Well, I had my 341 meeting today and thought I'd write about it for any who might be interested. 
I arrived 2 1/2 hours early, to watch what happened with other cases. It was an interesting time. Most cases took 2-5 minutes at the most. The basic questions were as follows:
- have you ever filed bankruptcy?
- anyone owe you money that is collectable? (for me, my ex owes back child support, but lost his job last June so the money is not collectable -- when asked, I said 'my ex owes back child support' and the trustee interrupted and asked 'is it collectable?', I said no, and we moved on from there!).
- any injuries/accidents where someone else is liable? (looking for a payday for you)
- any recent deaths in your family? Any anticipated deaths in the near future? (looking for inheritance)
- have you ever received an inheritance? If so, when? How much? What did you do with the money? (the trustee asked this as an all-emcompassing question, as in EVER gotten an inheritance -- my lawyer said this is one of her particular quirks).
- have you made any purchases over $4000 in the past 2 years (*or 4 years)?
- when did you purchase your home? How much was your down payment? Where did that money come from?
- any winning lottery tickets?
- do you expect your income to be about the same this year as the last?
- do you own any property other than your home? What, where, what's it worth, when did you buy it, what did you pay for it, etc.
For the seemingly 'open and shut' cases, things went very quick. A few were not so lucky. Some cases seemed to be borderline as far as income/debt/assets, and the trustee asked questions about any extenuating circumstances (such as unreimbursed medical expenses, illness, unusual/exceptional expenses, anticipated income decrease, etc.). She seemed to genuinely trying to help the people involved come up with reasons why they should be allowed to file Chapter 7. What surprised me is that all of cases presented that I watched were *with* attorneys -- but the attorney rarely said anything or helped the clients out. How could they not have discussed the potential problems with these borderline cases?
There were a few cases where the trustee seemed to come across a bit more harshly -- in particular, where the income level was high. In one case, she asked a woman (married, filing singly, husband the only breadwinner) how on an income of $80K they could not pay anything on their $40K debt? Woman said husband didn't believe in CC's, so all CC charges were in her name only and her only answer was that they could not afford it. The trustee was obviously displeased.
The trustee was never outright hostile to anyone, and in general seemed to want to be helpful to those presenting their cases. Even those cases that seemed unlikely to have an easy go of it (which were the longest cases, 10-15 minutes and the questions went back 4 years instead of 2 - such as large purchases and such), she would state that she needed to ask more in depth questions for her bosses, and would inform the filer's that they might end up as a Chapter 13 or that their case would be questioned.
What was amusing and unexpected is that the cases ran over time with 8 of us left -- the court house was being closed at 5 p.m. So, we agreed to meet at a local coffee shop within walking distance to finish up. It was definitely unusual, although the seats were more comfortable, and refreshments were available! One man (who was seated before we came in) asked me what was going on -- I told him he didn't want to know! LOL
I can tell you if you have any concerns about your case, you would be lucky to be one of the last cases at the end of a busy day! Many cases were completed in 1-2 minutes during the last 15 minutes in the courthouse. LOL Seriously fast!
I met with the trustee in the coffee shop. It took about 3 minutes, I got the usual questions. Not even an itch about the money owed my by my ex (again, I'm not likely to ever see that money). She did ask me what my house (which I'm keeping) is worth -- I had it appraised in April and it was appraised at $40K less than what I owe, so no problem there. She did ask if the downpayment from my mom was a gift or loan -- I told her honestly it was a loan, and she mentioned to my attorney that we should have her listed as a creditor (some temporary confusion because it was hard to hear her) -- but we already had her listed on the paperwork.
Oh, she did ask about any refinancing. I had refinanced my home in early 2009 for ~$40K. I simply told her I had $35K in medical bills + expenses for remodeling another home (which was foreclosed on). Again, no requests for any additional proof or anything. And that was that! My attorney told me I answered all the questions perfectly, and to expect a letter in the mail in a week or so (something notifying creditors that I fulfilled my obligations in filing for bankruptcy?) and a discharge in 6 to 8 weeks (6 weeks because I was assigned a trustee/date for 2 weeks ago that was changed due to trustee recusing himself -- my attorney said the 60 days would start from then).
Anyway, it was an interesting and tiring day. I was nervous about things, though I did well in not even thinking about what was happening until this morning. I thought to myself as I drove home 'funny, I don't feel any different'. LOL
So, my attorney says it's okay to find a second job now and I can start paying my mom back. I can also start trying to save some money for an emergency fund, thank goodness.
If you are interested, the state of dress ranged from business suits/skirts to shorts and tee shirts. It did not seem to make any difference at all. I did see one or two who had on flashy jewelry, which seemed a little...unwise? to me -- but I don't know that it mattered. Basically, the trustee was happy if people seemed to have a clue about the proceedings. She did not like to hear "I have not idea". You definitely want to have your basic financial information with you -- tax evaluation/assessment of your home (if you have one), remember where you spent any refinance/inheritance money (back to infinity). If you got cash out during a refinance, you may need to prove where it went. I could not remember if I got cash out and paid my bills, or if the money went directly to my creditors -- my lawyer suggested I be vague unless asked for more detail, which worked splendidly (I gave the honest but vague answer of medical bills/remodeling -- which was completely true, I just did not clarify if I paid them or the refi checks when to them directly). It seems better to not volunteer more information than the trustee asks for (which seems to be true for anytime you are in court!).
It helps to know how much you made last year, and how much you expect to make this year (or as a household, depending). If you have unusual expenses (for instance, I pay over $200 a month just on prescriptions) that might help you if you are in the 'gray' area, be sure to know what those expenses are! (some mentioned a child needing braces, having to commute over 100 miles to work, etc.).
Anyway, I'm glad it is over and I am looking forward to getting my discharge. I'm also really hoping that is all I have to worry about! LOL
One big thing I took away from today is don't expect your attorney to have prepped you perfectly, or to help you a lot when you are in front of the trustee. You need to know YOUR information, to the best of your ability. I really liked my attorney, but I was surprised and a little dismayed at how little of a connection/shared relationship we had (any emails I sent I always prefaced with as much background info as I could, so I could be sure he knew who I was). I think it is unusual to be so intimately exposed to someone without any real, supporting relationship. Bankruptcy attorneys seem mostly to be really busy paperwork mills -- which is perhaps all they need to be for most cases. Again, I really liked my attorney, and he would answer questions, but it was obvious I was 'one of many' while he was my 'one and only'.
I arrived 2 1/2 hours early, to watch what happened with other cases. It was an interesting time. Most cases took 2-5 minutes at the most. The basic questions were as follows:
- have you ever filed bankruptcy?
- anyone owe you money that is collectable? (for me, my ex owes back child support, but lost his job last June so the money is not collectable -- when asked, I said 'my ex owes back child support' and the trustee interrupted and asked 'is it collectable?', I said no, and we moved on from there!).
- any injuries/accidents where someone else is liable? (looking for a payday for you)
- any recent deaths in your family? Any anticipated deaths in the near future? (looking for inheritance)
- have you ever received an inheritance? If so, when? How much? What did you do with the money? (the trustee asked this as an all-emcompassing question, as in EVER gotten an inheritance -- my lawyer said this is one of her particular quirks).
- have you made any purchases over $4000 in the past 2 years (*or 4 years)?
- when did you purchase your home? How much was your down payment? Where did that money come from?
- any winning lottery tickets?
- do you expect your income to be about the same this year as the last?
- do you own any property other than your home? What, where, what's it worth, when did you buy it, what did you pay for it, etc.
For the seemingly 'open and shut' cases, things went very quick. A few were not so lucky. Some cases seemed to be borderline as far as income/debt/assets, and the trustee asked questions about any extenuating circumstances (such as unreimbursed medical expenses, illness, unusual/exceptional expenses, anticipated income decrease, etc.). She seemed to genuinely trying to help the people involved come up with reasons why they should be allowed to file Chapter 7. What surprised me is that all of cases presented that I watched were *with* attorneys -- but the attorney rarely said anything or helped the clients out. How could they not have discussed the potential problems with these borderline cases?
There were a few cases where the trustee seemed to come across a bit more harshly -- in particular, where the income level was high. In one case, she asked a woman (married, filing singly, husband the only breadwinner) how on an income of $80K they could not pay anything on their $40K debt? Woman said husband didn't believe in CC's, so all CC charges were in her name only and her only answer was that they could not afford it. The trustee was obviously displeased.
The trustee was never outright hostile to anyone, and in general seemed to want to be helpful to those presenting their cases. Even those cases that seemed unlikely to have an easy go of it (which were the longest cases, 10-15 minutes and the questions went back 4 years instead of 2 - such as large purchases and such), she would state that she needed to ask more in depth questions for her bosses, and would inform the filer's that they might end up as a Chapter 13 or that their case would be questioned.
What was amusing and unexpected is that the cases ran over time with 8 of us left -- the court house was being closed at 5 p.m. So, we agreed to meet at a local coffee shop within walking distance to finish up. It was definitely unusual, although the seats were more comfortable, and refreshments were available! One man (who was seated before we came in) asked me what was going on -- I told him he didn't want to know! LOL
I can tell you if you have any concerns about your case, you would be lucky to be one of the last cases at the end of a busy day! Many cases were completed in 1-2 minutes during the last 15 minutes in the courthouse. LOL Seriously fast!
I met with the trustee in the coffee shop. It took about 3 minutes, I got the usual questions. Not even an itch about the money owed my by my ex (again, I'm not likely to ever see that money). She did ask me what my house (which I'm keeping) is worth -- I had it appraised in April and it was appraised at $40K less than what I owe, so no problem there. She did ask if the downpayment from my mom was a gift or loan -- I told her honestly it was a loan, and she mentioned to my attorney that we should have her listed as a creditor (some temporary confusion because it was hard to hear her) -- but we already had her listed on the paperwork.
Oh, she did ask about any refinancing. I had refinanced my home in early 2009 for ~$40K. I simply told her I had $35K in medical bills + expenses for remodeling another home (which was foreclosed on). Again, no requests for any additional proof or anything. And that was that! My attorney told me I answered all the questions perfectly, and to expect a letter in the mail in a week or so (something notifying creditors that I fulfilled my obligations in filing for bankruptcy?) and a discharge in 6 to 8 weeks (6 weeks because I was assigned a trustee/date for 2 weeks ago that was changed due to trustee recusing himself -- my attorney said the 60 days would start from then).
Anyway, it was an interesting and tiring day. I was nervous about things, though I did well in not even thinking about what was happening until this morning. I thought to myself as I drove home 'funny, I don't feel any different'. LOL
So, my attorney says it's okay to find a second job now and I can start paying my mom back. I can also start trying to save some money for an emergency fund, thank goodness.
If you are interested, the state of dress ranged from business suits/skirts to shorts and tee shirts. It did not seem to make any difference at all. I did see one or two who had on flashy jewelry, which seemed a little...unwise? to me -- but I don't know that it mattered. Basically, the trustee was happy if people seemed to have a clue about the proceedings. She did not like to hear "I have not idea". You definitely want to have your basic financial information with you -- tax evaluation/assessment of your home (if you have one), remember where you spent any refinance/inheritance money (back to infinity). If you got cash out during a refinance, you may need to prove where it went. I could not remember if I got cash out and paid my bills, or if the money went directly to my creditors -- my lawyer suggested I be vague unless asked for more detail, which worked splendidly (I gave the honest but vague answer of medical bills/remodeling -- which was completely true, I just did not clarify if I paid them or the refi checks when to them directly). It seems better to not volunteer more information than the trustee asks for (which seems to be true for anytime you are in court!).
It helps to know how much you made last year, and how much you expect to make this year (or as a household, depending). If you have unusual expenses (for instance, I pay over $200 a month just on prescriptions) that might help you if you are in the 'gray' area, be sure to know what those expenses are! (some mentioned a child needing braces, having to commute over 100 miles to work, etc.).
Anyway, I'm glad it is over and I am looking forward to getting my discharge. I'm also really hoping that is all I have to worry about! LOL
One big thing I took away from today is don't expect your attorney to have prepped you perfectly, or to help you a lot when you are in front of the trustee. You need to know YOUR information, to the best of your ability. I really liked my attorney, but I was surprised and a little dismayed at how little of a connection/shared relationship we had (any emails I sent I always prefaced with as much background info as I could, so I could be sure he knew who I was). I think it is unusual to be so intimately exposed to someone without any real, supporting relationship. Bankruptcy attorneys seem mostly to be really busy paperwork mills -- which is perhaps all they need to be for most cases. Again, I really liked my attorney, and he would answer questions, but it was obvious I was 'one of many' while he was my 'one and only'.
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