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Just had my 341 meeting this morning


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    Just had my 341 meeting this morning

    I filed for Ch 13 in December due to personal loans and payday loans hitting my finances like a wrecking ball.
    I was paying them over $2000 a month, and had one that had already started garnishing my check.
    I had gotten laid off a year ago, and one loan just snowballed into multiple loans. I only managed to pay a couple off, and kept renewing the rest.

    I am married, but my spouse did not file with me. The house is under his name and his credit is decent.
    The only secured debt I have is my car.

    The first attorney I saw refused to file a Ch. 13 for me unless my spouse filed with me.
    the second attorney filed for me within two days and set my initial plan up with small payments and a 21% payback to unsecureds.
    He warned me however, that the payment would go up, but he wanted to give me a couple of months of breathing room to catch my utilities up etc.

    I was terrified and sick to my stomach last night afraid of what was going to happen today and what my new payment would be.

    my name was one of the last ones called, so I got to watch all the others go before me and it seemed to be a smooth process.
    each person only in front of the Trustee for a few minutes answering yes or no questions.

    No creditors appeared in my case. (phew! I had one person from one of the personal loans I had tell me she'd see me in court!)

    The trustee asked me all the yes and no questions, stated that my plan needed to be a 100% plan and raised my payment to $940 effective for the March payment,
    stated he had received my Jan and Feb payment. I was okay with $940, as my disposable income was over $1500.

    So far only $25,000 in claims have been filed. The cutoff date for claims is nearly a month away though.

    none of the payday loan companies have filed yet, and only one personal loan company has. I'm praying most don't and that I can get this paid off earlier than 60 months.

    All in all it was not as terrifying as I had imagined it to be.
    The trustee said he was recommending confirmation.

    I'm glad that part is over. I feel like a huge weight has been lifted off my shoulders. Now just 58 more payments to go, hopefully less.

    Congrats on getting the 341 over and done. I'm 14 months into a 60 month plan with way higher payments $2696.02 but it's due to mortgage, mortgage arrears, car loan (could not be crammed down) and IRS back taxes, trustee fees and two lawyers paid in full (first lawyer said to stop paying mortgage and file a ch7, only to find out I did not qualify for ch7). I'm retired/disabled veteran but know this too shall pass. This is a great forum with outstanding information. Keep up the payments and like the rest of us keep your head low!


      Congrats on getting through the scrary part Truthfully most people come back and say it was way better than they thought. Claims usually come in right up until the end so you'll have to wait to see what happens. Most payday loan companies will file. Good luck as you continue this process..believe it or not, it'll be done before you know it.
      Filed Chapter 13 - 07/20/12
      Discharged 8/2/16


        Update: The last date to file a claim was last week on Feb 14th. My plan base was $58K, only $26,145 in filed claims. Most payday loan companies did not file a claim as well as several of my accounts that were in medical collections. I'm hoping this means that I will be paying this off in about 30 months rather than 60.


          The 341s should be and usually are uneventful. We had to correct something on our petition and the trustee pushed back on something that our attorney was able to explain to the trustee's satisfaction. You may get questions about something on your petition, but if you have your attorney with you, it should go well. That's great when some of your creditors don't file POCs. Hope that time comes sooner for you than expected. Good luck!
          Filed Ch 13 November 2013, discharged March 2019
          Credit Karma FICO scores 3 months post-discharge:
          715 Trans Union/726 Equifax


            Congratulations on your 341. This is a very nerve-wracking process under the best of conditions.
            When I had my 341 almost 2 years ago, my attorney had mistakenly filed with my former address on the paperwork. The Trustee asked me my current address. When that error became apparent, it went downhill from there. My attorney had made other errors on my paperwork as well. The hearing was continued out two months so my attorney could get his act together. By the way, my attorney told me the monthly plan payment would be $400. I have been paying $720 per month for almost two years.
            The miracle here, was my case was finally confirmed 4 months after the first 341, and only 4 of my creditors ended up filing claims. My plan is a 100% plan.


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