341 next week -- getting scared

[tobee43]

Honestly, I'm not sure that we are technically reaffirming. I thought you *had* to reaffirm to keep house, car, etc, but apparently the judge doesn't usually reaffirm. So I guess we just keep paying.

well, honestly, i were you i would VERY carefully at the petition prior to signing it and make certain the BOX is NOT checked for reaffirmation. no you do not have to....there is a sticky....

please read this, i think you may find it really helpful:

http://www.bkforum.com/showthread.php?62833-Why-reaffirming-a-mortgage-is-a-very-very-bad-idea

[Lisa68]

Honestly, I'm not sure that we are technically reaffirming. I thought you *had* to reaffirm to keep house, car, etc, but apparently the judge doesn't usually reaffirm. So I guess we just keep paying.

[tobee43]

you can keep your home and not reaffirm. if something does happen ( and i know it wont') but just in case, you have a way out. of course many of those that do not reaffirm stay in their homes. it's just many times people's lives change in a matter of minutes as many of us have experienced here on this forum. i understand your reasoning, but its really not needed to be able to keep your home.

[Lisa68]

Thanks for the responses.

We are reaffirming our house because it seems like the best option. Also, we bought a small house, put a decent amount down and have a relatively small payment (this was about 14 years ago). We couldn't even rent an apt for this amount. We have managed to keep up with the payments (for the most part) even though our business (sole prop) is failing badly and my husband can only find temporary contract work (no benefits).

The thing that's really killing us financially right now is our health insurance -- almost $1100/mo for 3 people. I am in school and should be done by next summer, and the job market for my field (medical laboratory) is great. If we can just hang on until then...

[walkthaplank]

A CH7 341 hearing is a breeze. It is usually 6 or 7 questions and you are out of there. You spent your tax refund legitimately before you filed, you have nothing to worry about. Just relax and remember this will all be over soon. You will see after your 341 (like the rest of us) that you were very silly to be so worked up over it. I know it is like saying that your surgery will be just fine before hand, but most of us here have endured it and come out just fine on the other side. You are afraid of the unknown more than anything, just know that you don't need to get worked up over it and it will be over before you know it.

[Drazil65]

Hi, big hugs coming your way! In all likelihood your 341 will be over in a few minutes, a few standard questions and you are good to go. It may help you to get there early and watch a few people go ahead of you, see what it is like and what questions/circumstances come up.

Why are you reaffirming your house especially? We filed last December 13th 2011, the trustee never asked about or took any part of our refund for 2011. Maybe a fluke or maybe did not see the worth but we went in fully ready to give it up if he asked. So go in with the expectation and you may be surprised in the end right? Good luck and keep us updated.

[pamkev]

You will be fine. I also was very anxious about our 341 as we had some issues before we went. It was over and done with in no more than 5 minutes tops with no issues.

Pam

[Lisa68]

Thanks for the responses. It really makes me feel better.

[basketsbears]

(((Hugs))). I was so nervous for our 341 meeting, but it went so smoothly and was over in a few minutes. Try and rest.

One of my posts about our tax refund is for our 2012 taxes, which will be filed early 2013. The trustee has decided if we get a refund, they want part of it, which will be a small price to pay to get this all over with. We are due to be discharged any time after today, but we will probably not close until after the tax return is filed next year.

The people on this forum are great and have held my hand this past year before we filed, etc. We are all here for you.

Lynn

[AngelinaCat]

Lisa..... {{{{HUGGSS}}}}

You WILL get through it, and you will do fine. You may be asked about your tax refund; if you are state what you said here, that you spent it on your bills.

As for reaffirming your car loan and mortgage; it is generally recommended that you not reaffirm either. That is so that if something happens and you have to walk away from either one or both, you won't be stuck with the difference. Now some lending agencies insist that you reaffirm. Then it goes before the judge for approval. If the judge thinks that reaffirming would mean an undue hardship for you, the reaffirmation will be denied. That way you will have satisfied the lender's demand that you you reaffirm the loan, and that the judge's ruling is totally out of your hands.

Now as to your paperwork; were you required to submit anything further after you filed? Is that what you are getting the mixed signals on?

Our attorney was inept also, and did a very poor job in educating us about the BK process. We made many mistakes that need not have happened, had she done a better job with us, but we made it through, and you will too.

Make sure you have your DL and SS card, or other acceptable form of proof of your SS number with you. Do not bring anything else with you, unless you have been expressly told to do so.

Make sure that you know where your meeting will be held, and leave plenty early in case there are traffic and/or parking problems. Take a roll of quarters with you in case you have to feed a parking meter. Do you best to get a good night's sleep--yeah, I know--the night before.

Good luck to you!

[Lisa68]

Our 341 meeting is a week from tomorrow. It seems the closer we get, the more effed up things seem. I don't have a lot of confidence in our lawyer at this point. He has dropped the ball a number of times. The lawyer and teh person gathering our paperwork don't seem to be on the same page at all. I email her asking if they received the paperwork we sent that she requested and all she says is, "I need x, y, and z" -- yeah I sent that, did you get it?!?!?

One of my major problems with our lawyer is that I am getting mixed info about reaffirming -- we are reaff our house and car. All along he has talked like this is probably not a big deal or problem. Today he tells me the judge won't likely reaffirm, he usually doesn't. WTH??

I see on here people are being told to pay the trustee their tax refund. What is that about? We got a tax refund back in March - most went to back taxes. We are barely able to pay our lawyer.

I'm so stressed. I am barely keeping my head above water at this point - financially, mentally, emotionally. I just know something bad is going to happen at our meeting. Our lawyer will forget something, the judge or Trustee or whoever will hate us.

I'm looking forward to this being done, but I don't feel like we will ever get out from under this.