Just got notice for 341 date - Question re: "presumption of abuse" ??

[kawimominPA]

My court date notice came today and we had a question...... The paperwork says -
"The presumption of abuse does not arise."
We are assuming that's a GOOD thing? But just wanted to make sure.
Thanks.

[sunshinepa]

Excellent thing. It could change it's doubtful. You would know either ahead of time in PA or at the 341. One good sign I had was that the trustee NEVER asked for any additional paperwork. Actually, I didn't report it in my update but according to my attorney, he never even saw my bank statements. At the 341, he asked for my CMA on the house and my 2011 tax return. He barely glanced at them. I had a 1049.00 refund I spent and he never even asked me if I spent it. I have yet to see anyone on this forum from PA who had a rough 341.

Hang in there, the 30 days will pass quickly!!!

[tobee43]

The “presumption does not arise” is a statement indicating that a debtor’s income is not such that he or she would be disqualified from filing a Chapter 7 Bankruptcy case....do that's a good thing..

[SunshineGal]

Hate to be a downer here, but the notice for the 341 is issued upon filing, so it will match whatever was checked on your means test, same with assets. Sorry.

[kawimominPA]

That makes sense. Thanks.

[tobee43]

That makes sense. Thanks.

i totally misunderstood. i guess, i read it as rec'ing a notice of "The presumption of abuse does not arise." so i was going on the "does not arise"...