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341 in 4 weeks. Question

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    341 in 4 weeks. Question

    Ok guys we have our 341 in a month. Lost my job today.... will the judge let me keep less if I'm out of work? Also, on a couple of cards I got when I was 18-19 I put a higher income on the first application then I was making. I kept the cards for 10 years and they are the ones with really high balances. Will this be an issue?

    #2
    So sorry to hear about the job, was it a lay off? Hopfully you can collect unemployment. I do not believe they will go back and research how you filled out your app when you were 18 or 19. I think you are ok

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      #3
      Originally posted by Blackgoose View Post
      will the judge let me keep less if I'm out of work?
      I'm not sure what you mean by this. Do you have non-exempt assets that you are worried about? If so, the exemptions don't change because you lost your job.

      In a Chap 7, losing your job will help your case if it has any affect at all.
      LadyInTheRed is in the black!
      Filed Chap 13 April 2010. Discharged May 2015.
      $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

      Comment


        #4
        So sorry to hear.
        Recovery my behind.

        Keep On Smilin'

        Comment


          #5
          I don't have any advice. I am so sorry for your job loss.

          Take care - Lynn

          Comment


            #6
            Originally posted by Blackgoose View Post
            Ok guys we have our 341 in a month. Lost my job today.... will the judge let me keep less if I'm out of work? Also, on a couple of cards I got when I was 18-19 I put a higher income on the first application then I was making. I kept the cards for 10 years and they are the ones with really high balances. Will this be an issue?
            Sorry about the job. Our so called recovery can be relative like the difference between a recession and a depression.

            I can't imagine that a 10 yr old application has any relevance to your current situation. The lesson here is be sure everything is accurate on your BK petition. Given that you just lost your job, I would think that you need to amend Sch I and maybe your statement of financial affairs. Contact your attorney and get them to submit the updated information.

            BTW. A judge won't see your case unless there is a big problem. You will only see a panel trustee.
            Chap 7 Non-consumer --Realized headed for bankruptcy Nov 2010 --Started planning BK7 Spring 2011 -- Filed Sept 2011 -- 341 & Continued 341 Meetings Nov 2011 --No Asset Case Nov 2011 --Discharged Jan 2012 --Closed Feb 2012

            Comment


              #7
              Originally posted by nohoneymoney View Post
              Given that you just lost your job, I would think that you need to amend Sch I and maybe your statement of financial affairs. Contact your attorney and get them to submit the updated information.
              Yes, the attorney should be informed of the lost job. But, the petition should not need to be amended if it was accurate on the date it was filed.
              LadyInTheRed is in the black!
              Filed Chap 13 April 2010. Discharged May 2015.
              $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

              Comment


                #8
                So sorry to hear about the job loss, BG. My thoughts are with you.
                Also agree that the long ago applications shouldn't be an issue.
                good luck.
                filed: 8/10 ...341:10/8/10 ... Discharged & Close: 12/9/10
                "Nothing is easy to the unwilling" Thomas Fuller

                Comment


                  #9
                  A note on the old credit card applications... A long time ago, records were kept on paper. That paper was filed somewhere. Banks bought banks, debts got sold, etc. Somewhere there MIGHT be a piece of paper with your autograph on the application stating your income, but for all intents and purposes that paper (if it still exists) is somewhere in a warehouse resembling the one at the end of Indiana Jones.

                  Comment


                    #10
                    Ahhh btbeme......thanks for solving that long mystery for me. I was wondering what that was at the end of the movie.
                    filed: 8/10 ...341:10/8/10 ... Discharged & Close: 12/9/10
                    "Nothing is easy to the unwilling" Thomas Fuller

                    Comment


                      #11
                      Originally posted by oregonpilot View Post
                      Ahhh btbeme......thanks for solving that long mystery for me. I was wondering what that was at the end of the movie.
                      I'd love to explore that place to see if I could find all the matches for my socks.

                      Comment


                        #12
                        Originally posted by LadyInTheRed View Post
                        Yes, the attorney should be informed of the lost job. But, the petition should not need to be amended if it was accurate on the date it was filed.
                        Oops. You are right... you shouldn't have to amend the petition.
                        Chap 7 Non-consumer --Realized headed for bankruptcy Nov 2010 --Started planning BK7 Spring 2011 -- Filed Sept 2011 -- 341 & Continued 341 Meetings Nov 2011 --No Asset Case Nov 2011 --Discharged Jan 2012 --Closed Feb 2012

                        Comment

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