Once all of your paperwork is completed, you’ve gathered all pertinent documentation, and taken your pre-filing credit counseling course, your 341 Meeting with the court trustee will be scheduled.
This may sound intimidating, but the trustee is simply gathering additional information from you and asking questions about any circumstances that may be unclear. You won’t be interrogated, and your attorney will be there to assist you if you’re unsure how to answer any questions that could come up.
The Oregon 341 Meeting Timeline
As soon as your case is filed, you’ll be given the date and time of your 341 Meeting and assigned a case number. For a Chapter 7, the meeting will be sometime between 21 and 40 days of your filing date. the meeting for a Chapter 13 is scheduled within 50 days of filing.
The meeting will take place at a federal building rather than a traditional courtroom. The trustee will be looking for signs of bankruptcy fraud, but their main goal is to review the details of your case and evaluate any non-exempt property.
The Day of Your Meeting
Your attorney will meet with you immediately before your meeting, which will give you the opportunity to ask any last minute questions. It’s absolutely necessary for you to bring your State ID and social security card with you. If you do not, your meeting will need to be rescheduled, which delays your debt discharge.
Once your name is called, you and your attorney (and your spouse, if applicable) will speak to the trustee. They will ask you to confirm your name and date of birth and will then swear you in for this legal proceeding. This meeting is usually very short and typically lasts no longer than 10 minutes. The trustee will already have reviewed your case, so only needs to ask questions about anything that was unclear.
When evaluating a Chapter 13, the trustee will examine your proposed budget to ensure your repayment plan is reasonable. For a Chapter 7, the trustee will verify the details of your means test to make sure that you truly qualify for this type of bankruptcy. They will also determine that some of your non-exempt property will need to be sold to repay creditors, but you will discuss this with your lawyer ahead of time.
It is a rare case, but creditors or others you owe money to may attend the 341 Meeting.
Making a New Start
The 341 Meeting is the final big step in getting your case resolved. If you’ve filed a Chapter 7, your eligible debt will be discharged in just a few months. If you’ve chosen a Chapter 13, your repayment plan will start sooner than later. This will make your monthly debt payments more manageable.
If you’re ready to move toward a healthier financial future, contact a professional attorney so that you can discuss your options.