What is the “341" Meeting of Creditors and what will happen at the meeting?
Our team of geriatric specialists helps you manage your changing health needs as you age. We offer comprehensive primary care and consultations to support patients and families coping with challenging conditions related to aging. Our services include primary care for adults 65 years and older who have neurological conditions such as dementia and cognitive impairment.
The meeting usually takes five to 10 minutes and is fairly informal.
Will I lose all of my stuff? What are exemptions?
When you file bankruptcy almost everything you own goes into a “pot” called the Bankruptcy Estate. The trustee assigned to your case can sell these assets and pay part or all of the debt you owe. Exemptions allow you to take assets out of the “pot” and keep them. Kentucky uses the Federal Exemptions” and they are fairly liberal in what they allow you to keep. Typically most of my clients in the past have been able to keep all of their property, both real and personal. Of course, if there is a lien or mortgage on the property and you want to keep it you must continue to make the payments and reaffirm the debt.
When will I receive my discharge?
In most Chapter 7 cases you will receive your discharge 60 days after the date first set for your Section 341 Meeting. In Chapter 13 cases you will receive your discharge upon successful completion of your Chapter 13 plan.
Please keep in mind the above is not legal advice and no attorney client relationship is formed. The information was correct at the time it was produced but may have changed by the time your are reading it.
Can credit card and medical debts be discharged?
Under most circumstances - yes. Many people tell me they thought the “new” bankruptcy laws did away with discharge of credit card debt. This is not the case.
Can student loans be discharged?
Only in very limited circumstances.
Will my name be published
in the paper if I file?
Bankruptcy filings are public record but as of now, newspapers in our area do not publish the names of those who have filed.
The above is for informational purposes only and is not given as legal advice. The information was current at the time it was published but may well change by the time you are reading it. No attorney client relationship is created by anything contained on this site.For a FREE CONSULTATION please contact my office for an appointment or fill out the form on the Contact