341 Question

[annikasaunt]

What happens when a creditor shows up at the hearing? Do they just want to deal with you for some of their money? How does that work? I want to be prepared just in case anybody shows up tomorrow!!

[fellowpoorman]

Orobably, but there really is no reason for them to show, I had a CA threaten to show up, but they didn't, you'll be done in 5 minutes

[fellowpoorman]

ps its day 55, 5 to go no objections so far

[so-beyond-broke]

Good luck tomorrow

Your 341 should go fine at least that's what everyone here has said. Creditors most likely don't show, but if they do they will probably want to know what you are doing about their debts - reaffirming - which you know that you are under no obligation to do so.

Good Luck! At this time tomorrow you can all tell us how things went

sbb

[fellowpoorman]

I look forward to your happy report, as I recall you are in CT as am I, Good luck. Don't worry, the relief you will feel when its over is almost...well orgasmic.

[SinkingFast]

The paralegal at our attny's office told us we probably won't see any Creditors. If we had local loans, probably. There are a few local Creditors here, I guess, that are notorious for showing up at the 341.

But all of ours are CC's with MAJOR banks, and the paralegal said there's never been one of their reps at a 341. They don't bother sending someone for that. They just file an objection or an adversarial instead.

Hoping your 341 will go just fine!!

[freshstart4me]

My 341 is tomorrow also! I am the first one at 9:30 a.m. I am worried about one creditor who showed up at my Chapter 13 341.

I am scared of these darn things and I used to work as a bankruptcy paralegal in Texas. Good grief you would think I wouldn't be as nervous as I am!

I am sick of stress and worry.

[keepmine]

At my 341, only 1 creditor showed. He was representing alocal CU.
When the trustee asked if any creditors were present, he walked over to the table and very politely introduced himself and handed the petitioner a business card and then asked about their intentions regarding an auto loan that was IIB. He was quite cordial and non threatening and was done in just a few minutes.
You guys try and relax. If your bk is routine, you'll be done in 5-10 minutes.

[aa06a47]

My attorney told me that usually creditors who do show up, usually only put an entry into the log showing they did show up (probably to get paid by the company they represent). Also, they are not allowed to be adversarial in the hearing.

[Annika]

There was a girl who had her 341 the same day we did, and she had a creditor show up (ex-landlady). You could see them glaring at each other, so apparently they'd had some previous personal confrontations.

The trustee looked over the girl's papers, saw that she had no assets, and basically told the ex-landlady that she was SOL as far as collecting any money.

The ex-landlady gathered her belongings and left the room, obviously angry, but that's all she COULD do. It was "end of discussion" as far as the trustee was concerned.

There was another creditor who was there just to get the reaffirmation papers signed. No biggie on that. He was polite and professional.

We watched about 15-20 other cases before ours, and out of those, the ex-landlady and the reaffirmation guy were the only creditors that showed up.

[annikasaunt]

Well I'm off...just heard that the street the building is on is closed due to the Chinese president coming to town. So, we are leaving early just to go figure out the parking situation! Not good luck so far!!

We do have a loan at a local Credit Union, so maybe we'll see them there! I really hope not!

Talk to you all later...