Hi All,
Me and the wife had our 341 this morning. We were the first ones to go. Pretty simple. As others have said name, rank and serial number. We answered most questions yes or no.
The trustee wanted a few simple things and some corrections to the plan. She wanted a month by month breakdown of my wifes consulting income for last year. A whopping total of $2100. The cars and town taxes we have paid this year were being applied to our arrears. Which they should not be they are in our payment plan. The trustee and my attorney both said they will get that fixed. She wanted the payments cram down of the John Deere given to her each month. So, our $320 plan for 60 months will now be $610. If I heard her right. Did not want to ask to many questions specifically. Didn't want to piss her off and my attorney will answer them later.
I thought I heard her say she wanted our federal tax refund. Which will be about $12K. Then she said to my attorney oh good you broke it down monthly on schedule? Does that mean since my attorney has used it as income to make the plan work monthly she will not take it? If she did how can it be income to make the plan work? There was no mention of our state tax return.
Overall it was pretty simple about 20 minutes tops. I do go to Newark to see hockey games and take the train from there to Madison Squre Garden beats driving in. Its a pretty tricky city to drive around in if you are not familiar.
Anyway, I'm learning that this is a slow process. Just keep paying the trustee, the house, the taxes and the cars and every thing should chug along. We were suprised the trustee never mentioned the 75K 2nd mortgage lien strip. Though she did say she had the appraisal. Well, shortly I will speak with my attorney and get my questions answered. Especially about the tax return.
If you guys have any questions I would be more than happy to answer them.
Thanks
Me and the wife had our 341 this morning. We were the first ones to go. Pretty simple. As others have said name, rank and serial number. We answered most questions yes or no.
The trustee wanted a few simple things and some corrections to the plan. She wanted a month by month breakdown of my wifes consulting income for last year. A whopping total of $2100. The cars and town taxes we have paid this year were being applied to our arrears. Which they should not be they are in our payment plan. The trustee and my attorney both said they will get that fixed. She wanted the payments cram down of the John Deere given to her each month. So, our $320 plan for 60 months will now be $610. If I heard her right. Did not want to ask to many questions specifically. Didn't want to piss her off and my attorney will answer them later.
I thought I heard her say she wanted our federal tax refund. Which will be about $12K. Then she said to my attorney oh good you broke it down monthly on schedule? Does that mean since my attorney has used it as income to make the plan work monthly she will not take it? If she did how can it be income to make the plan work? There was no mention of our state tax return.
Overall it was pretty simple about 20 minutes tops. I do go to Newark to see hockey games and take the train from there to Madison Squre Garden beats driving in. Its a pretty tricky city to drive around in if you are not familiar.
Anyway, I'm learning that this is a slow process. Just keep paying the trustee, the house, the taxes and the cars and every thing should chug along. We were suprised the trustee never mentioned the 75K 2nd mortgage lien strip. Though she did say she had the appraisal. Well, shortly I will speak with my attorney and get my questions answered. Especially about the tax return.
If you guys have any questions I would be more than happy to answer them.
Thanks
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