{"id":6100,"date":"2021-11-06T09:00:33","date_gmt":"2021-11-06T09:00:33","guid":{"rendered":"https:\/\/mcintirelaw.com\/?page_id=6100"},"modified":"2023-05-05T00:23:37","modified_gmt":"2023-05-05T00:23:37","slug":"341-creditor-meeting","status":"publish","type":"page","link":"https:\/\/mcintirelaw.com\/341-creditor-meeting\/","title":{"rendered":"Wheeling 341 Creditor Meeting"},"content":{"rendered":"

341 Creditor Meeting Lawyer in Wheeling<\/h2><\/span>
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Filing for Chapter 7<\/a>\u00a0or Chapter 11 Bankruptcy can be a tedious process. The petition also involves a 341 creditor meeting where the debtor or the one filing for bankruptcy will be asked a few questions.<\/p>\n

Although it is called a 341 creditor meeting, sometimes the creditor does not always appear. However, the debtor still must provide solid evidence, documents and answer all the questions clearly for the petition to be approved by the Bankruptcy court. Working with an experienced bankruptcy attorney<\/a> in Wheeling, West Virginia, will help you with the process and prepare you for the questions that they might ask during the 341 creditor meeting.<\/p>\n

By working with\u00a0Thomas E. Mcintire and Associates L.C.,<\/a>\u00a0who has more than 30 years of experience handling bankruptcy cases in West Virginia, you\u2019ll be able to go through the bankruptcy process with ease. Although there are multiple bankruptcy alternatives to choose from, declaring or filing for bankruptcy<\/a> should be the last resort.<\/p>\n

If you\u2019re planning to file for a Chapter 7<\/a> or Chapter 11 bankruptcy code and need legal assistance on the process, you can contact our team and book a free consultation to assess your situation.<\/p>\n<\/div>

The 341 Creditor Meeting in West Virginia<\/h2><\/span>
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As mentioned earlier, the 341 creditor meeting is mandatory for all debtors or bankruptcy filers. It is mainly conducted outside the presence of a state judge and primarily presided by a trustee assigned to the case. The 341 creditor meeting usually takes place between 21 and 50 days after the filing of the petition. In bankruptcy chapters 7, 12, and 13 cases<\/a>, trustees assigned to the case hold the meeting. In chapter 11, a representative of the United States Trustee conducts and holds the said meeting.<\/p>\n

It is often called the 341 creditor meeting because it is mandated by Section 341 of the Bankruptcy Code. Although referred to as the meeting of creditors, some or most creditors do not appear because they are not required. They are also notified before the schedule if they want to attend the meeting and ask questions about the debtor. A creditor who does not attend or decline the 341 meeting does not result in waiving any rights.<\/p>\n

Since the 341 creditor meeting will be presided by a trustee \u2013 they will ask important questions about the bankruptcy petition. Debtors must carefully review their filed bankruptcy petition<\/a> and answer all questions. It is essential to work with your trusted and experienced bankruptcy attorney<\/a> to help you with the process and prepare you for the meeting. If the questions did not answer correctly, or the trustee does not see any truthfulness or lack of evidence, they will drop the petition.<\/p>\n<\/div>\n

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Bankruptcy: 341 Hearing\/Meeting of Creditors<\/h2><\/span>
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How long does a 341 creditor meeting last?<\/h2><\/span>
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Most 341 creditor meetings last for less than an hour, depending on the case. Some cases usually last for only ten to fifteen minutes. When the bankruptcy trustee calls the debtor\u2019s case \u2013 things will move quickly.<\/p>\n

The trustee will ask a few series of routine questions and inquire about the debtor\u2019s situation. They will ask questions like credit history, available and legal assets and properties, and financial condition.<\/p>\n

Since the meeting is a legal process, they are also liable and under penalty of perjury if they did not disclose complete and honest information during the meeting. An experienced Wheeling bankruptcy attorney<\/a> will be able to mitigate and prepare the debtor before the meeting.<\/p>\n<\/div>

Things to Prepare for a 341 Creditor Meeting<\/h2><\/span>
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Appearing at 341 creditors meeting fully prepared will significantly help with the bankruptcy petition. It will also make the process faster for the bankruptcy court<\/a> to process the petition and grant debt relief. Working alongside your bankruptcy attorney<\/a> will help you become more confident and prepare you with the legal documents, and even prepare you for the possible questions that might get asked during the meeting.<\/p>\n

Preparing legal documents.<\/h3>\n

It is crucial to prepare yourself before the creditor meeting. Things or information indicated on your petition must be read and reviewed carefully. If the possible inaccuracy is entered on the petition, it is best to file for an amendment before the 341 meetings. If the latter is not likely due to lack of time, the debtor should be prepared to raise the problem to the bankruptcy trustee\u2019s attention during the meeting.<\/p>\n

You should carefully prepare the bankruptcy petition and bring an approved identification photo, Social Security Number, and any documents that prove any economic changes before filing bankruptcy<\/a>.<\/p>\n

Bringing a set of bankruptcy paperwork for personal reference would be ideal too. Sometimes the bankruptcy trustee will notify the debtor to bring other documents or items to the meeting. If you are unsure of the said items or documents, consulting with a bankruptcy attorney<\/a> is crucial.<\/p>\n

Verifying debtor\u2019s identity.<\/h3>\n

To ensure that the real identity of the debtor is the one who attended the meeting, a debtor must present an original government-issued I.D. such as Social Security Number. The section 341 meeting provides an opportunity for the presiding officer to verify this information. One common issue is failing to list the name exactly as it appears on the license, passport, or government-issued I.D. If these forms, along with the Social Security card number, did not match at the beginning of the meeting, the debtor must file for an amendment and likely have to be called back a second time.<\/p>\n

Typical Questions Asked<\/h2>\n

Typical questions asked during the 341 meetings include:<\/p>\n