341 Today- Some Concerns

[CoachK]

Well, today was the day and there were a lot of sleepless nights for nothing I guess. The process is much easier than I ever anticipated. The trustee treated us with great respect, and he was very polite to us. He even wished us a Happy New Year when we finished. The entire process asted about 5-7 minutes. He asked all of the usual questions, and then he picked a few things off of our filing to ask. He questioned some rental income (we rent out a portion of our home). He also questioned my transportation--$550 per month. I explained that I have a long commute, and he seemed satisfied. My attorney thought for sure that he would question the $800 for food and other large expenses, but he did not. He also thought that I would get grilled on how I accumulated so much cc debt, but again not a word about it. He did ask us to provide a copy of our 2004 Tax returns and a copy of my 403B (401K for teachers). My attorney explained to me that there is a case in PA right now where a trustee claimed that a 403B is an asset, and the case is currently being appealed in the circuit court. My attorney feels that I might have to give up the $14K in my 403B. I am not crazy about doing that, but it is a small proce to pay to have a successful Ch.7 and rid myself of nearly 100K worth a CC debt.

[bkfiler]

great to hear its done. went smooth as expected. nice.

i hope you can keep some of the 403B whatever that is. maybe aaart has some ideas about it.

[StaciMM]

Congrats on making it to this step. Phase 1 hopefully is behind you. Don't be alarmed-but there is still a (small) chance that you'll have to support your expenses to the US Trustee. It seems your attorney is prepared though, so even if that happens-you should be ok!