{"id":36876,"date":"2022-03-06T05:36:13","date_gmt":"2022-03-06T13:36:13","guid":{"rendered":"https:\/\/pdxlegal.com\/?page_id=36876"},"modified":"2022-03-16T05:46:35","modified_gmt":"2022-03-16T12:46:35","slug":"the-meeting-of-creditors","status":"publish","type":"page","link":"https:\/\/pdxlegal.com\/the-meeting-of-creditors\/","title":{"rendered":"The Meeting of Creditors (341 Hearing) In Portland"},"content":{"rendered":"
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What happens at a creditors meeting?<\/strong><\/div>\n<\/h2>\n
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Filing bankruptcy, be it Chapter 7 or Chapter 13, may be the last option you consider when you are struggling financially, but sometimes it could be your best option. If you are considering filing for bankruptcy or already have then make sure that you are familiar with the meeting of creditors. This is the meeting that you will have with the trustee who is responsible for approving or denying your bankruptcy.<\/p>\n

A hearing is held with your Bankruptcy Trustee, which is usually scheduled a few weeks after your bankruptcy petition is filed. This hearing, otherwise known as the 341 meeting or 341 (a) First Meeting of Creditors, is conducted by a Federal Court trustee who has been appointed to ask you questions about your debts, assets, claims, and property, as well as your financial situation. A bankruptcy attorney in Portland<\/a> can help you prepare for your meeting with creditors. <\/p>\n<\/div>\n<\/div>\n<\/div>\n

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What to expect in a creditors meeting<\/strong><\/div>\n<\/h2>\n
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You will want to come to the hearing 30 minutes early so that you can listen in on hearings that are taking place before your own. This is critical since the questions are the same, and you can prepare yourself by thinking about how you will respond to the same questions.<\/p>\n

In order to testify truthfully throughout the interview, you will be sworn in under oath at the start of the session. The majority of the questions can be answered with a simple yes or no. Please notify the trustee if you do not understand a question or if you believe the question should be repeated.<\/p>\n

There are no humiliating or trick questions during the hearing. In order to represent you during the proceedings, your attorney from Michael D. O\u2019 Brien & Associates will be in attendance. Although your attorney is unable to provide answers to your questions, they are there to guide you through the process and ensure that all issues are resolved. You can find a list of frequently asked questions below.<\/p>\n

– Do you have any rights to or claims on the proceeds of an inheritance within the next six months?<\/p>\n

– Do you have any claims against third parties, such as a personal injury claim stemming from a motor vehicle accident?<\/p>\n

– Have you repaid any family members in excess of $600.00 in the year preceding your bankruptcy filing?<\/p>\n

– In the last four years, have you transferred or gifted any property to friends or relatives?<\/p>\n

Additionally, you may be questioned how much you believe your home or vehicles are worth and how you arrived at that conclusion.<\/p>\n

Your attorney will already discuss these identical points with you while the bankruptcy schedules were developed and reviewed prior to filing your case. The 341(a) creditor meeting lasts approximately ten minutes, but it is critical to the bankruptcy process and your gaining a clean slate from your debts. Please feel free to schedule a phone case evaluation with  bankruptcy attorney at Michael D. O\u2019 Brien & Associates if you have any questions or concerns about the 341(a) meeting of creditors or about your case in general. We are here to assist you in making a fresh start.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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What to bring<\/strong><\/div>\n<\/h2>\n
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Please note that the filing date is NOT the date in the upper right-hand corner of the court notice you received; it is indicated on the first line directly below the darkened area towards the top of the notice. Additionally, the court will inquire about tax refunds.<\/p>\n

Bring COPIES of the following related documents with you, not ORIGINALS, regardless of whether you have previously given them to your bankruptcy attorney:<\/p>\n