341 yesterday

[GuitarPlayer321]

We had our 341 meeting yesterday in Michigan's Eastern District-Bay City. We arrived a half hour early to watch some of the other cases and get a feel for what questions to expect. The trustee was very friendly, smiled often, and asked about 7 questions of the debtors. Most of his cases were no longer than 3 minutes. Unfortunately for us he was the trustee for the previous hour not our timeframe. Our Trustee came in and was definately more serious and stern than the previous trustee. When our turn came we were asked immediately for the title of a mobile home which we gave away after we filed. (Basically we gave it away because we moved into a subsidized housing unit that was a 5 BR home and we have 4 children so the mobile home was very crowded. Not only crowded but it was a 1979 mobile home and in poor shape. We moved out of safety and health concerns. We had 1 weeks notice that a house was available and we decided to place an ad in the free for all section. So we cut our loses and gave it away.) When I replied no she abrubtly said " Case adjourned to December 27th? I asked her if I could explain why I no longer had the title and basically gave the above explanation. She asked why I listed the value of the trailor at 750.00 on my petition and I said I am not an appraisor and had to come up with some figure for the lawyer. I know I was honest and forthtight but she acted like we were trying to defaud.
End of story is that we completed the 341 and as of today it says on Pacer no assets to distribute. We are just glad that part is over with.

[Minnymouth]

Ok, you have created some problems for yourself.....

Did you have an attorney??

During bankruptcy you are not allowed to transfer, buy, sell or give away anything!!!!! Did your lawyer not tell you that????

Legally, the mobile home is an asset you have disposed of during bankrtuptcy.

Now the trustee can force you to pay him the value of the mobile home.....

Now as far as you case being "over"..... doubt it.... You said the trustee extended the 341 meeting till Dec 27th.
The trustee will research the info on the mobile home, find the title to it, and get the value of it..... then will probably have another meeting with you on Dec 27th.

Warning.......Do not be mis-lead by Pacer saying no-assets!!!!!!!

When you original filed you probably filed a no-asset case. Now it has all changed - the mobile home was an asset that you gave away....

Many times pacer will not update the portion of the original filing (chapter 7 no-asset) information.

They didn't mine, and still haven't, and mine changed from no-asset to asset case because of an unperfected title on my mobile home. The trustee took it and is selling it....

If you have an attorney, best be talking to him...... see what is going to happen.

If no attorney, then plan on being back in court on December 27th to represent yourself.....

Keep us posted,

Minny

[FoolAndHisMoney]

Yeah, Minny's correct! Everything on your petition belongs to the bankruptcy estate even exempt property untill you get your discharge. You can't sell or give away anything, even a broken TV set that you listed. It just looks suspicious. You certainly can't sell or give anything away below FMV especially while in bankruptcy. Cases get dismissed because of this. For the small amount and age of the asset you will probably have to come up with the book value in cash and give it to the trustee.

[newstart]

So as for vehicles, if you decide to surrender yours you can't get another one until after your discharge? I wanted to surrender my vehicle but I'm afraid to because if I can't get one till after discharge I will be in a pickle. Would this apply with the 722 redemption or would it be okay to get another vehicle under this rule? Where can I get information about all of this in dummy terms?

newstart

[GuitarPlayer321]

This was something that had hardship circumstances. My lawyer said because I was moving into public housing and didn't know when I would have a unit available it should be o.k. As long as my mobile home remained in my name I would be liable for lot rent. I had no time to wait for a discharge. The FMV of that trailor was zilch, zippo, it was unsafe and unclean for my children so I really don't regret doing what I did! As I stated I think the trustee knew that I was being honest and she DID NOT adjourn the case until December. She was at first going to but then listened to my explanation as to why I gave it away. In fact she did not even lecture that I did anything improper. It just raised flags at first but she accepted my explanation and moved on with the rest of the 341. In a perfect world events would not have warranted giving it away to provide my children with a 5 BR home compared to a run down POS trailor but whatever. BTW on Pacer it shows that she has concluded that there are no assets to administer for the benefit of the creditors of the estate. So I'm not worried about it.