In a nutshell it was VERY nerve-racking... We watched several cases before ours and the trustee was grilling some of these people with questions. Some of the cases lasted 8-10 minutes and at the end of some of these cases the trustee said something like "we will have to meet again and take a deeper look into this case" (I guess these people were in for another meeting?) During some of these cases the trustee was asking questions like "looks like you took 300K out of your house 1 year ago and what did you do with it"? "Where is the money?"
How can you spend 300k in 1 year?
After about 35 minutes later I asked my lawyer if I could step out and use the bathroom. I left my wife and lawyer alone for about 5 minutes....
During those 5 minutes we get called up to the table to take the oath and begin answering the trustees questions... and where am I? In the bathroom!!!!!
I come back to the room and my wife tells me we were called up already!!!! I thought we would have to come back another day....
The trustee called someone else up in the meantime.....
Anyway it was our turn (and I was back from the bathroom) again and the questions were all about facts... The trustee was all about FACTS. and straight to the point....... I was first asked how did we incur so much debt? I literally froze up because I could have talked for hours on this one question - so my wife took over....then I took over and explained how we got into a bad loan that was not explained to us, APR going up, ect....Then the trustee asked a couple other basic questions... and that was it....the trustee then said something like "meeting has concluded and is dismissed".
I asked my lawyer what this meant and she said it's a good thing. She smiled and said we just have to wait 2 months now.
Pretty much what I expected but was very nervous due to the courtroom like setting - and very very official atmoshpere....
But 99% of my nervousness was because of all the other people in the room watching. (i.e., stage fright)
I would suggest to anyone who goes through this is to tell the truth and be 100% honest and upfront about everything.
For some reason I feel a lot of relief right now and feel a big weight has been lifted......I guess we will have to wait now?
thanks, techno
How can you spend 300k in 1 year?
After about 35 minutes later I asked my lawyer if I could step out and use the bathroom. I left my wife and lawyer alone for about 5 minutes....
During those 5 minutes we get called up to the table to take the oath and begin answering the trustees questions... and where am I? In the bathroom!!!!!
I come back to the room and my wife tells me we were called up already!!!! I thought we would have to come back another day....
The trustee called someone else up in the meantime.....
Anyway it was our turn (and I was back from the bathroom) again and the questions were all about facts... The trustee was all about FACTS. and straight to the point....... I was first asked how did we incur so much debt? I literally froze up because I could have talked for hours on this one question - so my wife took over....then I took over and explained how we got into a bad loan that was not explained to us, APR going up, ect....Then the trustee asked a couple other basic questions... and that was it....the trustee then said something like "meeting has concluded and is dismissed".
I asked my lawyer what this meant and she said it's a good thing. She smiled and said we just have to wait 2 months now.
Pretty much what I expected but was very nervous due to the courtroom like setting - and very very official atmoshpere....
But 99% of my nervousness was because of all the other people in the room watching. (i.e., stage fright)
I would suggest to anyone who goes through this is to tell the truth and be 100% honest and upfront about everything.
For some reason I feel a lot of relief right now and feel a big weight has been lifted......I guess we will have to wait now?
thanks, techno
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