341 Today in Ohio...
Well, finally had the 341 today.
I can't say it went perfect, but it went a lot better than expected. Recall from my previous posts that combined, my wife and I have high income, and have sold a big home to a relative within one year of filing for FMV, and are thus paying big rent (in the several thousands).
Besides the usual questions posted here, the trustee wanted to hear more about the home transfer. He slowed down his questioning and asked a lot of detail when the home came up. I told him the absolute truth, which is what I suggest you all do, too. Once he realized the home transferred for FMV, and that it was overencumbered with three mortgages, he moved on.
The only hitch was that he focused in like a laser on my wife's very used old car. We thought it couldnt' be worth more than the exemption, but evidently it is a popular used car - and it is worth more. Funny, the paint is faded, it has lots of rattles and noises, and has 130K miles on it. But hey, if they want it - they can have it I guess. Or, my attorney says we can buy it back for assessed value minus exemption.
Anyway, it's certainly not over yet, and we were surprised by trustee's interest in the car, but our attorney says we're likely just about done.
If you're interested, the whole deposition (that's what it is - a sworn deposition) lasted for us just under 20 minutes. We were the first to go. The room was *packed* with people.
A word of advice I have for all of you - especially you pro se filers without an attorney - is to keep your mouth closed. I saw people all around "fretting" and asking all kinds of questions. It seems like that's the folks who get into trouble with the trustee. Trustee will ask you direct questions, quickly. Give him/her direct and truthful answers, quickly. And don't hem and haw like you're searching for the truth. Watch the trial portion of Law & Order a few hundred times to prepare, if you need to. I'm not saying this because we have anything to hide, or I think anyone here on this board has anything to hide - its just that everything should be correct and in yor filing. No need to ask belaboring questions - that will just raise suspicion. (I'm giving this advice because I don't recall seeing it here yet.)
For us, now, it's waiting to see if anything else will pop up post-341 deposition, dealing with my wife's car, and then on to dealing with all of the IRS bills that will not be discharged via the bankruptcy...
Thanks all for your help. Good luck!
I can't say it went perfect, but it went a lot better than expected. Recall from my previous posts that combined, my wife and I have high income, and have sold a big home to a relative within one year of filing for FMV, and are thus paying big rent (in the several thousands).
Besides the usual questions posted here, the trustee wanted to hear more about the home transfer. He slowed down his questioning and asked a lot of detail when the home came up. I told him the absolute truth, which is what I suggest you all do, too. Once he realized the home transferred for FMV, and that it was overencumbered with three mortgages, he moved on.
The only hitch was that he focused in like a laser on my wife's very used old car. We thought it couldnt' be worth more than the exemption, but evidently it is a popular used car - and it is worth more. Funny, the paint is faded, it has lots of rattles and noises, and has 130K miles on it. But hey, if they want it - they can have it I guess. Or, my attorney says we can buy it back for assessed value minus exemption.
Anyway, it's certainly not over yet, and we were surprised by trustee's interest in the car, but our attorney says we're likely just about done.
If you're interested, the whole deposition (that's what it is - a sworn deposition) lasted for us just under 20 minutes. We were the first to go. The room was *packed* with people.
A word of advice I have for all of you - especially you pro se filers without an attorney - is to keep your mouth closed. I saw people all around "fretting" and asking all kinds of questions. It seems like that's the folks who get into trouble with the trustee. Trustee will ask you direct questions, quickly. Give him/her direct and truthful answers, quickly. And don't hem and haw like you're searching for the truth. Watch the trial portion of Law & Order a few hundred times to prepare, if you need to. I'm not saying this because we have anything to hide, or I think anyone here on this board has anything to hide - its just that everything should be correct and in yor filing. No need to ask belaboring questions - that will just raise suspicion. (I'm giving this advice because I don't recall seeing it here yet.)
For us, now, it's waiting to see if anything else will pop up post-341 deposition, dealing with my wife's car, and then on to dealing with all of the IRS bills that will not be discharged via the bankruptcy...
Thanks all for your help. Good luck!
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