341 Jitters... And a q or two...

[Aguyintrouble]

What is the name of your state? New Hampshire

Hey all -

Well, this Thursday at 9:30AM is my first meeting of my creditors. I'm feeling nervous, as most do, though my attorney will be there.

I got to thinking, and was wondering if someone knowledgeable (moreso than me at least) can help me understand a couple things...

My attorney said that I don't need to worry about this meeting, I need to worry only about the US Trustee. I thought this trustee was the trustee, and the US trustee only comes into play with fraud, or this trustee is over worked, or whatever. How does the US Trustee relate to this trustee I'll meet Thursday?

Could someone verify or correct this timeline?

We filed on March 21stish.

30ish days from then (April 21st even) we have our 341.

The trustee gets 30 days from the date of the 341 to file objections to our filing, or our excemptions, etc.

The creditors get 60 days from teh date of the 341 to file their objections, or claims (if it's a chapter 13 which I HOPE we're not forced into).

If the trustee doesn't object in those first 30 days, and no creditors object (or their claims are dissallowed or whatever) - we get a discharge on day 61 - so 61ish days after the 341 hearing?

I guess I'm trying to understand the timeline now. I do know that for 6 months from the date of filing any windfall gets taken - or at least can be taken. But how about the other times - are they correct?

Many thanks, and wish me luck!

[Ladynred]

The US Trustee is the Panel Trustee's BOSS. The US Trustee reviews cases for substantial abuse, among other things, including fraud.

The trustee gets 30 days from the date of the 341 to file objections to our filing, or our excemptions, etc.

Yes, but the Trustee can ask for an extension of that time and they DO do it.

[Aguyintrouble]

Thanks for the info.

Well, here hopefully I'll know what's going on after the meeting on Thursday.

[sammy05]

The info from Ladyinred was right on. I just watned to chime in to tell you that I had my meeting yesterday and was a nervous wreck. I didn't sleep at all the night before and was so scared of what was going to happen. I got there about an hour and a half early and sat in on the meetings. Even though everyone says to do this I was afraid of it...I had this picture of everyone looking at me and wondering why I was there. That just didn't happen...lawyers and debtors came and went as they pleased and I felt quite comfortable walking right in and sitting down after I sat in the waiting room a minute to see what other people did...I wasn't sure if there was a protocol. Anyway, I am glad I did it, it gave me a great idea of what I may be asked and gave me time to sort of rehearse what I would say so I wasn't nervous.

My trustee was very staunch and had an almost rude err about him but it seemed mainly because people weren't prepared with the info or document he needed. My attorney had me get my ID, lease document, and mortgage paperwork ready beforehand and the trustee seemed to like the fact that we were prepared. He didn't ask me anything other than the questions he legally has to ask and I was done in less than 5 minutes!!! I was nervous for nothing!!!

Even the people that had some weird circumstances and were asked alot of questions were done pretty quickly and were surpirsed at how easy this part really was. My lawyer told me after that the Trustee wil file a no asset case for me and I can expect a discharge paper in about 75 days....but I could check PACER around day 65 or so to see if the discharge was in place already.

So relax and don't worry! Take it from me.....the biggest worrier in the world!

[rockobuster]

Did you happen to hear what kind of questions others were being asked that they couldn't answer?