341 Tomorrow... Expect Lots of Objections

[ansky0007]

Well, 341 is tomorrow and lawyer which was once feeling really good about is starting to look ugly. We owe over $300k in unsecured and he has already received letters from some creditors whom I owe alot of money to. They are scheduling formal examinations on us in January.. I think I might need a new lawyer to handle these examinations since I dont think my current lawyer is handling these with our best interest.. They creditors want all financial data for 2 years, and income tax returns for 3 years.

[JRScott]

Good Luck to you

I'll keep you in my thoughts.

The request for info seems normal though.

[ansky0007]

So far 2 creditors have already filed objections and we did not even have the 341 yet... We have received a motion for examination pursuant to FRBP 2004? Anyone get one of these?

[allavdj]

Well, are their objections valid? If you haven't been trying to "work the system" then you probably have nothing to worry about. If you owed me $300k I'd probably object too.

[Lajazz947]

So far 2 creditors have already filed objections and we did not even have the 341 yet... We have received a motion for examination pursuant to FRBP 2004? Anyone get one of these?

To what do you attribute these examinations?

I have about $200K in unsecured debt.

Did you use the cards or take cash advances in a time frame that might prompt this?

I have not used mine for nearly 1 year and had a decrease in income but now I get worried.

I had been making payments on all the cards until my business income was interrupted for three months in early '08 and then they refused to work out what I could afford.

Defintely did not abuse the system but the headache that I think is coming makes we want to prepare even more.

Do these objections show up on Pacer?

My attorney is out of town until 1/07/09 and my 341 is on 1/12/09.

Thanks

[ansky0007]

To what do you attribute these examinations?

I have about $200K in unsecured debt.

Did you use the cards or take cash advances in a time frame that might prompt this?

I have not used mine for nearly 1 year and had a decrease in income but now I get worried.

I had been making payments on all the cards until my business income was interrupted for three months in early '08 and then they refused to work out what I could afford.

Defintely did not abuse the system but the headache that I think is coming makes we want to prepare even more.

Do these objections show up on Pacer?

My attorney is out of town until 1/07/09 and my 341 is on 1/12/09.

Thanks

No, They have not showed on pacer yet but my lawyer has sent me their notices that they received. I totally blame my lawyer for this and I believe that if I waited longer I would not have these issues.

I have not used many cards in a very long time. I did however make one balance transfer from one credit card to another 71 days prior to filing to save on interest. Lawyer told me we had no issue filing on the 71st day since I was past the 70 day presumption and now the card company is trying to state that although my bill shows the transfer on the 71st date that they are filing it did not clear their bank until the next business day so its really on the 70th day. Instead of my lawyer trying to fight this he is telling me we should settle with them. This is why I think I need a new lawyer. I dont think he is competent enough to try to fight for us.

Here is what happened... I owed this card company $30k (Bank 1), I had to make a payment to another creditor (Bank 2) for $30k so I paid (Bank 1) 30k to pay of the balance and then used their balance transfer check to pay (Bank 2) and essentially the balance I owed (Bank 1) never changed. I was told not to worry about this transfer since all I essentially did was lower the interest on the money I owed (Bank 1) since in the beginning of the month I owed them $30k and at the end of the month I still owed them $30k. Lawyer said no problem but just in case we will file on the 71st day and now he is telling me we should try to settle for around $5k to $10K because we filed too soon. I told him he was crazy and lots of other things I wont repeat here.

I am still waiting on the details for the other objection we just received on Friday and I am waiting for the notice.

[Lajazz947]

No, They have not showed on pacer yet but my lawyer has sent me their notices that they received. I totally blame my lawyer for this and I believe that if I waited longer I would not have these issues.

I have not used many cards in a very long time. I did however make one balance transfer from one credit card to another 71 days prior to filing to save on interest. Lawyer told me we had no issue filing on the 71st day since I was past the 70 day presumption and now the card company is trying to state that although my bill shows the transfer on the 71st date that they are filing it did not clear their bank until the next business day so its really on the 70th day. Instead of my lawyer trying to fight this he is telling me we should settle with them. This is why I think I need a new lawyer. I dont think he is competent enough to try to fight for us.

Here is what happened... I owed this card company $30k (Bank 1), I had to make a payment to another creditor (Bank 2) for $30k so I paid (Bank 1) 30k to pay of the balance and then used their balance transfer check to pay (Bank 2) and essentially the balance I owed (Bank 1) never changed. I was told not to worry about this transfer since all I essentially did was lower the interest on the money I owed (Bank 1) since in the beginning of the month I owed them $30k and at the end of the month I still owed them $30k. Lawyer said no problem but just in case we will file on the 71st day and now he is telling me we should try to settle for around $5k to $10K because we filed too soon. I told him he was crazy and lots of other things I wont repeat here.

I am still waiting on the details for the other objection we just received on Friday and I am waiting for the notice.

Wow, talk about technicalities. I agree, your attorney should fight for you.

I guess my attorney must be confident enough though as he said we could face problems but he thinks we have addressed them all.

He's a mean SOB which is good for me.

Please keep me posted and good luck. I would like to know how it all turns out.