MasConcepts Incorporated

I had about $80k of various debts, CC, loans to cover CC. I had my 341 meeting this week and my biggest worry was my car. In short, it’s just about at that value point where a trustee might want it.

I was 3rd in the call, listened to two other people’s hearings. First one was pretty standard but had something insane like $40k of backed child support that she was to receive, but no way to collect on it. Once sorted, it was a no asset. Second call was an older lady who had suffered an injury. A lot of fine details, accounts, property, but the trustee was able to cut through and get things moving. Then came my case.

Not even a mention about the car. She was more interested in the minimal withdrawal I had to do from my work’s 401k, and the subsequent 2 money orders (we’re talking less than $2000). They were to cover rent as my landlord is very old school, and joked that she knew I was prepared since I had submitted photocopies of the money orders to my attorney in advance. After the standard questions, the only deviation she had mentioned is that my attorney used up a mix of exemptions to protect my car, and that if I were to receive a tax refund this year of $300 or more, I have to report it. (I’m not expecting, but, it is possible.)

And that’s it. Already leading up to this point, accounts were falling off my report. After this, the last holdout (a loan) finally fell off. I assume there will be nothing further until the eventual discharge. Everything free and clear. Following advice from a collection of posts here, I casually put out pre-approval requests to Capital One and Mission Lane, and was surprised to be approved for $3k and $2k unsecured respectively, no annual fees. The APR is atrocious, and I learned my lesson already so they’ll not be used aside from gas and paying it off every month, but it’s nice to know that even after a Ch7 and a low-600 score, I’m not starting off on the back foot in terms of rebuilding.

As many have said before, my only regret is not considering this earlier, before I had gotten too deep in the hole. Thank you to all the past posters on this sub. It’s been helpful and a huge relief.