So many of my clients are worried about what will happen at their 341 hearing.
There are many reasons you are scared. Many of you have never been to court. The hearing is called the “Meeting of Creditors” so many of you think American Express is going to come interrogate you about every coffee you have ever purchased at a Starbucks.
Don’t worry. Do not let this hearing keep you up at night.
Your hearing is not something to worry about. You will be in a conference room with twenty people just like you, a trustee will be sitting at a conference table, they will ask you a series of questions that we have already sent you and aren’t designed to trick you, and you will leave afterwards and be DONE….
Unless of course any of the following apply to you:
1. You have a private jet you failed to tell me about.
2. You plan to wear a $25,000 engagement ring to the hearing.
3. You transferred $25,000 to your brother’s checking account 4 days before you filed bankruptcy.
4. You deposited a signing or moving bonus of $20,000 to your checking account three days before you filed.
5. You were given a Jaguar as a birthday gift by a relative after you filed.
6. You took a $50,000 second mortgage and went on a shopping spree three weeks before you filed.
7. You took a personal loan from your credit union and went on a shopping spree before you filed.
8. You continuously changed the name of your business in order to dupe a supplier into selling you more stuff when you owe them money.
9. You have called my office and asked for permission to buy more jewelry on a Kay Jewelers card just one more time and want to know how long you need to wait to file to get to keep said jewelry without that being a problem.
So as you can see unless you were out doing naughty things before you filed a bankruptcy case you will probably be ok at your hearing and can get through your hearing and the close of your case fairly easily.
So try not to worry too much about your hearing, we will get you through.