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My 341 today

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    My 341 today

    Just got home. It went OK, I was grilled on my stock trading account though. The trustee actually had a wry grin on his face when he asked me where I got the idea to trade on margin. I didn't have an answer, I just said that's how I invested. Other than that it was just the standard questions.

    The lady who went first did NOT have a good meeting, it was continued. I don't know if she was 7 or 13, sounded like 7 since she was surrendering a home, she apparently owned a couple of different properties. Her attorney should be dragged down the street, he did not prepare her at all, he didn't even have 6 months of pay stubs from her, and she was trying to hide her bonus money, obviously, and he was going to let her try to get away with it. A creditor showed up at her meeting and exposed it and got the hearing continued. However, the trustee said at the end of her meeting, "you're a single mom with two kids right?", even though he already knew that. I think he was just pointing it out to let the creditor know he didn't appreciate his badgering her. Again, that struck me as odd because she was obviously trying to hide income. During her routine questioning she said that her take home was $1900 on the 15th and 30th of each month, the creditor had her tax returns with him and pointed out that she was actually making over $100K per year and that she did not fully disclose the child support she was receiving. Her attorney really screwed up.
    Filed C7: 04/25/2007
    341: 05/21/2007
    Last Day for Objections: 07/20/2007
    Discharged: 07/23/07 Closed: 07/26/07

    #2
    So glad your 341 went ok, M! Now you can just keep a watch on PACER to see what happens during the next 60 days. Hope those 60 days go fast and quietly for you!

    And about the lady in front of you....if a debtor makes the decision to lie and hide assets (never a good idea!), she should have at least made sure the lie wasn't easily traceable to required documentation! She should have known that the trustee would have her paycheck stubs for the last six months and see the bonus....tsk, tsk. And to shortfall her income by HALF ($46,500/yr vs the real $100,000/yr) - wow! I wonder how her lawyer is going to dig her out of this deep hole. Think maybe she lied to her lawyer or maybe he's just incompetent?
    Last edited by lrprn; 05-21-2007, 01:51 PM.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

    Comment


      #3
      Awesome, hope everything works out for you !

      CMICY
      July 2006: Filed Ch13 :blink:
      Oct 2006: Converted to Ch7 :clapping:
      Jan 2007: DISCHARGED :clapping:
      Nov 2007: CLOSED :yahoo::yahoo::yahoo:

      Comment


        #4
        Actually, the poster said the TAKE HOME was $46K/yr. So that means her gross must be around $55-65K???

        I have a hard time conceiving how someone who makes $100K a year wouldn't be vigilant enough to read up on basic bk laws/info???

        Comment


          #5
          I'm sure that her attorney was part of the deception because he filed her case with only 1 month of pay stubs, which in her case would have been only two pay stubs. The trustee didn't seem to have a problem with that, but the creditor kept pointing out that the means test requires a six month lookback. and after further questioning I figured out why she did not produce the entire six months of pay stubs - it was because her bonus money would have been disclosed which throws her income up over $100K. Also, she did not bring her social security card, something that shows just how sloppy either her or her attorney were.
          Filed C7: 04/25/2007
          341: 05/21/2007
          Last Day for Objections: 07/20/2007
          Discharged: 07/23/07 Closed: 07/26/07

          Comment


            #6
            Also, the schedules were posted in the lobby of the 341 room. The filers were scheduled by attorney, that is myself and two other filers had our meetings in succesion because we had the same attorney. Our attorney asked us to wait out in the lobby after the meeting and told us what a great job we did at our hearing and told us to call him if creditors keep harrassing us. I noticed that Pro Se filers were scheduled last. I assume he schedules them last to give them a little extra scrutiny.
            Filed C7: 04/25/2007
            341: 05/21/2007
            Last Day for Objections: 07/20/2007
            Discharged: 07/23/07 Closed: 07/26/07

            Comment

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