What do you need to know about the 341 meeting?
What do you need to know about the 341 meeting?
During your bankruptcy case, whether you file under Chapter 7 or Chapter 13, you will have to attend a meeting with your creditors and the bankruptcy trustee in charge of your case. This meeting, called the “341 meeting” (after its location in the bankruptcy code), the creditors’ meeting, or the meeting of creditors, can be hard to prepare for.
What happens after a trustee meeting in Chapter 7?
In Chapter 7 cases, the trustee has a 10-day period after the 341 meeting to allege the debtor is abusing the process by filing under Chapter 7 and not Chapter 13.
When is the meeting of creditors hearing in Chapter 7?
It’s two months and two weeks ahead. At your bankruptcy trustee hearing–called the section 341 hearing or “meeting of creditors”–two different trustees had a shot at you. The Chapter 7 trustee looked at your papers to see if there was anything valuable to sell.
What to expect at a bankru trustee meeting?
whether you have filed for bankruptcy in the past. Along with these mandatory questions, the trustee may ask about your property and other assets, your income, your expenses, your debts, and so on. The trustee might also ask about discrepancies in your bankruptcy forms, how you came up with a value for various property items, and so on.
During your bankruptcy case, whether you file under Chapter 7 or Chapter 13, you will have to attend a meeting with your creditors and the bankruptcy trustee in charge of your case. This meeting, called the “341 meeting” (after its location in the bankruptcy code), the creditors’ meeting, or the meeting of creditors, can be hard to prepare for.
What happens after a 341 meeting in bankruptcy?
Let’s Summarize… In most consumer bankruptcy cases under Chapter 7, not much happens after the 341 meeting is done. It’s actually a good thing not to hear anything from anyone (including your trustee) after the meeting. The court will grant your bankruptcy discharge 60 – 90 days after the meeting.
In Chapter 7 cases, the trustee has a 10-day period after the 341 meeting to allege the debtor is abusing the process by filing under Chapter 7 and not Chapter 13.
whether you have filed for bankruptcy in the past. Along with these mandatory questions, the trustee may ask about your property and other assets, your income, your expenses, your debts, and so on. The trustee might also ask about discrepancies in your bankruptcy forms, how you came up with a value for various property items, and so on.