Questions for those who have done it

[hudriverguy]

Okay, I sucessfully had my 341 last week. Lasted five minutes (have a
wonderful attorney who is partner in an all bankruptcy practice). There
were no creditors on hand. But what i am wondering isn't it more likely
to have problems now until the confirmation hearing? This would be
the period of being accused of preferential payment, CAdv less than 70 days
etc?

Also, what is the confirmation for. I have started paying 70+30L+10 TF
or 110 per month. What else do they do at this meeting? Is it quick and
painless? My 110 is for 36 months. I wanted to keep a non financed car and
they only income the counted on was a disabiliy of 5200/year? Anyone
see anything else at this time. Thanks.

River

[lrprn]

But what i am wondering isn't it more likely
to have problems now until the confirmation hearing?

Yes, any objections to your plan from creditors or your trustee will be filed with the court before your confirmation date (see my signature - we had three ). Don't panic....it's actually fairly common for Ch 13 plans to have at least one objection to deal with. Your lawyer will work with the creditor or your trustee to resolve the objection(s) before your confirmation date.

What else do they do at this meeting? Is it quick and painless?

First of all, only your lawyer has to attend the confirmation hearing. Your lawyer will very likely know before the confirmation hearing whether your plan will be confirmed or not and share that with you.

If your plan is confirmed at the confirmation hearing, then you're good to go until your plan ends or something unexpected and long-lasting happens before the end of your plan and need to amend it.

If your plan is not confirmed at the confirmation hearing (and this is rare), then your lawyer will continue to work to resolve the objection(s). If they can't be resolved, then your lawyer and the opposing lawyer each file a brief with the court supporting their position on the situation that can't be resolved. The local bk court judge reviews the brief and issues a decision. After that, your plan will be confirmed, but depending on the judge's ruling, it may be at a different payment level (higher or lower) than what was originally proposed. Keep in mind that getting to the point where the judge has to get involved is very rare.

My 110 is for 36 months.

You must have been under your state's median income for family size then. Those are the only filers who get three year plans these days.

I wanted to keep a non financed car and they only income the counted on was a disabiliy of 5200/year?

I'm not sure what you are asking here. Can you give us a little more detail?

Anyone see anything else at this time.

Without knowing a lot more about the details of your finances and plan, it's hard to say what you might expect. Did your lawyer (glad you have one you like) have any concerns about your plan?