When do you find out if you pass the trustees??

[dragonnfly]

Hello, We filed ch 7 04/08/2008 over the median. He said we looked better on paper the some that he had go thru as 7 but it was all the luck of the draw on what trustee we got as to if we had any problems. According to my attorney we got a easy going local trustee and I think I found the name of our US trustee on PACER. I havent asked about her yet.

Anyways my question is when will we know if there is a problem? Before our 341? after our 341? its only been a week and a half since we filed. Is there anyone else that was slightly over the median that can share their experiences? I am getting tired of checking PACER everyday and its only been a week and a half since we filed. Our 341 is scheduled for June 2. Thanks in advance.

[HHM]

What exactly are you worried about?

It is not the BK trustee you really need to worry about, it is the US trustee.

All the BK trustee is look for non-exempt assets that can be taken to pay creditors.

The US trustee is the one that oversees whether you can stay a chapter 7 or get forced into a chapter 13.

Generally, you will know how your case is going to go AFTER the 341 meeting.

[dragonnfly]

Thats what I meant was either trustee. I didn't know if you got to the 341 it generally meant you were going to be in the clear or not. I wish our BK was cut and dry but its not, the attorney wouldn't even give us a true idea if we would be OK as a 7 or not for sure just because of the unpredictability of the trustees. So the stress is making my house not as relaxed as I hoped it would be after we filed. It is nice not to have the phone ringing all the time though.

[dragonnfly]

I didnt answer the only thing you asked me...... I am afraid of converting to a 13. We can back everything thats in our BK. vehicles is where I am worried the most about. We have 3 and one is our daughters she uses for school. We are surrendering one and need to purchase a replacement so we will be back to 3. Its just that were over the median is whats making it so stressful.

[laurannm]

When you say your BK isn't cut and try, is your case complex, or are you saying it isn't cut & dry because you are over the median?

[dragonnfly]

I dont think its cut and dry because we are over the median.

[getouttadebt]

Here's what you need to look for -- get a PACER account if you don't have one yet. Prepare for your 341 with the local Chapter 7 trustee. You should be feeling pretty good after that meeing. But, since you are over the median, look out for a 10-day letter from the US Trustee -- it will be posted to PACER about 10 days after the 341 and it's called Statement of Presumed Abuse. It's normally filed by an attorney working for the US Trustee -- part of the Office of the US Trustee -- otherwise known as OUST. If you don't get one of these letters, consider yourself fortunate and that may indicate a hands-off approach on your case by the UST.

We are over the median significantly and we got flagged on that 10-day Statement of Presumed Abuse. If you get one of these it will almost guarantee that within 30 days the US Trustee with file a Motion to Dismiss or Convert. We are fighting the motion because the attorney for the US Trustee has made a bunch of errors in what he is calling "corrections to the Debtors Means Test Calculations." We passed the means test and we're also negative on Schedule J, but the US Trustee is making some mathematical assumptions with our niumbers and he is categorically incorrect in my attorney's opinion. We have a hearing date of 5/20 so we'll see what happens...

Good luck to you, but don't worry until about 10 days after the 341 -- then check PACER for the next few days to see if he has filed the Statement of Presumed Abuse. In our case, it was not actually filed until 11 days after the 341.

getouttadebt