The Meeting of Creditors Attorney in Royal Oak, Michigan

The 341 Hearing is also known as the Meeting of Creditors. This is the first hearing of an individual who files for bankruptcy cases, particularly chapter 7 ones. The 341 meeting is to be scheduled by a clerk the moment you file a chapter 7 bankruptcy and a few days after filing a chapter 13 bankruptcy.  The hearing is a required part, a judicial step in your bankruptcy case and having a meeting of creditors attorney is a great advantage. 

A 341 meeting or meeting of the creditors is done in order to enable parties to cross-examine you regarding your bankruptcy case in areas such as debt, income, and expenses under oath. The 341 meeting is the creditor’s chance to ask you about your financial activities and how you’ve used the credit. Credit unions typically send attorneys when a member of the credit union files for bankruptcy, their purpose being to propose reaffirmation of debt owed to the credit union. 

Experienced Royal Oak Bankruptcy Attorney

If you have filed for bankruptcy and are in need of a meeting of creditors attorney to consult in terms of bankruptcy law, know that you can always get in touch with a Royal Oak meeting of creditors attorney. Your lawyer will be present when you go to court and provide you with legal counsel and go to court with you to offer representation. 

Get in touch with a Royal Oak meeting of the creditors attorney at Hammerschmidt, Strickradt, & Associates if you need to attend a 341 hearing. Since 2001, the law firm’s attorneys have been helping and guiding families through their financial woes in areas ranging from bankruptcy to wage garnishment to automatic stay. An attorney can help provide guidance in order for you to reach the best possible outcome.

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How would you like to wake up not worrying about your creditors or loan balances? Our Michigan Bankruptcy Attorneys can help you attain new financial freedom! Worried about the cost? We offer payment plans for all budgets and a free credit rebuilding program!

Why do I need a Meeting of Creditors Attorney in Michigan? 

The Meeting of Creditors (341 Hearing)Bankruptcy in its essence is a pretty complicated matter and attending a hearing for chapter 7 or chapter 13 bankruptcy can be quite a daunting experience. This is why having a Royal Oak, Michigan meeting of creditors attorney is absolutely necessary. Entering the court with an attorney by your side makes the experience a lot less intimidating and it’ll give you the confidence you need knowing that you have legal experts on your side. 

A good meeting of creditors attorney can guide you in the questions that you will be subjected to in the hearing, most of which are relevant to your financial activities and situation. If you’re looking for a Royal Oak, MI meeting of creditors attorney, look no further. The attorneys at Hammerschmidt, Stickradt & Associates have 15 years of legal experience under their belts in the field of bankruptcy. 

The bankruptcy lawyers can offer personalized strategies to help you face your financial troubles head-on by implementing outlines for clients to resolve bankruptcy issues and eradicate the burden of debt. Get in touch with a Royal Oak, MI meeting of creditors attorney now. 

What is The Meeting of Creditors?

Whether you’re filing for chapter 7 or chapter 13 bankruptcy, you are required to attend a hearing. This hearing is known as the 341 Hearing or the meeting of creditors. In this process, the debtor must attend the hearing in order to be cross-examined by creditors. This, however, is not a court hearing, rather it is conducted by a trustee in a meeting room. 

There are differences in hearings depending on the kind of bankruptcy your file for. Read below to learn more about what sets apart a meeting of creditors for chapter 7 from chapter 13 and how a meeting of creditors attorney can help you if you are dealing with bankruptcy in Royal Oak, MI.

Chapter 7 Meeting of Creditors

As previously explained, the meeting of creditors is not a court hearing per se. Still, it requires the debtor to attend a meeting conducted by the bankruptcy trustee assigned to your case. In this meeting, the debtor is required to answer questions and provide identification regarding their financial situation.

In chapter 7 bankruptcies, the court schedules the meeting of creditors approximately 21 to 40 days after you’ve filed for bankruptcy. The meeting of creditors is conducted in a federal building or offsite. 

What to Expect at a Chapter 7 341 Hearing?

At a chapter 7 341 hearing, you are expected to review a pamphlet before your turn to speak and complete a short form if you have important debts such as child support. Self-representation in this hearing also requires you to fill-up the form. When the trustee calls, you are required to present identification documents, be present at the table with your meeting of creditors attorney, and take an oath to answer the questions honestly. 

Common questions a chapter 7 trustee asks you include: 

  • Whether you’ve reviewed the petition prior to signing
  • If you have listed all your properties
  • If anything has changed since paperwork filing
  • If there is any money you owe
  • If you are expecting to inherit property. 

Chapter 13 Meeting of Creditors

Chapter 13 bankruptcy is way, way different compared to chapter 7. Chapter 7 bankruptcy involves  liquidation while chapter 13 involves a repayment plan. If you have filed for chapter 13 bankruptcy, you are also required to attend a 341 hearing. A chapter 13 trustee ensures that the debtor pays all of their disposable income. The trustee is also responsible for checking identification, verifying information, asking about documents and financial affairs, and discussing your repayment plan.

What to Expect at a Chapter 13 341 Hearing?

At a 341 hearing for chapter 13 bankruptcy, expect the trustee to schedule other debtors at the time of the meeting. Upon arrival, it is advisable to check the calendar to see when your hearing falls. At the meeting, the trustee takes a roll call and explains the conditions at the meeting. 

At the meeting, the debtor will be subjected to the following: 

  • Asked questions under oath by the trustee and creditors
  • The trustee can either continue or adjourn the meeting. 

Having a meeting of creditors attorney by your side can help you better anticipate the questions they may ask you under oath. 

Call our Meeting of Creditors Attorney Now!

While not an actual hearing on its own, the 341 Hearing or the Meeting of Creditors is a meeting that debtors who have filed for chapter 7 or chapter 13 bankruptcies must attend. In this meeting, the trustees will place them under oath and subject them to questions involving their financial situation. Facing this kind of hearing can be daunting, which is why having a Royal Oak, MI meeting of creditors attorney is absolutely necessary. 

Get in touch with Hammerschmidt, Stickradt, & Associates right now if you have filed for bankruptcy and need to attend a hearing. An attorney can guide you and help you answer the questions trustees and creditors might ask you, ensuring a smooth sailing process.