341 this morning. Helpful Info.

[TDP]

We had our 341 this morning at 0900. We got there early, but we were still stressed because it was almost a two hour drive for us. Found the docket, 128 out of 132. Figures. Took our seat and waited. Our attorney showed up and told us that he would work his clients in earlier than our expected time, he is also a trustee on the side which really helped out since it was so crowded. Few issues that might be helpful.

Stressed out. We were totally stressed out like everyone else. Good to see how things work, how fast things moved. We had 5 basic questions,
1. Has your address changed since you filed bankruptcy?
2. Have you ever filed bankruptcy before?
3. Did you receive and understand the Statement of Information required by the Bankruptcy Code?
4. Is the information cotained in your bankrupcty filing both accurate and complete?
5. Are you entitled to any tax refund, insurance proceeds, or inheritance?

That was it. Most were only asked these questions, but since I have a small business on hold until the things work out and the smoke starts to clear, I had a few extra questions about business location, rental, assets, debts, etc. Nothing new to inform, just wanted to clarify. That why it is so important to have everything worked out and discussed before arrival. Our attorney was really helpful and prepared.

Make sure your lawyer is prepared. We saw several cases where the trustee asked the debtor a question which stumped both the debtor and attorney. Lack of planning plain and simple. Paperwork not in order, deeds not furnished, etc...

The trustee is prepared, he knows what is going on. We saw two where he found deeds on land and homes which were not listed. Be honest, it is awkward for the trustee to pull out a copy of your deed and asks "is this your signature?, Is this your property?" Ouch

Bankruptcy is a great thing for those of us who truly have to do it. I got to see one guy who is totally wripping people off only to file bankruptcy to avoid paying his debts. He was the guy who offers to repair your grandparent's house, but only walks away with their money. He had two creditors show up himself. $50,000 from an elderly couple he had promised to fix their home, $1200 from another who supplied him with lumber. Two other homes not finished, and he was leaving town after the 341. I hope he gets what he deserves. He'd get a lot more if they were my folks.

Creditors. We had at least 5 creditors show up for the time that I was there. An attorney told me he has not seen that many since the old days. Mostly local store owners or customers or friends not getting paid back. We did not have any show up, all of our creditors were big banks and cc companies.

Question for me:
I checked Pacer and the trustee has asked to be removed from our case and that everything has been done. Good News?? I hope. It has been a long wait.

Hope this helps all. TDP

[sunshine08]

TDP - Great post. Good information. People that have been thru the process and didn't have problems or had limited problems, tell you to try and not to stress, but that is easier said than done. But each time we hear it, makes you feel better.
Ours went about the same way. Trustee wanted a little clarification, kinda gave it the personal touch. Our attorney was a a godsend, because she had our ducks in a row and I brought along all the things we had seen on this forum like tax papers etc., just in case.
It was odd to see some filers and attorneys so ill prepared, especially those representing themselves. (they should know they would be checked a little closer) People showing up late, attorney's not knowing about their client's cases. But, the way people dressed and acted so nonchalantly, was what amazed me the most. No matter how little or how much money (or credit) (JUST JOKING LIGHTENING TO SEE IF YOU ARE PAYING ATTENTION), you have you can dress decently and appropriately.

[TDP]

Funny you mention a dress code. I saw shorts, tank tops, and backwards baseball caps. I was embarrassed for them. I was wearing a suit and tie. I sat quietly in the front row with my wife. I was asked who my client was!! lol. I told them I was a customer instead. It would be nice to see a dress code enforced. Thanks, TDP

[Minera]

yeah mostly jeans etc... at mine too , I dressed nicely but I can't say the same for others..Maybe people think if they dress down the trustee will think they really have no money and will be easy on them My husband told me to dress down or else they would think I had money, I laughed and told him it was about respect.

[sunshine08]

Good job. It is about respect, if not for yourself then the situation and place you are at. Wearing clean, decent clothes, appropriate to the situation should be the norm, not the exception.
There were two women there when we to the 341 that I would have liked to stayed around and seen what they listed as employment. (because if it was what they dressed like, they would be a shoe in for bankruptcy - "no income, no assests whatsoever")

[thegiver]

adding a note

I Agree With Dressing Decent For The Occasion, As Long As There Is Yard And Garage Sales..anyone Can Manage To Do It, Even On The Smallest Income ! You Can Lose Everything And Manage To Keep Your Pride.

[sunshine08]

Pride is the key word. Filing bankruptcy is a legal means to the fulfillment of a debt. If you don't have any real assests to take, a judgement is another expense for the creditor to incur and the end results are still the same, no money. At least you are own up to the fact that, "hey, I am sorry, I don't have any money and I can't pay you." Going to court looking like "whatever" to me is like fraud. Check out what they are wearing to a wedding or a funeral, or a family reunion.
I guess you can tell that is a pet peeve for me.