Before you can resolve your debts in bankruptcy, you’ll need to attend what is known as the 341 hearing. This hearing is a formal meeting with creditors that usually takes a few minutes. However, you should begin preparing for this meeting early on to ensure that it goes smoothly. In this blog, we explain what steps to take to help you prepare for your 341 hearing.
Mark Your Meeting on a Calendar
Once you file for bankruptcy, you will be notified of your meeting date. 341 hearings are typically scheduled 20 to 40 days after your initial claim. Your hearing is mandatory, so make sure you do not miss it! Missing your hearing can result in your bankruptcy case being dismissed. Be sure to put the date of your meeting on a calendar and make the necessary arrangements that will allow you sufficient time to prepare for and attend the meeting.
Gather and Submit All Supporting Documents
The bankruptcy trustee is responsible for verifying your financial information and will require you to give them documents before your hearing. Most trustees will need your:
- Tax Returns
- Pay Stubs
- Property Valuations
- Mortgage & Car Loan Statements
- Vehicle Registrations
- Retirement & Bank Account Statements
Bring All Required Documents to Your Hearing
You will need your ID/ driver’s license and social security card to verify your identity. Do not forget to bring these documents to your 341 hearing. You will also need your bankruptcy petition. You should review all of your bankruptcy papers prior to your hearing to ensure they are accurate.
Your trustee might also ask you more questions about your income, assets, expenses, debts, or other financial affairs. The more you review your supporting documents, the better your ability will be to answer their questions.
Do you have more questions about 341 hearings? We can help. Contact our Jacksonville bankruptcy attorneys, or call (904) 770-3141 to start your free initial consultation today.