If the trustee asks for more stuff at the 341 meeting, when do you hear back and more

[firsttime]

Does your "timeline" not start until they go thru what they asked for and get back to you? Or does our 60 days start at the 341 meeting? Also, if she gave us 2 weeks to get her the information and we got it to her within 2 days, will she get back to us sooner?

[AngelinaCat]

Your 60 countdown should start with your 341. That is generally so, but it sounds like yours may have been 'continued'. Is that so? Or is it completed, and the trustee is simply asking for more information?

In our case, the trustee did not ask for additional information, but about a month into our 'countdown' we were ruled an 'Asset Case', and an additional block of time, about a month or so, was added to the time that our creditors had to file objections to the discharge of their debts in our case.

Do you have an attorney? If so, what do he/she say?

Also, the UST, can and will pick a case at random for an audit, which is a more particular 'fine-toothed comb' going over your case, than what usual happens. Those random picks usually happen every 500 cases or so.

Good wishes to you!

[firsttime]

She didn't say anything about being "contintued" or "I'll see you at the next meeting", it was that she requested some statements for some royalties that we own. They're not worth much and she'll see that. She also requested a signed affidavid from my husband's mother, whose account Wells Fargo FROZE because my husband's name was still on it, although we thought it was taken off last April. Prior to our 341 meeting, we gave her a listing of all the deposits in the last 3 months to her account, showing they are all hers, and an accounting of where the biggest chunk of money came from, her refinance in September. She said prior to the 341 meeting if we got a affidavid signed saying it's her money and where the big chunk came from, that SHOULD be acceptable. We sent the affidavid that night of our meeting.
We do have an attorney. They told us that they have sent the paperwork to the trustee. As far as the bank account goes, will they notify us that it has been released? If she releases it, how long will Wells Fargo take to release the funds? And with the royalties, no news is good news? Does she have 30 days to get back to us? She had asked for the information in 2 weeks and we gave it to her much sooner.
THanks for your help

[AngelinaCatHub]

Your 60 day starts on the day or your first 341 meeting even if it is continued several times. Your 60 day is not in stone as if you have assets it can go longer, usually to 90. It could also go longer if the Trustee Motions for a lengthening of time for any reason. I doubt you have much to worry about except whatever your "royalties" are or worth. The reason of what they are may be how easy could they be liquidated or abandoned. 'Hub

[firsttime]

They are not easily liquidated. They generate, maybe $700 a year, and that's not a definite. They're more sentimental, as they've been with the family since the '50's. So if she tried to "sell" them, it would take a long time. What we're most concerned about is that bank account, as Wells froze over $120K! if she said the affidavid should be fine, when will we know, or will my mother in law just find out the day when she continues to look at her balance????

[AngelinaCatHub]

Why is your name on her account? Is this to avoid probate? (Not at all a bad thing) This red flags you and the Matrix must have been listed with this account. I hope Mom in law does not get hit with a forfeiture. Please keep us informed. 'Hub

[firsttime]

My husband was on the account for the past 12 years or so, since his parents divorce, as to have a 2nd person on the account incase of emergencies. He signed the paperwork to get off the account in April, his sister went on the account. Turns out the paperwork was never filed. We had all the names/dates/etc. This was just a working checking account of hers, in her 70's, so all the deposits are predictable. She refinanced her home in September and had a huge chunk of money sitting there. It is 100% her account and we've proven that. The trustee was the one who asked for the affidavid. So isn't that a good sign? We don't owe anywhere near the amount that was frozen. NO where near.

[AngelinaCatHub]

My husband was on the account for the past 12 years or so, since his parents divorce, as to have a 2nd person on the account incase of emergencies. He signed the paperwork to get off the account in April, his sister went on the account. Turns out the paperwork was never filed. We had all the names/dates/etc. This was just a working checking account of hers, in her 70's, so all the deposits are predictable. She refinanced her home in September and had a huge chunk of money sitting there. It is 100% her account and we've proven that. The trustee was the one who asked for the affidavid. So isn't that a good sign? We don't owe anywhere near the amount that was frozen. NO where near.

Yes. He is probably protecting his own bottom from the UST by covering that fact with the affidavit. 'Hub

[firsttime]

Do you have any knowledge/experience as to how long the process can take? If she releases the funds and tells Wells to release the funds, can they drag their feet? I know she had some mis-information at our meeting. She said that wells told her MY name was on the account, which isn't even possible, and then said that wells said they only took $20K, not over $120K!

[firsttime]

UPDATE: The funds were returned to my mother in law's account.

[mountanddo]

UPDATE: The funds were returned to my mother in law's account.

I'm glad that happened before Christmas. Have a happy holiday!

[AngelinaCatHub]

UPDATE: The funds were returned to my mother in law's account.

Super!

[luckstyl]

Just curious - was WF one of your creditors? I'm wondering how likely it is that I will have my checking account frozen when my paperwork goes through. My lawyer thinks it's very unlikely because I don't owe them money and will have less than $100 in the account.

[firsttime]

We have a creditcard with Wells Fargo, but no bank accounts. My husband had thought we had his name off of his mom's account last April and didn't. They froze her entire account, more than $120K. WELL above anything we owed WF. If I were you, I wouldn't have any accounts with them. They take it upon themselves to freeze accounts for the good of the trustee. I just wouldn't bank with them, my 2 cents.