I had my 341 yesterday. I filed Chapter 7 on 10/7, the 341 was 12/7 the deadline for filing an objection to discharge is 2/7/11. So I am half way thru the process.
The 341 was fairly simple and straight forward. I was asked to present a photo ID and SS card. I was asked to verify under oath that the filing documents were correct. The trustee and my attorney discussed my income figures (I am self employed and the gross income was high as it was all business income) but resolved that issue. The only other issue was an old tractor that I own. It is definitely not a restored parade tractor, it is 62 years old and is worth more in scrap than I could get selling it as a tractor. I had to email a photo of it to prove it. My attorney said that should settle the matter. No creditors were there for either myself, the three cases before me or the two or three that followed mine. I breifly spoke to the trustee before my hearing. He said he would hold 34 meetings that day, so I guess business is good (or bad depending on which side of the table you were sitting)
I would like to say - I don't post much and only occassionaly lurk here. Much of what I would have to say has already been said. But I do appreciate the fact that this forum and you members are here. Not that I would wish our situations on anybody, but it is good to know that I am not alone. So THANK YOU!
I had a period of reduced income towards the end of last years but I was holding my own until the CC companies decided my long time record of paying as agreed warranted cutting credit lines without warning and then raising my rates. Like many here, I struggled with my situation and scrambled to find a solution. The CC's made it easy when they started piling on overlimit fees and late charges. I watched balances climb by the hundreds of dollar every month. I tried to work with them but all they wanted was their money - NOW! I was really amused that after begging them to accept principal only payments for six months until I could get back on my feet, that they came along and offered settlements of 25% to 50% of the balances.
I really feel no remorse for what they forced me to do. Another interesting thing is that my credit score has gone 539 to 641 since I have filed.
The 341 was fairly simple and straight forward. I was asked to present a photo ID and SS card. I was asked to verify under oath that the filing documents were correct. The trustee and my attorney discussed my income figures (I am self employed and the gross income was high as it was all business income) but resolved that issue. The only other issue was an old tractor that I own. It is definitely not a restored parade tractor, it is 62 years old and is worth more in scrap than I could get selling it as a tractor. I had to email a photo of it to prove it. My attorney said that should settle the matter. No creditors were there for either myself, the three cases before me or the two or three that followed mine. I breifly spoke to the trustee before my hearing. He said he would hold 34 meetings that day, so I guess business is good (or bad depending on which side of the table you were sitting)
I would like to say - I don't post much and only occassionaly lurk here. Much of what I would have to say has already been said. But I do appreciate the fact that this forum and you members are here. Not that I would wish our situations on anybody, but it is good to know that I am not alone. So THANK YOU!
I had a period of reduced income towards the end of last years but I was holding my own until the CC companies decided my long time record of paying as agreed warranted cutting credit lines without warning and then raising my rates. Like many here, I struggled with my situation and scrambled to find a solution. The CC's made it easy when they started piling on overlimit fees and late charges. I watched balances climb by the hundreds of dollar every month. I tried to work with them but all they wanted was their money - NOW! I was really amused that after begging them to accept principal only payments for six months until I could get back on my feet, that they came along and offered settlements of 25% to 50% of the balances.
I really feel no remorse for what they forced me to do. Another interesting thing is that my credit score has gone 539 to 641 since I have filed.
Good luck.
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