The answer to this question is one that you may typically see on posts on this site, it depends.
As many of you know from review of this blog, a 341 meeting of the creditors is a hearing that takes place after you file for Chapter 7 or Chapter 13 bankruptcy. The meeting of the creditors allows the U.S. Trustee to verify the affirmations made in your bankruptcy petition, and it also provides creditors an opportunity to object to your bankruptcy petition. The U.S. Trustee generally has two dockets, a morning docket and an afternoon docket. Let’s assume that your bankruptcy hearing is scheduled for 1 p.m. If such is the case, the U.S. Trustee will hear a number of cases at that 1 p.m. time slot. The next time slot is usually an hour later. So, it will occur at 2 p.m. A one hour time slot before the U.S. Trustee can often include up to a dozen cases or more.
A 341 hearing can be as fast as 2 minutes long, to as long as even 10-15 minutes depending on the complexity of your case, and the clarity of the content within your bankruptcy petition. The goal is to be in and out of the hearing. Nevertheless, some cases simply require more time with the U.S. Trustee. A Chapter 7 hearing is usually a one shot deal, that is if your paperwork is completed and filed properly, and there are no complex issues that come up. A Chapter 13 hearing can turn into multiple hearings quite easily. This is because this requires a reorganization plan and much more careful and concise planning.
Having an experienced attorney with you at the hearing can make a huge difference. I can’t tell you the number of times where individuals who file the papers themselves get confused and oftentimes blatantly instructed by the U.S. Trustee that they should find an attorney. Contact us today to learn more.