log for filing chapter 7

[bdruff]

i haven't read all the forum rules... does that question violate one of them?

[justbroke]

lol... whats the appropriate California statute which allows me to claim that exemption?

This is where we don't like to specifically give legal advice, and nothing we say should be considered legal advice. The problem is that if you do what I say, you should not come back complaining or get upset that what I told you was incorrect.

Having wrote that... look at System 2, and if you're not using your homestead exemption, you can use that as a wildcard... which is probably why you switched to System 2.

[bdruff]

thats what I did. Thanks... I'd like to post what I did with exemptions and my case as sort of a open book template for people to use. Is that a bad idea? I've learned a lot and would love to help others thru this forum

[justbroke]

thats what I did. Thanks... I'd like to post what I did with exemptions and my case as sort of a open book template for people to use. Is that a bad idea? I've learned a lot and would love to help others thru this forum

I have done so in my blog. However, I removed all personal information.

[bdruff]

Update...

I filed my amended schedules about 2 weeks ago

Some changes I made were:
1. Changed my exemptions from 704 to 703 exemptions.
2. Moved some back taxes to non priority and some to priority
3. Added a flatbed trailer that I forgot to list
4. Added a debt owed to me
5. Removed cell phone account from schedule G because I’m no longer under contract

I was able to find all the exemptions online.

I paid $26 to file the amendments.

The trustee requested our last tax return and 60 days of pay stubs. I sent them next day air via ups to make sure they were received on time.

I had my 341 meeting yesterday in Fresno California with Jim Salven.

Before we started he had everyone in the room fill out a questionnaire.

We were the first party called because he said the trustee office wanted to talk with us about the document preparation company we used and had some questions for us.

He swore my wife in first and asked her some questions. She was nervous because I’ve done all the work on this so far. After a few more questions he asked my wife if I knew more about these questions and she said yes. He noted that on the paper and then swore me in. He asked if we have sold anything in the last 3 years. We have sold everything but 3 big things that we told him about. He asked if we got what they were worth at the time we sold them and we had. He asked if we sold them to different people at different times and we had.

He asked about our vehicles. We surrendered one and he asked a few questions about that. We are not keeping another vehicle and he asked about that.

A few questions on the questionnaire ask about people owing you money and we had answered yes. We told him who and how much. He had us explain how we came to have the claim and we explained what it was.

He said that we needed to amend our filing and note that owed amount.

I told him that I had already filed the amendments. I brought a copy of the amended filing and asked if he wanted it. He took it. I also asked if I could ask a question.

That morning I was looking over everything again and realized that I listed the debt owed to us as an exemption but I used the wrong exemption code. Note. Pecuniary means having to do with money. I didn’t know the definition and decided I should look it up the morning of the meeting. The exemption I used deals with personal property damage not pecuniary related. Mine was money related so I couldn’t use this exemption. I corrected it and took it with me to the 341 meeting. I showed him that I changed it and asked if I should file it as an amendment and he said yes.

He said the meeting was closed and then sent us to the trustee office. He seemed like a really nice guy and wasn’t intimidating at all.

The woman at the trustee office was very nice also. She asked about the doc preparation company we used and how we found it. I told her the internet. She asked how much he charged and we told her. We also told her that we ended up meeting with an attorney and she asked who. She knew the attorney. We told her that the attorney recommended some changes and we had filed an amendment. She said everything looked good and asked if we understood everything. She said good luck and we left.

We took the amended schedule C upstairs and filed it. There was no charge for this schedule amendment.

Then we left.

Meeting was set for 1:00

After everything, we were back in our truck by 1:30.

[justbroke]

Very nice. Welcome to the sixty day club.

[bdruff]

I received notice of filing report of no distribution, combined with order fixing deadline to object thereto. Last day to file an objection: 10/29/2009.

I think thats good.

[justbroke]

So far, that sounds real good!

[bdruff]

We have to do our last classes and pay our last $100. Then I think we wait. My car loan was 2, almost 3, months behind when we filed. I had them send me a re-affirmation package but I would only consider a much lower principle amount. They said they will not work negotiate terms with someone filing chapter 7. I had them send me the packet anyway. That was about a month ago. So far... nothing.

The way I understand it, there is an automatic stay untill the bk is discharged. Untill then, the bank would need to go to court and have the stay lifted.

I haven't been notified of any court date.

I'm curious whats going to happen. I don't want a repo guy showing up at my house but I want to drive it as long as possible.

[justbroke]

The way I understand it, there is an automatic stay untill the bk is discharged. Untill then, the bank would need to go to court and have the stay lifted.

You have that a little backwards. First, yes, there is an automatic stay in place imposed by 11 USC 362. However, that stay can be lifted at any time upon motion by a creditor in interest. In other words, they do no need to wait until discharge. They can file a Motion For Relief from the automatic Stay (MFRS) at any time!

You'll just have to see how it plays out. Most of the vehicle lenders don't "deal" on the balance with a re-affirmation. You could try to do a 722 Redemption, but you could end up with a higher interest rate anyhow.

[bdruff]

that stay can be lifted at any time upon motion by a creditor in interest. In other words, they do no need to wait until discharge. They can file a Motion For Relief from the automatic Stay (MFRS) at any time!

This is something I would have to be notified about if I understand it. The motion is heard by a judge. Do I have to be notified that this is happening?

We dont really want to keep it. We want to lower our expenses as much as possible and drive our income. We'll pay cash for another car. We would have only considered it if they cut the principle in half taking the balance down to kelly blue book values. We owe double that at a 14% interest rate.

And its starting to fall apart anyway, so they can keep it.

[justbroke]

This is something I would have to be notified about if I understand it. The motion is heard by a judge. Do I have to be notified that this is happening?

Yes, you would receive a notice.

[bdruff]

Thats great! I don't want them showing up at my house unexpectantly. How long does it normally take to close the case after the last day to object, if there is no objections?

[justbroke]

Thats great! I don't want them showing up at my house unexpectantly. How long does it normally take to close the case after the last day to object, if there is no objections?

This is too District specific, so I can't tell you. In some Districts, they will autoclose when it auto discharges. In other Districts, closing is separate and can take days or even weeks (or months) to close.

[bdruff]

This is too District specific, so I can't tell you. In some Districts, they will autoclose when it auto discharges. In other Districts, closing is separate and can take days or even weeks (or months) to close.

wonder how I would find out...