I've also had them ask my clients two questions: 1) why did you file bankruptcy [client lost his job]; and 2) how did you pay your bills during those 9 months of unemployment [client depleted savings] and that was it. Trustee even abandoned ~$800 of my client's non-exempt tax refund so the client could keep the whole thing instead of turning it into an asset case.

          -William
          I am an attorney, but I am just not your attorney.
          As such, any statement is not intended to create an attorney/client relationship.

          Comment

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