Austin Bankruptcy Creditors Meeting Attorney
The 341 Meeting Is Part of the Chapter 7 & Chapter 13 Bankruptcy Process
The bankruptcy creditors meeting is usually the only time a Chapter 7 bankruptcy filer will have to appear at a formal hearing. Even this hearing does not take usually place in a courtroom but as an informal hearing with the U.S. bankruptcy trustee. Chapter 13 bankruptcy filers may have to attend at least one other hearing, the confirmation hearing, which does take place before a bankruptcy judge.
As your bankruptcy lawyer, I — Robert W. Berry — will help you fully prepare for the bankruptcy creditors meeting and the confirmation plan hearing. The purpose of this page of my website is to provide some preliminary information about the bankruptcy creditors meeting, but it is no substitute for receiving complete information during meetings with your attorney.
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Texas 341 Meeting: What You Need to Know
The bankruptcy creditors meeting is sometimes called the 341 meeting (after the numbered section of the Bankruptcy Code that describes the required meeting), the meeting of creditors, or the trustee’s meeting.
The bankruptcy creditors meeting is usually scheduled to occur about 20-40 days after you file your Chapter 7 or Chapter 13 bankruptcy petition. A bankruptcy trustee presides over the meeting. As a practical matter, it is relatively rare for creditors to attend the meeting.
At the meeting, the bankruptcy trustee will ask you several questions under oath. Creditors may ask questions directly but are severely restricted in the amount of time they have to do so. Questions the trustee will ask include:
- Did you read your bankruptcy schedules before you signed them?
- Did you list all your assets and all your debts in your bankruptcy paperwork?
- Is your paperwork accurate or do you need to make corrections?
- Do you have any child support or spousal support obligations?
At this first meeting of creditors, the bankruptcy trustee will also make some required statements about the consequences of bankruptcy, other chapters of the Bankruptcy Code under which you might be able to obtain debt relief, the effects of receiving discharge of debt, and the effects of reaffirming debts during bankruptcy proceedings.
Get More Information From an Experienced Austin Bankruptcy Creditors Meeting Lawyer
At a free initial consultation, learn more about my legal services in the arena of debt relief and bankruptcy. Call 512-501-1948 or 888-893-5886 or contact me online.
I am a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
