An Important Morning Tomorrow!!

Hey Ya'll,

Well, bright and early (for me at least) tomorrow morning at 8 am, Walt and I have to meet with our Bankruptcy Attorney, and go before the Bankruptcy Trustee regarding our Bankruptcy request.   This is an important meeting, as we will find out what, if any of our belongings the Trustee wants to sell off, in order to pay some money back to our Creditors.

Keep in mind that we have a $500 allowance on each item.  Which means that whatever the Trustee takes to sell off, the first $500 of its sale goes to us, with the balance going towards paying off the Creditors.  Because of this, we do not expect much if anything to be taken (hopefully).  If anything, he may take the Hot Tub and Gazebo, and he may say the Gold Wing is worth taking. 

However, we do have $20,000 in which to protect items as well.  We are planning on using this money to protect Walt's truck, and the Bike if necessary.  The rest of the household items would be hard to sell for more than $500 each, making them undesirable to the Trustee.  Because of this, they rarely take items like these unless they are antiques, that are worth some money, etc.

So tomorrow we have to get all dolled up (for us at least) and go to this scary meeting!!  It is feasible that the Creditors could be there as well, but we have been told that they rarely show up for these meetings, unless some really big bucks is involved, or they suspect fraud, etc, and want to ask questions.  We do know that a representative from the Credit Union, where my car payment is through will be there, but other than her, we are not expecting any other Creditors.

We have also been informed that these meetings rarely last longer than 5-10 minutes maximum!  They have so many cases to get through in a day, so they basically push them through.  Which is why the Trustee has been looking through our information since the Bankruptcy Filing, this way he probably won't have many questions for us, if any at all.

Once we get through tomorrow.  If everything looks to be on the up and up, the Trustee will not need to schedule a 2nd meeting.  If this is the case, which it is most of the time, then we just have to wait 60 days for the Bankruptcy to be Discharged.  This gives the Creditors 60 days to protest it.  If no protest has been filed by 60 days, it is Discharged.  Then a whole new process begins, at which time I will talk about that process too.  So please wish us luck, that the Trustee doesn't have many questions, and we can get out of there fast!!

After the Trustee meeting tomorrow, which is in downtown Sacramento (ugh!!), we will spend some time shopping or whatever, until we can meet up with Aggie.  Her painting is finished, and we are giving it to her tomorrow!!  So I will post the photos of it after it has been given to her.  I will report her reaction then too.  :) 

Well, I gotta go, as I have to go through my entire history of billing and payments for the company that supplies my Bi Pap Machine and supplies, including my Face Mask.  They are claiming that I have a balance due, but I am fairly positive that I am up to date on what we owe.  So I only have to go through 15 months of billing statements!!!  I really hate this company!!  When we move up to the Reno area, I will be changing to another company!!!  Till next time....

Aloha My Friends  :)