341 is Complete - Next Step?

[danas15146]

Our 341 is done and went smoothly. No creditors showed up and only one sent a letter in. There was some slight confusion because of a buy out (Chase bought Circuit City's credit department - we gave it as chase - they turned in as circuit city) and that was the only question the trustee asked us. He said that he will move to confirm our plan and our wage attachments are complete - so it is just a matter of getting through the next five years.

They did not ask for any additional info as far as pay stubs or bank statements. Also - they did not say anything to us about submitting our tax return each year or reporting windfalls, etc. Is this something that we should get notice of in the mail?

Also - do my husband and I need to attend the confirmation hearing and how long does it normally take before your plan is confirmed. We filed on 4/6/06, all schedules, etc. were in on 5/1/06 (attorney got an extension) and our 341 was today 6/5/06.

Thanks everyone for all of the help and support. I don't post much - but I read regularly and it has been a tremendous help to be.

Dana

[Jman30]

They did not ask for any additional info as far as pay stubs or bank statements. Also - they did not say anything to us about submitting our tax return each year or reporting windfalls, etc. Is this something that we should get notice of in the mail?

Also - do my husband and I need to attend the confirmation hearing and how long does it normally take before your plan is confirmed.



Dana

Dana, Congratulations! I am happy to hear the 341 meeting went well! I was so nervous about mine that I didn't sleep for weeks. Then the day came and I was in and out in 20 minutes. I was more mad that I lost all that sleep than the fact that I was now bankrupt!!!

Let me address your first question. If they did not say anything about tax returns in your 341, then you don't have to worry. When I filed, I asked the same question and my lawyer said that if they don't mention it, then you don't need to send them copies every year. I can't speak for all Trustees, but I've filed taxes twice now in my Chapter 13 and never had to present a tax return to them. You can check with your lawyer, but you shouldn't get anything in the mail and unless the specifically told you to present your tax return each year, you should be all set.

Secondly, it took my plan 7 months to be confirmed. I filed in Dec 2004 and it was confirmed in June 2005. I think mine took a little longer because we had to modify the plan twice based on some issues that arose, but I think they take at least a few months in most respects.

[aa06a47]

Our 341 is done and went smoothly. No creditors showed up and only one sent a letter in. There was some slight confusion because of a buy out (Chase bought Circuit City's credit department - we gave it as chase - they turned in as circuit city) and that was the only question the trustee asked us. He said that he will move to confirm our plan and our wage attachments are complete - so it is just a matter of getting through the next five years.

They did not ask for any additional info as far as pay stubs or bank statements. Also - they did not say anything to us about submitting our tax return each year or reporting windfalls, etc. Is this something that we should get notice of in the mail?

Also - do my husband and I need to attend the confirmation hearing and how long does it normally take before your plan is confirmed. We filed on 4/6/06, all schedules, etc. were in on 5/1/06 (attorney got an extension) and our 341 was today 6/5/06.

Thanks everyone for all of the help and support. I don't post much - but I read regularly and it has been a tremendous help to be.

Dana

Congratulations, sounds like they thought everything in your plan was good, and confirmation should be smooth sailing. It depends on your district, but generally the attorney attends the confirmation hearing. I think only pro-se filers have to attend the confirmation hearing. Just make sure you keep sending payments in until it starts coming out of your check.

[danas15146]

We actually lucked out in that regard too. Sent in the first monthly payment (May 4) and then our wage attachments took effect at the end of May so we didn't have to get a money order or anything for June.

Everything seems to be going well and I am just waiting for something dreadful to happen. I really thought that we would get some hassle because I had been using my cards for groceries, gas, clothing up until two weeks before filing - but it hasn't even been questioned.

[aa06a47]

I had to do the same thing danas (use credit cards the last month before filing), but it was only for food and a tank of gas. They could have come back for it I'm sure, but it was pocket change compared to the entire balance...

[Jman30]

Everything seems to be going well and I am just waiting for something dreadful to happen. I really thought that we would get some hassle because I had been using my cards for groceries, gas, clothing up until two weeks before filing - but it hasn't even been questioned.

Dana, there will be good months and bad months. Sometimes, my monthly expenses just plain exceed what my income is after the Chapter 13 payment. Some months, everything goes great and I even seem to be able to stash away a couple of hundred dollars or so.

Just remember....through good months and bad, every month is one month closer to the end!