Does debt have you feeling stressed? Bankruptcy can be a powerful form of debt relief, but it doesn’t come without stressors of its own. Most people aren’t eager to enter court proceedings or attend a hearing. However, attending at least one hearing- the 341 Meeting of Creditors- is a necessary part of the bankruptcy process. Whether you’re in Mesa, Gilbert, Chandler, Apache Junction, or anywhere else in Maricopa County, filing for bankruptcy will be smoother and easier with the guidance of an experienced bankruptcy attorney. Alison Briggs and the rest of our Mesa bankruptcy team will guide you through each of the bankruptcy processes. To get started with your free consultation by phone, click here or call 480-405-1010.
Frequently Asked Questions About the 341 Meeting of Creditors
When will my 341 Meeting of Creditors Be Held?
You should receive a letter from your bankruptcy trustee about 10-15 days after filing which should notify you of your hearing date. This hearing is generally 30-45 days after your case has been filed. It may take slightly longer if the court is experiencing delays or an increased filing rate.
What Should I Expect From My 341 Meeting of Creditors?
Since the COVID-19 pandemic, most 341 Meetings of Creditors have been held telephonically rather than in a physical courtroom. That means that you will most likely be attending your 341 hearing through Zoom. You must familiarize yourself with the software and make sure that it works on your computer before your hearing, not during it. Your 341 hearing should only be scheduled to last 30 minutes, but it probably won’t even take that long. Most 341 hearings wrap up in 15 minutes or less. There will likely be other debtors scheduled within your time slot, so it might not begin right at the start time provided.
Who Will Be at My 341 Meeting of Creditors?
If your spouse is on your bankruptcy petition with you, they should be at your 341 hearing with you. If you hired bankruptcy representation, they would also need to be in attendance at your 341 hearing. The trustee assigned to your case will be running your 341 Meeting of Creditors. As the name suggests, your creditors may also appear at your 341 hearing. Your creditors can send an attorney or other representative, but they also have 60 days after the hearing to file any objections they would have made at the hearing.
What Do I Need to Bring to My 341 Hearing?
You need two forms of identification to confirm your identity at your 341 Meeting of Creditors. One needs to be a form of photo identification, and the other must be an original document that contains your social security number. You should also have your most recent tax return and income statement, as well as documents on any liens that will be applicable in your bankruptcy case. Contact your bankruptcy attorney for more information about what information you should have available for your 341 hearing.
Can My Creditors Pursue My Family Members If I File For Bankruptcy?
Arizona is a community property state, so it’s important to understand how debt accrued during a marriage may be treated differently than debt accrued before or after marriage. Additionally, your loved ones may have co-signed on your debts, which would allow creditors to pursue them if you fail to pay and eventually declare bankruptcy. Otherwise, debt doesn’t transfer between family members, and debt can’t be inherited upon the passing of a loved one.
What Happens If I am Late or Miss My 341 Meeting of Creditors?
Most of the time, the trustee will continue a first missed 341 hearing, meaning it will be rescheduled for a later date. This will cause a Chapter 7 bankruptcy discharge to be delayed. However, the trustee may dismiss the debtor’s case if they aren’t putting the proper effort into their case. If you retained bankruptcy counsel, you may need to pay an extra appearance fee for wasting your attorney’s time.
What Should I Do After My 341 Hearing?
You have 60 days after your 341 Meeting of Creditors to complete your second online credit counseling course and submit your certificate to the court. This course will be similar to the one you took before filing and should be taken with the same course provider. It’s best to complete the course as soon as possible after the hearing to avoid forgetfulness or delays. If you filed your bankruptcy self-represented, you will need to obtain and file your certificate. Your attorney will take care of this if you have retained one. If you filed Chapter 7 bankruptcy, you will simply be waiting the 60 days after your 341 hearing to see if any of your creditors object to your bankruptcy. If you filed Chapter 13 bankruptcy, you will need to make payments as per your plan proposal. There can also be creditor adversary proceedings in a Chapter 13 bankruptcy.
What Questions Will My Trustee Ask?
While every case is different, there are some questions that you can expect to be asked in just about every 341 Meeting of Creditors. The questions asked in Chapter 7 341 Meeting of Creditors should be very similar to a bankruptcy filing under Chapter 13. Some of the questions that you might anticipate at your hearing include:
- Did you review and sign your bankruptcy petition with your bankruptcy attorney?
- Did you include all of your property and other information in your petition to the best of your knowledge?
- Do you wish to make any changes or amendments to your bankruptcy petition?
- Have you ever declared bankruptcy in the past?
- Did you include all of your creditors in your creditor matrix?
- Do you have any domestic obligations, i.e., spousal maintenance or child support?
- Are you up to date on your tax returns?
- When was your most recent credit card purchase?
- Have you sold or transferred any property in the past 2 years?
- Do you expect to receive any inheritance or other payments shortly?
- How did you estimate the value of your possessions?
The best way to be prepared for your 341 Meeting of Creditors is by consulting with a skilled bankruptcy firm. Our bankruptcy team offers representation in the East Valley with If you’re looking for a lawyer in the Maricopa County area, contact our firm at 480-405-1010.
Dedicated Bankruptcy Representation from Consultation to 341 Hearing to Discharge
When you want your bankruptcy filed right, you need a law firm that focuses solely on bankruptcy practice. Specific knowledge about bankruptcy in Maricopa County will yield the best possible results for your case. This is your financial future on the line, and a well-planned bankruptcy can be the difference between financial devastation and a fresh start. Chapter Bankruptcy Lawyers services Mesa, Chandler, and the rest of the East Valley. Qualified clients can take advantage of our post-filing payment plans starting as low as $0 down. Start bankruptcy out with a sense of confidence by speaking with a professional about your situation free of charge. When you’re ready to get started with your free consultation with us, call 480-405-1010.