Roseville Bankruptcy: The 341 Hearing with Creditors

Both Chapter 7 and 13 require a “Meeting of Creditors” hearing.  This meeting allows the Trustee the opportunity to question the debtor.  The Trustee will ensure that the information on your filings is accurate and inquire as to your assets and liabilities.  The Trustee will also ensure your assets are do not exceed the legal exemptions for protected property.  You can expect your Meeting with Creditors to occur within 30 days of filing of the case.  The meeting is not something to worry about since it only lasts 5-15 minutes and though creditors can come they rarely do.  Sagaria Law has its clients come 15 minutes early so we can be on the same page before the meeting.  Attendance is not optional; you must attend or you will not be able to discharge your debts.  To make you feel more comfortable, you can review  this list of sample questions the Trustee will ask:

1)  What is your name and address?
2)  Does your plan include all of your creditors and assets?
3)  Did you review the bankruptcy petition with your attorney before filing?
4)  Are the scheduled debts correct or do changes need to be made?
5)  Have you ever filed a bankruptcy before?

The Trustees questions are for the purpose of making sure you qualify for bankruptcy and that your filing contains all appropriate information.  A Sagaria Law Roseville attorney looks forward to raising your comfort level with all of these different requirements to make your bankruptcy as painless as possible.

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Why are you considering bankruptcy? (select all that apply)

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Do you own real estate ?
If Yes , are you behind in these payments?

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