We had our 341 today. We got there early, so we sat through about 7 or 8 cases before ours. They all had something out of the ordinary, so they were a little longer (8 minutes instead of 3 or 4).
When we were finally called, trustee went through the standard questions. He did ask us if we thought we would make a profit if we sold our business. I said we would be lucky if we broke even, which made him laugh. He did mention that our car is now paid off, so we would need to adjust our plan for that $600 a month we are no longer paying. He told our attorney to up our food, entertain, miscellaneous and that should take care of that money. Then told us good luck and sent us on our way.
Several people in front of us owned businesses and he was really probing with them. He only asked us the one question. But, we had appraisals done and property valuations done before hand, so our attorney believes that is why it was so pain free.
So, we went and had a margarita for lunch and I feel so much better.
Good luck everybody.
When we were finally called, trustee went through the standard questions. He did ask us if we thought we would make a profit if we sold our business. I said we would be lucky if we broke even, which made him laugh. He did mention that our car is now paid off, so we would need to adjust our plan for that $600 a month we are no longer paying. He told our attorney to up our food, entertain, miscellaneous and that should take care of that money. Then told us good luck and sent us on our way.
Several people in front of us owned businesses and he was really probing with them. He only asked us the one question. But, we had appraisals done and property valuations done before hand, so our attorney believes that is why it was so pain free.
So, we went and had a margarita for lunch and I feel so much better.
Good luck everybody.
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