What Paperwork/Documentation Should Someone Have At A 341 Meeting
November 4, 2022
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.
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