BANKRUPTCY "341 MEETINGS" 
Wednesday, November 6, 2013, 11:49 AM
Posted by Administrator
If you file a Chapter 7 Bankruptcy, you'll need to go to a "341 Meeting" about one month after you file. The "Meeting" will be in an office/medical building on Flagler Drive....the 3rd building South of Good Samaritan Hospital/where-PalmBeachLakesBlvd.-dead ends at the Intracoastal. You will travel by elevator to the 8th Floor and then walk a few feet to the North of the elevator and through a door marked TRUSTEE'S MEETING ROOM. There will many, many chairs set up in rows.

To the left of the door there is a glass case with some pages stapled inside. Read the pages. On a small, folding table in front will be a sheet of paper with a few questions and boxes to check.

Usually, the court appointed Trustee will call your case more-or-less on time. Sometimes, you've got to wait a while as the cases before you drag on. When your case gets called, you will walk into another room. This one has it's chairs along the walls and three tables in the middle forming a "T". Unless you're first, have a seat in one of the chairs along the wall.

When your case is called, the Trustee will have you raise your right hand and swear you in. You'll hand over your DRIVER LICENSE and SOCIAL SECURITY CARD. Then, you'll be asked some questions:
-Did you read your Petition and Schedules before you signed?
-Did you include all of your creditors and all of your assets?
-Is everything true/do you intend to make changes?
-How did you get into financial trouble?
-Have you ever filed bankruptcy before? (I think the rule, now, is...at least 8 years between "discharges"....probably less time in between if your case was dismissed.)
-Did you read the TRUSTEE'S INFORMATION SHEET? (That's the pages in the glass case that I told you to read.)

The Trustee's job is:
A) To make a preliminary determination that you aren't lying, cheating, stealing, defrauding....and to advise the court/FBI if you likely are.
B) To see if you have assets that ought to be taken and liquidated with the proceeds distributed to your creditors. (You can keep a lot of things in a Chapter 7 bankruptcy but not everyone can keep everything they've got....telling you what exactly to expect on this issue is your lawyer's job.)

Creditors can come to the "Meeting" and ask questions but it's rare that they do.

Usually, when the Trustee says "This meeting is concluded.", your participation in your Bankruptcy is pretty much over. They'll still be time limits that have to run but, to paraphrase Churchill: the 341 Meeting isn't the end of the Bankruptcy, but, it is the beginning of the end.

Note: What Churchill, Prime Minister of Great Britain at the time....with Britain pretty much in the middle of losing WW2 to Germany....actually said was: "THIS IS NOT THE END. THIS IS NOT THE BEGINNING OF THE END. BUT, IT IS, THE END OF THE BEGINNING." Britain had, finally, won a significant battle. He wanted them to celebrate the victory...but not too much.


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