Re: No Attorney 341 Meeting

The trustee is paid a flat fee plus a percentage of what he recovers
for the creditors on a tirered basis.

Learn the income tax laws, then you won't have to worry about the
IRS. It's easier than CPAs & attornerys let on, since most of it
does not apply to us.


George


--- In , "Jack Dingler"
wrote:
> Well it happened, my first meeting is behind me.
>
> The 341 meeting was interesting. No creditors came. Since I
couldn't
> afford an attorney to help with the filing, I think I must've made
> some mistakes in the paperwork. The trustee seemed to indicate so,
but
> stopped short of saying it outright.
>
> The Trustee had questions about stock that I declared and said he
> would be writing me a letter with additional questions. I hope that
> this is just what he said it is, and not some sort of surprise in
the
> waiting. It didn't help that I signed on to my new job the same
day. I
> think he expects to find that I'm hiding something.
>
> My stock in my failed business is worthless, but I don't think he
> believed me. If I have to track down some of the other principals
to
> get supporting documentation, then this could take a while. The
> corporation never made a dime and I invested at least $15,000 in
it. I
> never received a single payment from the corporation. It did earn
> $5,000 before I became an active employee, but that money was
divided
> between the three principals involved in that consultation. Since
the
> bankruptcy court is in the same building as the IRS, I doubt he'll
> have any trouble discovering that the corporation has zero value.
As
> I'm the contact for Dunn and Bradstreet, I already have a good idea
> what the credit report looks like.
>
> We declared some bank stock worth about $1700, but is difficult to
> sell. If he wants it, he can have it. He made it sound like we were
> doing something dirty in owning difficult to sell stock, while
> declaring bankruptcy. I honestly don't see the crime in owning it
and
> declaring it. It was my understanding that he may demand it be
> relinquished to him for liquidation, so I don't see why he should
be
> raising an eyebrow. Perhaps it's because he doesn't want to be
> bothered with it?
>
> At this time, I just hope that I haven't made a mistake that I can
be
> arrested for.
>
> The trustee seemed to be a little more emotionally involved with my
> case than I would like. I've learned in business, always smile,
even
> when being screwed. Perhaps my demeanor was annoying him and he now
> feels he needs to prove something?
>
> It has occurred to me also, that I may have done everything just
> correctly enough to be legitimate, but not in the way that he and
that
> system is accustomed to, and so have created extra work for him.
Where
> attorneys have time to be trained into the system, I'm a one time
shot
> that he may have to spend extra time with.
>
> I really didn't feel stressed until after the meeting. I knew
> beforehand that the trustee has an adversarial relationship with
us,
> so I'm not sure why I was surprised that he acted in such a
manner. I
> suppose I expected him to be a little more honest and forthright. I
> did learn that hearings are not designed to be anything more than a
> formality. It doesn't appear that things are actually supposed to
be
> accomplished in them. I appeared to have screwed that part up.
>
> As this continues, I'll keep you folks posted.
>
> If no creditors object to the bankrupcty, then can the trustee do
so
> on behalf of the Federal Courts, or on behalf of the non-objecting
> creditors? Is it sometimes the Trustee's role to goad the creditors
> into objecting?
>
> Jack Dingler