Negotiating With Creditors

Debt Settlement Can't Protect You from Being Sued by Credit Card Companies

People often turn to debt settlement or debt consolidation agencies in a good faith attempt to pay back their debts.

Documents Needed For The Meeting of Creditors

Whether you file for Chapter 7 or Chapter 13 bankruptcy, you must attend a mandatory hearing called the meeting of creditors (also called the 341 hearing).

Questions to Expect at the 341 Meeting in Your Bankruptcy Case

During your bankruptcy case, whether you file under Chapter 7 or Chapter 13, you will have to attend a meeting with your creditors and the bankruptcy trustee in charge of your case.

Can I Choose Which Creditors Get Paid First in My Chapter 13 Plan?

If you file for Chapter 13 bankruptcy, you will repay creditors, in part or in full, through your Chapter 13 plan over three to five years. You cannot decide the order in which your creditors are paid. Instead, bankruptcy law sets forth the order that your bankruptcy trustee must pay your debts. Usually

Bankruptcy Preference Payments to Creditors

In bankruptcy, a preference payment occurs when you repay a creditor within a certain period of time before you file for bankruptcy. If you make a preference payment (also called a preferential transfer), your bankruptcy trustee may be able to get the money back from the person or business you paid – called “avoiding” the transfer.

After the 341 Meeting Is My Chapter 7 Case Closed?

Once you file for bankruptcy, you are required to meet with your trustee and creditors before the bankruptcy court can rule to discharge your debts. This meeting is called the 341 meeting, the meeting of creditors, or the creditors' meeting. The 341 meeting is the only time the trustee and creditors can ask you questions while you are under oath and on record.