Anyone had creditors show up to 341 meeting?

[newday]

and if so who where your creditors and what were the circumstances (what kind of debt and how much?).

I'm kind of curious if the creditcard companies are going to approach the months until the new law goes into effect more aggressively since they probably know alot of people are going to be rushing to file.

[cathyh]

I have no idea what the credit card companies are going to do with the new law coming and all. I filed chapter 7 last year and no one showed up, and my lawyer told me it was extremely rare for creditors to show up. They might if it's an asset case, but if it's a no asset case, I doubt they will show up.

[robivi3]

I wrote off MBNA for $17,000.00 and they never showed.
Chase Platinum $11,000.00
AMEX Blue for Business $6000.00 No show
Add $17,000.00 to that, up to $5,000.00 on each creditor and all no shows

I wonder if the company figures how many times over they were paid over the years. In my case most of them still came out ahead. The only one I hated to write off was the leasing company for Office Equipment. I returned everything, some unopened but I know that they are small, but even they were paid within six months according to the retail price

[worriedbk7]

Robivi- Did any of those creditors try to get you to settle or threaten? I am writing off MNBA for $16K and chase platinum for $16K also. Just alittle scared of all this. THanks

[HHM]

Credit Card Companies generally only show up if they have a reason to object to the discharge of their debt. It has nothing to do with the total amount due or anything like that. The main reason a creditor would show up is if you had major charges or cash advances within the 6 months before claiming BK. (usually in amounts in excess of $2,000).

[3131tj]

Well, I feel better...I would be discharging 2 MBNA cards totaling about $10,000. I hate them and when I eventually get my credit rating back up I will NEVER have another MBNA card - EVER. Do you know they just upped my interest rate and then three days later I get the "Access Checks" in the mail - I'm half tempted to use them!!!

sorry, didn't mean to rant

[robivi3]

Don't worry, MBNA feels the same about you... and me. I think we're on their list. The card i regret losing is AMEX Blue for Business. I had MBNA as an unsecured loan. It may be different with a CC.

And Worried, HHM's answer seems to be the best one on this. Unless they can prove fraud it's pointless from their view to go after you. The loss is factored into the way they do business.

No threats, they were all reasonable. MBNA sent an odd (I don't recall the details, it's in the BK file though), obscure offer of settlement after notification of the BK, that was it.

MBNA and Chase were the first to PROPERLY report the BK action on my Credit Report. Bank One and GE are absolute Boobs and couldn't write a first grade report card without help from the first grader himself.

[rockobuster]

I received a letter from my attorney stating that he received two letters from an attorney representing Chase Credit cards. One was for $5,000 (which was not within the 60 days of filing) and they said if we didn't reaffirm their debt or pay $2,400 cash settlement, they were considering filing an adversary proceeding. The other one was for $3,000 (which was within the 60 days) and they wanted us to reaffirm or pay a cash settlement of $4,000.

I'm not sure what we are going to do yet. We have our 341 meeting in several days. There are still two credit cards that can object (one for $9,000 and one for $3,000 which are withinin the 60 days - all from gambling debts).

I feel that if they all object that it might be cheaper to convert to a chapter 13, since paying out 15,000 to 20,000 under a chapter 7 can get expensive (our total debt we are bankrupting is $120,000.

Your thoughts?

[spooby72]

rockobuster....

I was just hoping you would update your experiences after your 341 meeting. I am curious how the large amounts within 60 days works for you. I am in a similar situation. Please let us know what happens!

[worriedbk7]

Ditto to what spooby72 said. I too am a victim of stupidity with gambling.

[edwards2]

We had our 341 a week and a half ago and only one creditor showed up. It was the one for our car and we had already agreed to reaffirm. The couple before us had a creditor showed up who absolutely drilled them. We could not hear what they were saying except that the word property was mentioned a number of times. The husband looked calm but his wife was nervous...that would be me too. I am wondering though just because your creditors dont show doesnt mean that they wont object does it? We are a no asset case and none of the other debts are secured debts.