Creditors Meeting question

[Andyman]

I have a Chase card at $9K, a BofA card at $9K, an HSBS card at $650 and a lease on some credit card processing equipment. At the 341 meeting, do you think any of these folks will show up with thier hand out?

Thanks!

Andy

[PoorGrammyinBK7]

Extremely doubtful that any of these would show up.

[Andyman]

Extremely doubtful that any of these would show up.

Good to know. The leasing company...I sent them a ltter last week telling them I was filing and for them to contact my attorney if they had any questions. I also asked them to give me the address to send the equipment back to as I have gotten some new equipment for free. I got a letter today from them saying they got my letter and that because I had a "noncancelable lease" I had three options..pay off the lease, pay off the lease and buy the equipment, find someone to assume the lease. Can't wait to take the letter to my attorney next week!

[liz417]

Good to know. The leasing company...I sent them a ltter last week telling them I was filing and for them to contact my attorney if they had any questions. I also asked them to give me the address to send the equipment back to as I have gotten some new equipment for free. I got a letter today from them saying they got my letter and that because I had a "noncancelable lease" I had three options..pay off the lease, pay off the lease and buy the equipment, find someone to assume the lease. Can't wait to take the letter to my attorney next week!

HAHA! They "forgot" one more option you have: ADD THEM TO YOUR CREDIT MATRIX....

[Andyman]

HAHA! They "forgot" one more option you have: ADD THEM TO YOUR CREDIT MATRIX....

hahahah...tempted to send them another letter saying "Congrats, you've been added to my Credit Matrix"!!!

[kornellred]

At my 341 meeting, there was a person who addressed the rather large group waiting for their turn with the trustee (and his helpers - there were more than 100 people scheduled that day!). He explained that the 341(a) is called "the meeting of the creditors" but there was less than a slim chance of a creditor actually showing up. Why? Most creditors know that there is very little they can do to change a situation. There is no money to be made by attending.

[BigJohn]

Good to know. The leasing company...I sent them a ltter last week telling them I was filing and for them to contact my attorney if they had any questions. I also asked them to give me the address to send the equipment back to as I have gotten some new equipment for free. I got a letter today from them saying they got my letter and that because I had a "noncancelable lease" I had three options..pay off the lease, pay off the lease and buy the equipment, find someone to assume the lease. Can't wait to take the letter to my attorney next week!

I had a lease like that for equipment. I broke the lease and they tried their best to get money out of me. An employee had signed the lease, not me. They finally sent the mess to a collection agency in which the collection agency went after the employee. After two letters from the employee to the collection agency, they stopped trying to collect.

[ansky0007]

At my 341 meeting, there was a person who addressed the rather large group waiting for their turn with the trustee (and his helpers - there were more than 100 people scheduled that day!). He explained that the 341(a) is called "the meeting of the creditors" but there was less than a slim chance of a creditor actually showing up. Why? Most creditors know that there is very little they can do to change a situation. There is no money to be made by attending.

I owe $350k in CC Debt... Hope none of my creditors show up. For that amount of debt I am thinking one might show up. Top company Amex is for $190k alone so they might have some interest in attending. At 60 days past due they attempted to settle for $40k so I guess they dont think its too promising on them getting anything.