One question I get quite often from folks who are meeting me for a free bankruptcy consultation is: “What is a 341 meeting?” This meeting is brought up whenever Chapter 7 or Chapter 13 bankruptcy is discussed in Centennial, Littleton, or Aurora. In this blog, we’ll take a look at the 341 meeting and discuss other names, what to expect, and why having a lawyer present is helpful.
Meeting of Creditors: Will My Creditors Berate Me?
The 341 meeting is also known as the “meeting of creditors,” or creditor’s meeting in Highlands Ranch, Lone Tree, or Parker. If you file for bankruptcy in Colorado, you are required to appear in court and testify under oath that you will truthfully answer all the questions put to you by your creditors and the court. Now, before you grow terrified of facing all the people and companies you owe money to, there is one thing you need to understand: It is rare that creditors actually show up at this meeting. Think about it: If you have credit card debt with American Express, a representative from the credit card company is not likely to show up at your court appearance. They simply can’t afford to appear at each and every 341 meeting (creditor’s meeting). Usually, the only people who show up at these meetings are ex-business partners, family members, ex’s who want to rant, the IRS, and the Colorado Department of Revenue.
What Happens at a 341 Meeting in Denver Bankruptcy Court
A 341 meeting (creditor’s meeting) will be more like a day spent at the DMV office than a day in court. The bankruptcy trustee will swear you in, and then ask you a series of questions, such as whether or not you have filed bankruptcy before, where you are employed, and your name and address. As your bankruptcy lawyer, I will be there with you.
[pullquote align=”center” textalign=”center” width=”90%”]As your bankruptcy lawyer, I will be by your side at the 341 meeting.[/pullquote]
Why You Need a Lawyer for the 341 Meeting
If you are stressed about filing for bankruptcy and the 341 meeting, don’t hesitate to contact me for a free consultation. I have successfully helped hundreds of families get a fresh financial start through the legal right of bankruptcy. Bankruptcy is a complex process full of confusing paperwork and many rules and regulations. Having the guidance and insight of a professional bankruptcy lawyer who has a thorough understanding of the process is priceless. Working with a lawyer will ensure a smooth bankruptcy process and often results in a larger bankruptcy discharge. If you hire me as your bankruptcy lawyer, I will sit beside you during the 341 meeting, offering support, insight, and advice as to how you should answer the questions put to you. Take the guessing out of filing for bankruptcy, and work with an experienced bankruptcy attorney.
If you are concerned about the 341 meeting in bankruptcy, contact experienced bankruptcy attorney Barry Arrington for a free initial consultation to discuss how bankruptcy can provide a fresh financial start. Contact him today at 303-205-7870.