What Paperwork/Documentation Should Someone Have At A 341 Meeting

When you go to a 341 meeting, what you must have is your Social  Security card, or other proof of Social Security number, and a state  issued ID card or driver’s license. Those are the 2 things that are  required on the notice sent out by the court. Some Chapter 7 trustees  also request copies of the past few bank statements. Our lawyers know  will request this and we advise our clients beforehand.

WILL I ACTUALLY APPEAR IN FRONT OF A JUDGE AT THE 341 MEETING OF CREDITORS?

Judges  are not allowed to attend the 341 meeting of creditors. In 95% of  cases, the debtor will never see a judge. I haven’t had a client testify  before a judge in at least over a year.

WHAT HAPPENS NEXT IN THE BANKRUPTCY PROCESS ONCE THE 341 MEETING OF CREDITORS IS OVER?

For Chapter 7 case nothing really happens after the 341 meeting.

For 99% plus it is over. An Order of Discharge will be entered in a couple of months.

The second course: Debtor Education has to be completed any time after the case is filed and before the case is closed.

Certain debts will have to be reaffirmed. This mainly applies to cars if there is a lien and you want to keep your car.

Creditors  and the trustees have a certain number of days to file an object to the  discharge. Objections to discharge occur only in a tiny percentage of  cases.

In a Chapter 13, after the  hearing, the next big thing that happens is confirmation, where the  judge approves the plan of repayment to creditors. Here, the goal is to  get the case approved for the plan of reorganization. Many times, we  will see objections from creditors, because it’s virtually impossible  for us to know how much a debtor is behind like in a mortgage case or  something. We take educated guesses, unless we have the paperwork for  the debt. Car companies might object to the treatment that they are  getting in a Chapter 13 plan. Usually all of that stuff is kind of  administrative stuff that attorneys handle. The biggest problem that I  see is people who owe the IRS. All of a sudden, the IRS files a claim  for a huge amount of money, and we have to investigate that, so there is  sometimes a fair amount of investigation going on. The most important  thing that the debtor can do is to show up to the hearing, and make  their payments on time.

The most  important thing is that the Chapter 13 plan payments are being made.  Chapter 13 cases will not be confirmed unless the Chapter 13 payments  are current or substantially current.

ADDITIONAL INFORMATION ON 341 MEETING OF CREDITORS

Creditors  can show up and ask questions. It’s very rare, and in 99 % of cases we  do not have any creditors appear. Especially in a Chapter 13, I can’t  remember the last time a creditor ever showed up to the meeting.

For more information on Documentation Required In 341 Meeting,  a Complimentary initial consultation is your next best step. Get the  information and legal answers you are seeking by calling today.

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