question about 341 hearing

[khennion]

after this "the waiting period"
what can happen, creditors can dispute your claim?
or your bankruptcy can be accepted or denied?
thanks

[FoolAndHisMoney]

after this "the waiting period"
what can happen, creditors can dispute your claim?
or your bankruptcy can be accepted or denied?
thanks

Providing there was no fraud, IE hiding assets, lying, etc. the only things that can happen are the US Trustee or any creditor may feel some of your expenses are too inflated, so they can file a motion to have your case converted to a chapter 13 and pay back a portion in a 5 year plan. The other is if a creditor feels you made major charges or cash advances recently they would notify your lawyer that they will dispute your discharge for that portion of the debt and depending upon if they have a case or not you can negotiate favorable terms. Only serious fraud can deny your entire discharge and your debts will follow you like a shadow forever.

[khennion]

thanks that clears up alot...
i was wondering why people were waiting the 60 days in agony?
thanks for the help

learning alot with alot more to learn

[FoolAndHisMoney]

Other things to worry about is if you are a home owner sometimes the chapter 7 trustee may feel that your property is undervalued and may want it appraised. If you have equity higher then your states allowed exemption then they can dispute that. Or there could be an unperfected lien issue on a mobile home or car. Seems rare, but these can happen.

[khennion]

do not own a home...
i do have a car lease though

[FilingOnMyOwn]

thanks that clears up alot...
i was wondering why people were waiting the 60 days in agony?
thanks for the help

learning alot with alot more to learn

Because its not over til its over. Chances are it will be fine, but its still a stressful time and everyone wants to not worry about it anymore.