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Our 341 is over, now we wait.

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  • Our 341 is over, now we wait.

    Had it this morning. Got there about an hour early and still only got to see one person before us. He must have filed pro se as he didn't have any representation with him. Another couple were waiting for their lawyer to arrive. Since our lawyer showed up early the trustee went ahead and called us up next. She wasn't nice, she wasn't mean, she was just matter-of-fact about it all. She commented, after first telling us we would need to pay for something we wanted to keep, that our lawyer's office messed up our paperwork. I told her that I had questioned our lawyer's paralegal about that same issue and was assured that all was correct. The trustee then agreed that although the paperwork was wrong we had enough exemptions to keep the property she seemed to really want to take. But then she questioned the value we put down for the property. She stated that she has sold lots of them in the past and always gotten almost twice what we put down for the value of ours. Luckily, I had proof that we had sold another one of these properties about seven months ago for $2000 realized less than what we listed the value of the one we wanted to keep. There wasn't as much argument after I showed an actual sale amount for an identical item through a licensed/certified broker for what the market would bear. It was almost like I was being tested on how much I really knew about the valuation of our property. I still don't think she is completely happy about the value but I did my research and asked a broker about what to value it so we would be as accurate as possible. Since we were only requesting to exempt our 20 year old vehicle, our $300 in our bank accounts, our personal property which really is valued at less than $2000 and our timeshare that still has a mortgage attached then it fits under the Ch. 7 exemption amounts with no problems.

    The lawyer asked if she wanted us to file an amendment but she stated that since there are no assets then it would be a waste of time. I am hoping that means we can relax a bit now and hopefully it is over. I asked our lawyer about the 60 days but he said it will be at least 90. I guess the courts are overloaded with BK's and the 60 days it used to take for discharge is now taking 90.

    No creditors showed up for us or anyone else in the room. Very few people were there actually. I expected the room to be full of people waiting their turn but I only saw about four individuals/couples. Now we just sweat out the 60 days the creditors have to file an objection. Next step.......file the divorce and get it out of the way. Then finally, Freedom!
    Filed Chapter 7: Feb. 9, 2012
    341 Meeting: March 14, 2012
    Discharged & Closed: May 21, 2012

  • #2
    I don't think you have a problem. Sounds like SOP to me. Usually 90 days would be an asset case but I am sure you are right as the caseload is going up fast. I can tell right here with all the newbies names popping up. Remember in November.

    Sorry about the divorce. Hope the money thing didn't cause it. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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    • #3
      Congrats on what sounds like a successful 341!!!
      ~~ Filed Over Median Income Chapter 7: 12/17/2010 ~~ 341 Held: 1/12/2011 ~~ Discharged: 03/16/2011 ~~
      Not an attorney - just an opinionated woman.

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      • #4
        Thank you for the well wishes. Checked pacer today and two days after the 341 there is a "report of no distribution" filed. I know from this forum that means we are mostly in the clear with only a small chance of a creditor coming out to object within the 60 days after the 341.

        The divorce has been coming on since we got married 19 years ago (in my opinion anyway). The BK just helped it along. The only hard part is that he told us on a Friday evening, right before the 341, that he was taking his paycheck and moving out. Leaving me with five kids to support on my income alone until I can get child support services to collect child support from him. I know from past experience that he won't pay it willingly for more than a couple of weeks. He will start out paying me and quickly dwindle down to nothing. He already is refusing to pay what the childcare guidelines say he should. Right now, I keep it cool, take whatever he gives and file an application for child support services as quickly as I can.

        Having the BK done will be a great relief and now we have very few assets to fight over anyway. But it sure doesn't leave any money for me to get a good lawyer. Or a reliable car. Just like everything else in life, it will all work out one way or another so I am not going to linger on it. Heck, I have been so good that I only have a $0.32 pacer charge! How's that for self-control? (Well, that and the Pacer Guidelines sticky note is an AWESOME tool to use in order to keep your costs down. Being able to access that has been wonderful)
        Filed Chapter 7: Feb. 9, 2012
        341 Meeting: March 14, 2012
        Discharged & Closed: May 21, 2012

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        • #5
          Congrats BV on getting thru the 341. Hoping for the very best for you & the kids.
          Good Job.....32 cents!!
          Sounds like the only direction to go now is UP.
          filed: 8/10 ...341:10/8/10 ... Discharged & Close: 12/9/10
          "Nothing is easy to the unwilling" Thomas Fuller

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