341 Meeting Questions (Court or Meeting of Creditors) in Raleigh, NC – What Happens?
A 341 Meeting (also Meeting of Creditors) in Raleigh, NC
A 341 Meeting, often referred to as “court,” is a crucial step in the bankruptcy process. However, it is important to note that it is not an actual court proceeding. Rather, this meeting involves direct interaction between you and a bankruptcy trustee, without the presence of a judge. While the trustee is typically an attorney, there is also the possibility of a certified public accountant (CPA) fulfilling this role. At Cameron Bankruptcy Law, we understand the significance of the 341 Meeting and can guide you through this procedure with our experienced team of professionals.
The meeting with Cameron Bankruptcy Law is a brief and essential step, typically lasting just a few minutes. Rest assured that with a skilled attorney, it is mainly a formality. Though the exact timing of your appointment is uncertain, it is advisable to plan for having the morning off.
Your 341 meeting at Cameron Bankruptcy Law will join a multitude of other 341 meetings, typically crowded with individuals filing bankruptcy and their legal representatives. The court calendar is not a reliable source for determining your meeting time.
You will receive your 341 Meeting date shortly after filing for bankruptcy with Cameron Bankruptcy Law. This important meeting is typically scheduled around 30 days after filing. It is crucial that you attend this meeting, but if you are unable to make it, please ensure you contact your attorney promptly. Failure to do so could result in the dismissal of your case.
Many clients ask if we will be there with you.
Of course! We take care of you, and hold your hand through the process. We don’t just file the paperwork.
What to Bring to the 341 Meeting
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- Bring a picture ID. (Acceptable identification includes: driver’s license, government-issued pictured identification, passport, or permanent resident alien card.) to your 341 Meeting
- Bring Proof of Social Security Number to your 341 Meeting. (Acceptable documents include Social Security card, current W-2 forms, or wage statements including full SSN.) You can get a new Social Security Card by calling 1-800-772-1213 or go to www.ssa.gov.
- Copies of your deeds and mortgages. (Tell your attorney if you are on the deed of someone else’s real estate.)
- Copies of titles to all vehicles, jet skis, trailers, or boats titled in your name. (Tell your attorney if you are listed on the title of someone else’s vehicle.)
- Any paperwork that should have been submitted earlier, and copies of what you submitted — just in case!
- If your spouse is filing jointly with you, bring him or her to your 341 Meeting.
- DON’t BRING A CELL PHONE, LAPTOP, OR CAMERA.
- DON’t BRING ANYTHING THAT COULD BE CONSTRUED AS A WEAPON – even a pocket knife!
- DON’t BRING CHILDREN.
- Scout out where it will be held and where to park BEFORE the day arrives.
- Arrive early.
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Your bankruptcy case may be dismissed if the requested documents are not provided within the specified time frame. Failure to attend your hearing can lead to the dismissal of your case. Trust Cameron Bankruptcy Law to guide you through the process and ensure that all necessary documentation is submitted on time and that you receive the legal representation you deserve.
Dress appropriately for your hearing in Federal Court at Cameron Bankruptcy Law. Avoid wearing cut-offs, jeans with holes, or flip-flops. While suits are not required, it is important to dress in business casual attire, such as polo shirts, khaki pants, or dress blouses. Show respect for the process and remember that you will be under oath, so honesty is crucial. Keep in mind that what you wear to the 341 meeting is not as significant as the potential consequences if convicted of a Federal Bankruptcy crime.
Typical Question Asked At 341 Meetings
Get ready for your 341 hearing when you file for bankruptcy with Cameron Bankruptcy Law. This important hearing will take place approximately three to six weeks after you file, and you’ll receive a notice by mail with the date and time about 10 days after filing. Remember, attendance is mandatory for all bankruptcy filers. Missing the hearing could result in the dismissal of your bankruptcy case and the need to repay filing and attorney fees if you decide to file again. Arriving a little early is advised so you can familiarize yourself with the questions asked and prepare for your turn. Typically, the trustee will inquire about the following matters.
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- What is your name?
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- What is your address?
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- What is your Social Security Number?
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- Did you list all your assets and all your debts?
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- Do you understand what a reaffirmation is?
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- Do you understand what the effects of a bankruptcy are?
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- Have you given any property to the Trustee?
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- Have you recently won the lottery or inherited property?
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- Have you given away or transferred any property within the two year?
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- Do you understand what a Chapter 13 is and did you consider it?
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- Do you understand what a discharge is?
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- How much is your home worth?
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- Are you expecting a tax refund, or does any owe you any money now?
Creditors may appear and ask questions
Creditors may occasionally attend the 341 meeting to inquire, but it is uncommon for them to do so. In the event that a secured creditor is present, their primary concern is usually whether or not you desire to reaffirm. We strongly advise against reaffirming unsecured debts such as credit cards and medical bills, unless you have a compelling reason. Our attorney will need to review and sign any reaffirmation, ensuring that it is in your best interest. Reaffirming unsecured debt is rarely beneficial and should be approached with caution. At Cameron Bankruptcy Law, we prioritize your best interests above all else.
Things NOT to say at a 341 Meeting
These are things NOT to say at 341 meetings that have been collected by Attorney Nick Thompson of Kentucky (used by permission). For some unknown reason, possibly due to the pressure of the meeting, these individuals unintentionally blurted out these statements to their own disadvantage. Occasionally, what they said turned out to be untrue, yet the Trustee remained unaware. At times, it was indeed true, but they neglected to inform their attorney prior to filing. On other occasions, their statements were merely embarrassing.
At Cameron Bankruptcy Law, we take immense pride in equipping our clients with the utmost knowledge during the crucial 341 meetings. However, the key to our success lies in your complete transparency. It is absolutely imperative that you share every detail with your attorney and approach your 341 meeting with unwavering honesty. Surprising us with undisclosed information, as some have done in the past, puts your asset protection at risk. Rest assured, we leave no stone unturned in our efforts to ensure comprehensive coverage and accuracy, but ultimately, your active participation is paramount.
Read these, laugh, and make sure you do not make the same mistakes!
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- “You are not going to check how much my house is worth are you?” (The Trustee did just that after that strange statement.)
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- “Why did I file? Well, I guess I really didn’t need to, I make enough money.” (That response caused a lot of questions to be asked about why the person did not file a 13.)
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- “I really earn twice that, but I didn’t want my wife to know what I really earn because it would increase my child support.”
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- “I thought you’d ask me to turn that stuff over to you, so I gave it to my Mom.” (Mom got hauled in and had to give it back.) – said at a 341Meeting
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- Said at a 341 Meeting: “Yes, I won the million dollar lottery, but I bought that winning lottery ticket the day before I filed, and I did not know I won until after that.” (He owned the ticket before he filed. His bankruptcy was voluntarily dismissed and he had to pay his bills.)
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- Said at a 341 Meeting: “Do we have to consider the rent that I get from my home? I really don’t live in my home, I just rent it out to my brother.” (In North Carolina, you have to live in your own home to exempt it as your homestead. This guy could have lost his home.)
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- “Dad only put the 23-meter boat in my name just so he could get insurance on it. He lives in Chicago and someone locally had to have it in his name to get insurance.” (This person actually filed the bankruptcy and kept the boat, free-and-clear, because it was his Dad’s. He was very lucky in that case!)
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- “My Attorney warned me to list all my assets.”
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- “Yes, I’m interested in real estate.” (Answered to “Do you have any interest in real estate?”)
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- “I pawned the secured item just before I filed.” (He had to pay for it.)
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- Said at a 341 Meeting: “Yeah, I got over $1000 as a cash advance on my credit card just before I filed because I knew it would be my last chance to grab some.” (He had to pay it back. If he had waited 10 more days to file, he would have been within the rule and would have kept the money.)
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- “I knew Mom was dying, and I was going to inherit all the big dough, so I charged it up, rushed out, and filed just before she died.” (No, that one did not go through.)
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- “Sure, I understand what a discharge is. The wife had one last month, but aren’t you getting a little personal?” (Yes, it was actually said at a 341 Meeting.)
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- Said at a 341 Meeting: “That loan that I took out just before I filed? Yeah, I knew I was filing bankruptcy when I took it out.” (He had to repay it.)
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- “My house is worth at least $380,000!” (She bragged about how much her house was worth when she did not know what it was worth at a 341 meeting. She had to pay for an appraisal to keep it after that.)
What Happens After My 341 Meeting?
- Complete financial management course required after your 341 Meeting.
- Complete reaffirmations with required counseling if not already finished.
- Complete intentions as stated in “Statement of Intentions”.
- Before your 341 Meeting, save up enough money to cover payments on debts you plan to reaffirm. This will allow you to catch up if necessary when a reaffirmation offer is made. If you plan to redeem your car, consult with your attorney to determine if any additional payments are necessary or if a lump sum payment can be made to repurchase your vehicle.
- Do not release any property to a Creditor until you are told to (usually, at the 341 meeting which is about 3-6 weeks after you file).
- If a secured Creditor contacts you, you may consider discussing a reaffirmation or redemption, or alternatively, provide them with instructions on when and where to retrieve their security, if advised by Cameron Bankruptcy Law. Although it is uncommon, secured Creditors may attend the 341 hearing to negotiate reaffirmations.
- If you receive calls from unsecured Creditors who are unaware of your bankruptcy filing, please inform them to contact our office. In instances where they persist in calling you, it is advisable to record the conversation to provide evidence for legal action. Remember, we rely on you to gather proof of intentional violations of the court order. Unfortunately, some individuals or companies may disregard the law and deny making such calls. Thus, having recorded conversations can be crucial. While we do not seek litigation against Creditors who make minor or unintentional mistakes, we are committed to holding accountable those who blatantly ignore the law. Some Creditors have even resorted to deceptive tactics, such as falsely claiming a death in the debtor’s family to prompt a call back. We strongly advise against entering into reaffirmation agreements with unsecured Creditors unless they are signed by your Attorney or approved by a Judge. At Cameron Bankruptcy Law, we prioritize your protection and the enforcement of your rights.
- Obey all orders from the Court and the Trustee, and fill out your paperwork honestly.
- Remain current on secured debt payments if you intend to keep the collateral. Due to the automatic stay, automatic debits may stop and you may stop receiving bills for those debts. You will need to remember your due dates, and pay the creditor directly “the old fashioned way” until automatic payments can be resumed.
- Take $500 of your money and secure a loan at a trusted bank with no early payment penalties. Repeat this process a few times, ensuring timely payments for 3-4 months. Afterward, close the accounts and retrieve your money. By following this strategy, you can have these reputable banks report your faithful payments to the credit bureaus, offering you a valuable boost in your credit history. Choose Cameron Bankruptcy Law for expert guidance and support in managing your financial future.
- If you have a stable and sufficient income, you should be able to obtain a mortgage within two years (or three years in the case of foreclosure) after your 341 Meeting in a Chapter 7 bankruptcy. It is crucial to make all post-bankruptcy payments on time and seek assistance from your bank to rebuild your credit. At Cameron Bankruptcy Law, we understand the importance of reestablishing financial stability and offer expert guidance throughout the process.
- PLEASE! Refer your friends to Cameron Bankruptcy Law or write a brief online review!
