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Above means - will the trustee ask extra questions?

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  • Above means - will the trustee ask extra questions?

    I've read the sticky about 341 questions and I've read a lot in this forum. The impression I get is that below means ch7 no asset cases are the majority and unless something looks unusual, the 341 is standard questions and you leave.

    What about above means ch7 no asset cases like me? My income is about double what the means test looks for, but I have a $1700 house payment and a $500 car payment, among other expenses. No assets, not particularly complicated, just above means.

    Should I be expecting more questions and more prying eyes? I don't have anything to hide, but to be honest the idea of going to my 341 in a few weeks scares me half to death.

    Does above means pretty much automatically mean a longer/more involved 341?
    Chapter 7, above median, no asset. Discharged with no UST involvement.

  • #2
    I was in the same situation as you are, above means median income, no assert and expenses include high mortgage, car payments etc.. 341 meeting took 5 mins and only standard questions. Good luck.

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    • #3
      In TX I doubt you will have much trouble. Although you will receive somewhat more scrutiny purely for an above median 7.
      1700 doesn't sound like an outlandish payment. Nor does 500 frankly. How much are the standards for your area? Only 1 or 2 here have reported issues with a tt regarding secured payments. Mostly they sail through.

      What other high expenses do you have? Is there a line item for booze and cigarettes lol? High pet care? High entertainment?

      Keep On Smilin'

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      • #4
        We are above median by $20k and our 341 was less than 5 min. Nothing was asked that wasn't asked of the other filers in the room. I think as long as your expenses in your means test are legitimate you should be okay.

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        • #5
          I am 10K over median and my 341 was over in 10 minutes only because someone from Best Buy showed up to ask me questions. The trustee's line of questioning was about 5 minutes during my 341. One hour after my 341, he already issued the report of no distribution.
          Chapter 7 filed: 5/12/13 (over median - no asset) | 341 Hearing: 6/12/13 (Bass & Associates appeared for Best Buy) | Report of No Distribution: 6/12/13 | Discharged 8/18/13 | Case Closed: 8/18/13

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          • #6
            Then (panel) Trustee is typically not the person/entity that will ask you about your income. That job is left to the Office of the United States Trustee (OUST or UST). If you are over the median, rest assured that the information on your schedules will be reviewed by the UST. There is no way to tell whether or not the UST will become "interested" in your case, since it is really a subjective decision. If the UST shows up at your 341 Meeting then you know they are "very" interested in your case. The UST normally doesn't appear in person, but rather sends a surrogate.

            If the UST does not appear at your 341 Meeting and you don't hear anything about a "Presumption of Abuse" within 10 days after your 341 Meeting, then you are usually in the clear. Please remember, that this is only for cases where you are over the median and/or your case has become "interesting" to the UST. Please do not ask what the red flags are that could trigger the UST's inquiry! Some of the known ones are unsecured debt over $100K, and significant income (over the median). Whether or not it affects YOUR individual bankruptcy, is too subjective to speculate.

            Bottom line, do not expect the (panel) Trustee to ask too many questions about your income other than to determine if your circumstances "changed".
            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
            Status: (Auto) Discharged and Closed! 5/10
            Visit My BKForum Blog: justbroke's Blog


            I am not an attorney. Any advice provided is not legal advice.

            Comment


            • #7
              Originally posted by stevie2012 View Post
              I am 10K over median and my 341 was over in 10 minutes only because someone from Best Buy showed up to ask me questions. The trustee's line of questioning was about 5 minutes during my 341. One hour after my 341, he already issued the report of no distribution.
              What did Best Buy ask you? I'm worried a creditor might show up and grill me about my credit card debt and accuse me of being a deadbeat loser. My 341 is coming up and I'm getting paranoid.

              Comment


              • #8
                Originally posted by Kristy12 View Post
                What did Best Buy ask you? I'm worried a creditor might show up and grill me about my credit card debt and accuse me of being a deadbeat loser. My 341 is coming up and I'm getting paranoid.
                Credit card creditors rarely show up. Best Buy seems to be an exception, because they assert items purchased are 'secured', and the usual advice is to ignore them. We do hear occasionally, that a BB attorney shows up at a 341, but I think even that is kind of rare. I BK'd Best Buy, and never heard a word from them.

                Comment


                • #9
                  Originally posted by Kristy12 View Post
                  What did Best Buy ask you? I'm worried a creditor might show up and grill me about my credit card debt and accuse me of being a deadbeat loser. My 341 is coming up and I'm getting paranoid.
                  It is rare that a creditor shows up. Try not to worry. The best you can do is to prepare yourself, by knowing where the 341 will be held, and how to get there. If it is several miles from your home, and you aren't familiar with the area, go for a Sunday afternoon drive and familiarize yourself with the traffic flow--one way roads going the wrong way--parking areas and the like.

                  You will do fine!
                  "To go bravely forward is to invite a miracle."

                  "Worry is the darkroom where negatives are formed."

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