when would payment plan change?

[Amadan]

We have our 341 today. The plan confirmation isnt until the end of June. So if the trustee doesnt like our plan when would we find out? Do they wait all the way up until the confirmation hearing?
We have been working hard at living within our means, and while its not easy and we have had to cut out a lot of things I think we can survive this ordeal. I am just worried that the trustee may raise the payback. I have been using MSMoney and the numbers dont lie. Even if it goes up as little as $50/mo we would instantly be back with our heads underwater. The hard part is there is no wiggle room for live events. illness, job loss, reduction in pay. These are things that have already been happening and part of the reason we are having to go through this. If any of these come back up again we wont be able to keep up with the plan.

I couldnt make heads or tails of PACER and was too worried about racking up charges to dig deep enough. At the 341 do we find out if any creditors have made claims? The payback is going to be pretty small for unsecured, and the first 3 years of payments are all going to the secured creditors as priority claims. I was wondering what would happen if none (or even just very few)of the unsecured decided to participate. They may get more benefit by just writing it off.

[SMinGA]

If the trustee files an object, it will probably be in the next 2-3 weeks. An objection is not automatically a big deal - some are procedural and come down to how things are worded.

Creditors will have a while to file claims still. There is a link in the Gen. Bankruptcy forum to the 13 Data Center - if your district participates you can sign up to easily be able to check your claims, payouts, etc. Its free, by the way.

If very few file claims, it just means those who DO file claims get paid more.

[Lissy]

You won't find out anything at the 341. Approximately 1-2 weeks later, the TT will file a recommendation for confirmation and it will be either favorable or unfavorable. If the TT has objections, he/she will file an unfavorable recommendation. You can pull this off of PACER, or just wait for it in the mail. It will be sent to you and your atty. Your atty then needs to work with the TT to resolve the objections. If your plan payment is going to change as a result, your atty will notify you. That won't necessarily happen just because the TT has objections though.

[Amadan]

well, we finished our 341. We were last in the group of 4 couples that went into the room together, and the first 3 sets ALL got hammered. Tons of questions and they all ended up being told they werent going to be confirmed until they provided more info, ect. I was about ready to either drop dead or throw up by this point. There was even an IRS rep that sat in on the first 3 and had questions. When our turn finally came the lady from the IRS excused herself from the room saying she had nothing for us, that she was done. The trustee only asked us about 5 questions, turned and thanked our lawyer for doing a wonderful job on having all the paperwork filed and complete. The last thing he said before turning off the recordor and dismissing us was that he was recommending our plan for confirmation and wished us good luck in moving forward.

Whew.

I guess it pays to be OCD about having all the paperwork 100%. I figure my lawyer was getting sick of my nitpicking and making sure it was all accurate, but it sure sounds like it paid off.

Special THANKS to all the BKforum posters out there. I couldnt have made it this far without the help of this community!

[sheilaE]

Hi Amaden,

Thank you for the update. So glad it went well for you! Can I ask what paperwork you took with? Was it like bank statements and if so, how far back did they ask for?
Thanks!

[newbie2]

well, we finished our 341. We were last in the group of 4 couples that went into the room together, and the first 3 sets ALL got hammered. Tons of questions and they all ended up being told they werent going to be confirmed until they provided more info, ect. I was about ready to either drop dead or throw up by this point. There was even an IRS rep that sat in on the first 3 and had questions. When our turn finally came the lady from the IRS excused herself from the room saying she had nothing for us, that she was done. The trustee only asked us about 5 questions, turned and thanked our lawyer for doing a wonderful job on having all the paperwork filed and complete. The last thing he said before turning off the recordor and dismissing us was that he was recommending our plan for confirmation and wished us good luck in moving forward.

Whew.

I guess it pays to be OCD about having all the paperwork 100%. I figure my lawyer was getting sick of my nitpicking and making sure it was all accurate, but it sure sounds like it paid off.

Special THANKS to all the BKforum posters out there. I couldnt have made it this far without the help of this community!

Congrats! You are correct, nitpicking is a good thing :-) It's rare (at least in my area) that a case is confirmed without some sort of objection and give or take. It sounds like you and your attorney both did a fabulous job.

Pat yourself on the back!

[pete42]

We had our 341 meeting on 5/3 and were lucky also. We were the last couple to go in and our attorney told us we got the nicest TT there. He asked us about 10 questions and we were done. It took 10minutes and we were out of there. All the paper work was correct and the TT said it looks good.

[Nanzee]

Our trustee objected to everyone unless they were in a 100% payback. He yelled and screamed at everyone. Horrible man.
We were eventually confirmed, at the original proposed payment, which was a big surprise for me. His objections for us wanting some more bank statements, and some explanations of withholdings on my husband's paycheck. After 2nd agreed to strip, we were confirmed.

[Universal]

At our 341 the Trustee said something about probably recommending our plan for confirmation and I saw on the Pacer docket report that he was recommendation was favorable.

[MyBailOut]

At our 341 the Trustee said something about probably recommending our plan for confirmation and I saw on the Pacer docket report that he was recommendation was favorable.

On May 10th, I sat in on my 341 Hearing and the Trustee (Attorney for Trustee actually) said everything looked good except for one of the Schedules not being there. (Child Support information, Mothers Address and Entity being paid for Child Support) He said "Get that turned in, and it looks like we'll be recommending your plan"

Now today, I look on Pacer and it shows a couple of entries that I am concerned about.
May 12th - Chapter 13 Meeting of Creditors Held - Trustee Does Not Recommend Confirmation
May 12th - Chapter 13 Trustee's Motion to Dismiss Case

I hope that is just formality, and once my Attorney does his job and turns the needed information over (Assuming that the Motion to Dismiss is because of the missing paperwork) to the Trustee that the Motion to Dismiss will be rescinded.

Any thoughts???