Montgomery, AL Attorneys Advise Debtors Regarding 341 Hearings

Alabama Bankruptcy Law Firm Stands Up for Clients

Approximately four to six weeks after a chapter 13 or chapter 7 bankruptcy petition is filed, a Section 341 Meeting of Creditors (341 hearing) will be conducted by a bankruptcy trustee. At this meeting, the trustee may ask you the following:

• Questions about the information contained in your bankruptcy petition
• Whether you have listed all your property, including cars, houses, furniture, and other assets owned
• What your estimated monthly income and expenses is, and whether you have received any lottery or casino income
• Whether you have inherited any land or money in the past year or expect to in the next six months

If any of your creditors attend the meeting (and they seldom do), they will also be given the opportunity to ask questions. At the end of the 341 meeting, the trustee will make a recommendation to the bankruptcy court regarding how your case should proceed.

After the 341 Hearing

In chapter 7 cases, you will usually not be required to take any further action. For chapter 13 filings, a confirmation hearing may be held next, where a determination will be made regarding approval of your chapter 13 case plan. In many cases, an agreement will be reached between your attorney and the chapter 13 trustee and your attendance will not be necessary at a conformation hearing.

Contact an Experienced Montgomery, AL Bankruptcy Attorney

Are you looking for competent legal advice regarding a 341 hearing? Contact the Alabama bankruptcy lawyers at the Bond & Botes Law Offices online or call 1-877-581-3396 to set up your initial consultation with an experienced bankruptcy attorney today.