Jump to content

341 this tuesday and so many unanswered questions


rocky12
 Share

Recommended Posts

My attny has turned out to be a real jerk and takes very little time to answer questions and acts like we are idoits every time we ask - I think he knows what he is doing but he has terrible people skills - doesn't matter now - but I still am so scared and feel so unprepared. He has filed our pay advices and our '06 taxes - other than that he says we do not need to bring ANYTHING to the meeting on Tuesday - that they may or may not ask for bank statements etc. -if they ask he says we dont have to have them then - we can supply them later. This does not sound right to me - but maybe. I think I will bring all the stuff I have anyway b/c if they ask for something I don't want to slow this down any by not having somehting. Another thing I am freaking out over is this - After we filed I got a part time job b/c we quickly realized the budget/expense list we filed left out unexpected expenses like insurance deductibles (500$$) for surgery that my son will have next month - yearly car taxes (due in April) etc. - I am making only maybe 70$ a week - I had no idea when we filed that I would do this - I did apply back in Nov. trying to make extra money at christmas but they told me then they were not hiring ( I can say I didn't anticipate any increase in income) - I will make maybe 5K in a whole year - I did not think this would be a problem - We were below the median income for our state with my husbands income - Anyway - my attny acts like I am a dumbass for doing this and says IF they ask questions (like am I employed) I will have to say yes and this could cause problems. Should I be worried? Any income I make will be so small and cover unexpected expenses - Do you think they wil ask if anything has changed since we filed - I thought with a BK they were looking at the 6 mo. leading up to filing and wha tyou did after really did not matter unless it was a major change. Our attny says just quit so if they ask I can say I am not emplyed but this job has free daycare and I have 4 kids so I am not going to give that up - we really need just a little extra cash for emergnecies - And now the attny says he may not be there but he'll have another anny there if he is not. I am so mad and so scared!

Link to comment
Share on other sites

Well you do need to bring two things. Your driver's license and your social security card...for each of you. You will need these to identify yourself to the court.

Other than that, he is mostly right...don't over-analyze the situation. You will get a short coaching before the meeting and your attorney (or substitute) will be with you when you are questioned. Just answer the questions directly and do not volunteer extra information.

DO NOT bring all your stuff. If you have it with you you may end up giving the trustee a reason to dig deeper than he would normally; And that could make matters more difficult for you.

Link to comment
Share on other sites

i will not supply any information i do not have to - and i will leave all my paperwork at home then i guess. my husband does not have his ss card - he has his dd214 (discharge papers form coast guard) our attny says that will PROBABLY work. he said to also bring a w2 from last year that shows ss# and that would be ok.

my other big issue i am worried about is reaffirming our car - i do not think we should but our attny told us "if you want to keep the car you reaffirm no matter what it is that simple" we have negative 4K equity - but he says even if we are current if we file bk and do not reaffirm they can come take the car at any time. my husband uses his car to travel out of town every week for work - he HAS to do that - and I have kids to take to school etc. and cant be without a car - so if the car got repo'd we'd only have our van (which is paid for and we are keeping with exemptions) - we could not go out and buy a car immediatly esp. right after filing - so if there is a risk of them repoing them we will have to try to reaffirm I guess and hope we don't wreck the car and get left with a gap in the loan and insurance money we'd get. i really appreciate you all letting me know that what my attny has said is in line - i will stop worrying so much i guess. he says our case is pretty straightforward - even though we are listing creditors from my husbands company (an LLC but people are now trying to sue him in civil suits so the attny jsut said list them all) and we have an issue with property that my mom in law bought and put my DH name on the deed to it so techincally he owns one third of it - But we have records showing that SHE paid cash in full for it and it is undevelped property that would be hard to sell - his 1/3 is worth mayeb 20K which is a lot - our attny says it's a gamble but most liekly the trustee willleave it alone. anyway - it's going to be a long weekend - i will just be glad when tuesday is over and we can wait and see what happens next.

Link to comment
Share on other sites

Again your attorney is mostly correct about the car. If you do not reaffirm they can reposess the car even if you are current on the payments. This is actually pretty uncommon though. They would rather have the money since the car is rarely worth what is owed.

Let me explain. The bankruptcy erases your personal liability to pay the loan on the car. But the lender has a lien against the property as a guarantee of payments. The lien survives the bankruptcy. As long as your payments are current and you maintain full insurance coverage, the lien conditions are satisfied and they have no legal reason to take the vehicle. Ipso-facto clauses in the loan paperwork (meaning a statement that filing bankruptcy is an automatic default on the contract) have been held to be unenforceable. So just filing bankruptcy when payment and insurance is current doesn't mean you defaulted.

Now about the insurance. In order to fully ensure that their interests are covered, you must have GAP INSURANCE in addition to your normal full coverage insurance otherwise you are in default for not fully securing their interests. Since you no longer have a personal liability to pay the difference between an insurance payout and what you owe if the car is wrecked, they can take the car based on lack of fully securing their claim. That's where the gap insurance comes in. If you have insurance to cover the full cost of the loan if the car is damaged or stolen then you have eliminated all reasons they could have for saying you are in default...and they cannot take the car.

For the other issue: If any listed creditor sues you separately, send a copy of the complaint to your attorney. That is a violation of the bankruptcy stay and you are entitled to damages if they do this. Hopefully your attorney will vigorously prosecute any such incident rather than just send them a cease letter. The stay in the bankruptcy code won't be respected unless creditors understand it has teeth and they can be bitten for violating it.

Link to comment
Share on other sites

At our 341 mtg. tomorrow - How likely is it that I will be asked if I am still unemployed? I was when I filed - I have since started a PT job for very little money. If this comes up our attny says we;ll have to ammend - we'll still be fine - it is not enough income to change anthing but it will tie things up longer - I am just wondering if anyone knows will they ask me "are you stil unemplyed" or ask us both "has your employment situations changed" or I noticed on a list of trustee questions in a sticky here "what is the address of your employer" I am hoping that it won't come up but if it does I am going to say I got a job to cover unexpected expenses like the surgery my son has to have next month and we'll have to pay at least 500$ that insurance won't cover - this is true. just wondering if anyone - esp. in GA has had a hearing and if there were questions regarding employment. thanks!

Link to comment
Share on other sites

i went on march 11 got letter today from trustee saying he was abanding my house because i owe moore than its worth thats not true if it is is only by 5,000 im not late on mortgage and never was how can i get out of this he gave me until the 2 april to object my lawer was not in she is not doing a good job i also got job after i filed it put me over the mean i dont want to loose my house i have no were to go in 3 weeks what should i do

Link to comment
Share on other sites

well that does not make me feel better - our house shows having about 5K negative equity too - that is not much - i sure hope that is not an issue. 5 hours from now we'll be there. i am not expecting much from the mtg. -just want to get it over so we can wait some more!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.