Your Day in Court at Your 341 Meeting – What to Expect

What to Expect for Your Las Vegas Bankruptcy Case

Undergoing bankruptcy proceedings may seem complicated and overwhelming, but the process is pretty straightforward. Part of the initial phase is a 341 hearing. Based on section 341 of the US Bankruptcy Code, a 341 hearing is a meeting with the debtor, debtor’s attorney from Call Christine, bankruptcy trustee, and creditors, who usually choose not to attend. If creditors show up, they will ask about payment of outstanding debts.

These meetings, which are part of both Chapter 7 and Chapter 13 bankruptcy proceedings, usually last between 5 and 10 minutes and consist of the bankruptcy trustee asking the debtor some questions.

The purpose of the 341 meeting is for the bankruptcy trustee to query the debtor about assets, expenses, and the possibility of debt repayment. The trustee’s job is to make sure the information provided about the debtor’s financial situation is complete and accurate, and to administer your bankruptcy estate by making sure creditors are repaid as much as possible before discharging debts.

How to Prepare for a 341 Hearing

The trustee’s questions will confirm the information you submitted in your bankruptcy case, and may probe further into potential inheritances, tax returns, and insurance payouts in the near future. These questions are meant to detect fraud and the potential ability to repay more of your debts.

Although these meetings are short, they are important to the success of your case. If for some reason the trustee feels the bankruptcy is fraudulent and should be dismissed, the trustee reports the request for dismissal within 10 days of the hearing and the debtor will be unable to file for bankruptcy again for 180 days. You can prepare for your meeting by being ready to answer the trustee’s questions honestly, and your Las Vegas bankruptcy attorney will help.

What You Need to Bring to Your Creditors Meeting

In addition to preparing to answer questions about your case, you will need to bring a few things to your 341 meeting:

  • Photo identification and Social Security card
  • Bankruptcy filing papers
  • Proof of income along with recent bank statements
  • Any documentation necessary for the means test

This meeting usually takes place in a regular meeting room, not in a court room. There is no judge, and meetings occur within 21-60 days of filing for bankruptcy.

After the 341 Meeting

When the trustee feels he or she has the necessary information, the 341 hearing is complete. The trustee may schedule another meeting if there are outstanding questions or a need for further documentation. Creditors have 60 days from the 341 meeting to object to the bankruptcy and discharge of debts, but this is not common.

Those filing for Chapter 7 bankruptcy must complete a debt education course within 60 days of the meeting, but Chapter 13 filers have until the end of their repayment schedule to complete the course. The filer must also reaffirm any debts he or she would like to keep, such as a car loan, after the meeting. But once the 341 meeting is completed, the bankruptcy case is in the home stretch and filers can begin to enjoy the peace of mind that comes with financial freedom.

No Cost to Get Started on Your Bankruptcy Case in Las Vegas

Filing for bankruptcy can feel like an ordeal as heavy as your debts, but Call Christine, a Las Vegas bankruptcy law firm, will make the process as painless as possible. Our bankruptcy lawyers look for the best options for clients to find relief and complete debt forgiveness. Call Christine at (702) 986-0000 or contact us online to schedule an initial bankruptcy consultation today.