Getting ready to File and have a few questions....

[momindebt]

Hello, all...

1) Will be filing soon: what records do we have to show at 341 meeting? We are spending very little but I'm so nervous about screwing something up....doesn't help that the holidays are around the corner.

2) How long in NY to go from filing to 341 meeting? I just want this settled so I can sleep again!

3) When is it okay to tell creditors you are filing bankcruptcy? We know they will keep calling but maybe they'll not call us 15 times a day (work, cell, home). I'm also worried about them calling my relatives since we aren't open at this point to telling all of them.

4) In NY, how much money can you have in your checking account at the 341 meeting?

5) Our attorney is saying we have to have our wages garnished, and both of us work in very small companies and hate that....has anyone had any other option work out??

Thank you all!

[free2breathe]

Welcome to the forums. You'll find a lot of great information and support here.

1) Will be filing soon: what records do we have to show at 341 meeting? We are spending very little but I'm so nervous about screwing something up....doesn't help that the holidays are around the corner. Identification and social security card for sure, and it depends on the trustee, but usually bank statements and the last couple years of tax returns.

2) How long in NY to go from filing to 341 meeting? I just want this settled so I can sleep again! I'm not in NY, but the 341 is usually scheduled 20-40 days after the filing

3) When is it okay to tell creditors you are filing bankcruptcy? We know they will keep calling but maybe they'll not call us 15 times a day (work, cell, home). I'm also worried about them calling my relatives since we aren't open at this point to telling all of them. You don't want to tell your creditors until you have filed and have an attorney and case number to refer them to. You can, however, send them letters asking them not to contact you by phone and that you do not want them to call your relatives. Send those letters return receipt so you have proof.

I'm not sure about exemptions in NY, so someone else will have to answer that one for you. Same with the wages, as I haven't filed 13 and haven't really researched it much.

[michaela]

I live in NY Long Island, filed sept 2 341 on October 17 and confirmation scheduled for nov 19. We dont have anything garnished from our paystubs we mail in the trustee payments. Anymore questions feel free to ask

[momindebt]

Thank you both for your replies. Our timing couldn't be more worse with Christmas but we've already explained to our pre-teens our predicament, and they seem to understand as best as they can. Our attorney said we'd have to have one our our wages garnished, which I hate SO much since we both work in small businesses in small towns. This is embarassing enough without wearing a red scarlet letter.

How long before creditors start calling relatives? What are typical things to get questioned in a 341? How frequently do trustees adjust budgets?

[debee]

posted a link to the 341 sticky, but it's chapter 7 questions. sorry.

the only helpful thing I can think of for you Mom is for you to see if you can get a free consult with a different attorney and see if they are telling you the same thing re: garnish. I have also lived small town and know that it can get embarrassing when people know private things.

I also think that being the first person you know to go bk can be a leadership opportunity if you remember that it's a financial planning decision and not a moral failing.

[lrprn]

...we've already explained to our pre-teens our predicament, and they seem to understand as best as they can.

Good for you that you were honest with your children about the family's financial troubles. They are going to learn a very important lesson about honestly and effectively dealing with financial problems that aren't going to go away. They also learn that you will all survive this and even thrive as a family as you set a budget and learn to live within it.

Our attorney said we'd have to have one our our wages garnished, which I hate SO much since we both work in small businesses in small towns. This is embarassing enough without wearing a red scarlet letter.

Hard, yes. But you will find out who your true friends are as they stand by you.

How long before creditors start calling relatives?

A very few creditors and collectors will call family and your workplace if they cannot find you. Put a message on your phone's answering machine or cellphones that clearly identifies you, and also confirm it is you when you choose to answer the phone (you don't have to say anything else but "we can't pay right now' and quietly hang up).

Ask your lawyer, but most will tell you in almost every circumstance that it's fine to tell creditors you are planning to file soon - just don't expect the calls to stop until you do file. Unless you don't intend to file for months and months, creditors won't head to court quickly to get blood from a turnip. Some bk lawyers will tell you to give their name and phone # to creditors before you file to take some of the pressure off from the calls, so ask yours if that's ok.

Also keep in mind that the purpose of the sleazy creditors and collectors who call relatives and your workplace is purely to shame you into giving them money. You don't have to cave to that kind of extortion (and that's exactly what that is). If the creditor or collector calls your workplace, say you are not allowed to receive personal calls at work and not to call you there any longer. If they call relatives, tell your relatives just to hang up.

We have a lot of power when creditors and collectors call if we have the courage to use it. Answer with your name to identify yourself, say you can't pay now, and quietly hang up the phone. For the rest of that day, don't answer that number or "private caller" when it appears on your phone.

You don't have to answer EVER if you don't want to. It's really up to you how to handle the calls. We've all dealt with them. Search the forum for the many threads that give great advice for what to do when the collection calls are at their worst.

What are typical things to get questioned in a 341?

The questions are similar for Ch 7 and Ch 13 341s. The best source of what to expect from your trustee is your own lawyer. Here's a list of questions that may be asked during 341s - http://www.justice.gov/ust/eo/privat...QsCh13AppC.htm

How frequently do trustees adjust budgets?

In the real Ch 13 world with an honest filing, trustees don't have the time nor the inclination to care one bit about your personal budget. Every Ch 13 trustee has hundreds of cases to follow - your case is a tiny drop in their bucket. You will control your budget.

After confirmation as long as you can make your payment without fail on time, you won't hear from your trustee. Only if your financial circumstances change significantly will you have any direct connection to your trustee after confirmation until the end of your case, and that will happen through your lawyer. No worries