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After the 341 meeting is a chapter 7 case done?
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After the 341 meeting is a chapter 7 case done?
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Your Home in Bankruptcy - If you're a homeowner, find out what happens to your house.
Your Car in Bankruptcy - Learn about your options to keep (or surrender) your car.
Using a Bankruptcy Lawyer - Find out if you need a lawyer and how to pick a good one.
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A chapter 7 case is not finished after 341 meeting has been completed. It is generally another six weeks post meeting for a bankruptcy to come to a discharge. The time afterward should be spent living life and working on moving forward.
The Process After the 341 Meeting
This is the time that the trustee takes to finalize their investigation into the petitioners request for relief. This will take up to a month after the meeting has taken place. You may see a note of "report of no distribution" on your case. What this means is that the trustee has finished with your case and is asking that the judge remove them. This is good news for you. The trustee has agreed with your petition, felt there were no assets to liquidate, and that you should be relieved of your debt through discharge.
Post-bankruptcy counseling must be finished with the certificate and form being mailed into the clerk. It must be on file within 45 days after the meeting, but can be done at anytime before then. Other activites that may occur during this time is the objection by any creditors that didn't make it to the 341 meeting. Amended schedules and forms may also be sent in to ensure that any creditors that were left out are on record.
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If you're not sure about the bankruptcy process, have a consultation with a lawyer before filing. They'll be able to assist you with understanding how the bankruptcy process works. Finally, hire one that you feel the most confident with.
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