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341 Meeting of Creditors

The meeting of creditors otherwise know as the 341 meeting is for the most part your day in court. If your Bankruptcy hearing is in Oakland County or Wayne you will go to your 341 in Detroit. If you file for bankruptcy in Genesee or Livingston County you will go to court in Flint. IF your bankruptcy is in Washtenaw County you will have your 341 hearing Ann Arbor. For more information on location http://www.mieb.uscourts.gov/ vistin the US Bankruptcy court website. Most bankruptcy attorneys in Michigan will go to court with you and act as a guide at your hearing.

What actually happens at this hearing is an identification process. For isntance if your bankruptcy is in Flint usually your hearing will be on a Monday or Thursday. If you file for Bankruptcy in Oakland County and you go to Detroit for your 341 hearing it can be any day of the week. Thre is a big differnce in a 341 in Chapter7 and 341 in Chapter 13. Chapter 13 is a little more detailed and a Chapter 7 has a few basic questions.

This is what usually happens, your case is called, you go up and show your social security card and photo ID, they ask you if everything on your bankruptcy paperwork is true, is there any changes, are you employed, can you sue any one. There are a few other questions but every Trustee is different. Bankruptcy attorneys in Flint can take comfort in the fact that there is only one hearing room room, while bankruptcy attorneys in Michigan may have to deal with 2 or 3 hearing going on at once in differernt room. 341 Hearings in Detroit have 4 341 going on at the same time.

A lot of people get nervous about the 341 meeting of creditors. It is Federal Court procedure. But the trust is the hearing do not go before a judge but a Bankruptcy trustee who is just an administrator. The Trustee has certain powers but they are not a judge. The term 341 comes form the section in the US bankruptcy Code that governs the hearing. http://www.law.cornell.edu/uscode/text/11/341.

The biggest thing is having your ID and social security card. Attorneys in Michigan have to email or file to the Trustee copies of your tax returns and paystubs to the trustee 7 days prior to the your 341 meeting. Usually bankruptcy attorneys in Flint email your documents to the trustee or Waye County or Oakland County Bankruptcy attorneys use Collarate a system for documents.

Other documents at the meeting of creditors could be a recorded mortgage, car titles, bank statements, divorce decree, land contracts, or 401 k statements.

My check list usually requests

♦ Tax returns & Paystubs

♦ Recorded Mortgage & Car titles

♦ Deeds, Bank statements,

♦ 401 (K) OR IRA statements

Usually the 341 meeting of Creditors is the only time you will have to appear in Court. But if your case has issues then you will have to appear before a judge in Bankruptcy court.