What questions do they ask at a 341 meeting?

What questions do they ask at a 341 meeting?

8. Trustees Are Required to Ask Standard Questions at the 341 Meeting.

  • Did you review your bankruptcy schedules prior to signing?
  • Are your bankruptcy schedules true and accurate?
  • Did you supply this information to your lawyer?
  • Do you have to make any changes to your schedules?

When do you need to file a chapter 13 bankruptcy?

If a debt management plan is developed during required credit counseling, it must be filed with the court. A chapter 13 case begins by filing a petition with the bankruptcy court serving the area where the debtor has a domicile or residence.

Who is the trustee in a chapter 13 bankruptcy?

In a Chapter 13, the bankruptcy trustee functions as a plan administrator, who receives the filer’s monthly payments and distributes the funds according to the Chapter 13 repayment plan approved by the court.

Is there an automatic stay in Chapter 13 bankruptcy?

Chapter 13 also contains a special automatic stay provision that protects co-debtors. Unless the bankruptcy court authorizes otherwise, a creditor may not seek to collect a “consumer debt” from any individual who is liable along with the debtor. 11 U.S.C. § 1301 (a).

Do you have to appear at a chapter 13 hearing?

The provisions of the Chapter 13 “plan” give more material to discuss with the trustee and more reasons for creditors to attend. But it’s still not a court hearing. Because a Chapter 13 case lasts for years, things can come up during the course of the case requiring Bankruptcy Court involvement.

Why should I consider a chapter 13 bankruptcy?

  • you are protected from legal actions against you through something called the “automatic stay.”
  • Chapter 13 bankruptcy allows you to keep certain property that you might lose otherwise.
  • Lower Your Debt.
  • Protect Other Areas of Your Life.

    Why should someone file a bankruptcy Chapter 13?

    • Flexibility: you can dismiss the case at any time or even convert it to a Chapter 7.
    • A Chapter 13 will save a house from foreclosure as long as you can make the payments.
    • You can strip a wholly unsecured second mortgage; or value a car if you’ve had it more than 910 days.
    • You can challenge the costs added to your mortgage by the lender.

      What do you need to know about a chapter 13 bankruptcy?

      The Bottom Line Most debtors file either Chapter 7 or Chapter 13 bankruptcy. You’ll typically file for Chapter 13 if you can’t pass the means test to get Chapter 7. While Chapter 13 makes your payments manageable, many debtors fail to finish their repayment plan. You are responsible to pay all your other non-bankruptcy bills while you’re in your Chapter 13 plan.

      What are the requirements for filing a chapter 13 bankruptcy?

      To meet Chapter 13 requirements, a debtor must provide proof of filing state and federal income tax returns for the previous four years. At least seven days before the first meeting of creditors, the debtor must provide the trustee with a copy or a transcript of the most recent federal tax return filed with the IRS.