Bankruptcy Lawyer in Sacramento serving Lincoln describes what to expect when you go to the one meeting that’s required as part of your Chapter 7 or Chapter 13 bankruptcy

As part of your Chapter 7 or Chapter 13 bankruptcy, you’ll attend one court-scheduled meeting often referred to as the “341 Meeting,” given that name because it refers to that particular section of the Bankruptcy Code where its procedures are described in detail.  This is not really a court hearing because it is not conducted by a judge.  The trustee assigned to your case will be there and possibly someone representing your creditors.  The main purpose is to answer in person the trustee’s questions about your assets and liabilities listed on your bankruptcy schedules.

The 341 meeting is a fact-finding meeting — not a test or an inquisition.

Of course, if new or troubling facts come out at the meeting, the trustee or a creditor can file a motion or an adversary proceeding in the bankruptcy court for the judge’s consideration.

However, most 341 meetings are short, sweet, and uneventful.  The debtor does not have to justify filing bankruptcy.

Probably the most serious concerns are this:  don’t be late, bring your social security card and tell the truth.

Financial Freedom Law focuses on Chapter 7 and Chapter 13 debt relief and invites anyone who is spending too much time dealing with creditors, and not enough time dealing with the next steps to financial recovery, to call or email to discuss your individual circumstances.