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Meeting of Creditors 341 Bankruptcy Hearings, San Diego Bankruptcy Attorney - YouTube
Channel: The Law Office of Andrew H. Griffin,III APC
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Hello, my name is Andrew Griffin and I am a bankruptcy lawyer in the San Diego area
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and today I would like to talk to you about the questions many clients have about meetings of creditors or
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341 bankruptcy hearings in a Southern District of California
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If you have any questions regarding your unique situation pick up the phone and call us we can help you figure out your options
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The bankruptcy meeting of creditors may be a daunting prospect for debtors
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It is common for my clients to ask me
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What questions will they ask me at the court hearing? I must attend. How long does it last?
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Well, the judge didn't I my case at the hearing do I really need to attend?
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These questions and many more seem to be asked by every debtor
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I mean, so let's get to the bottom of this and explore the meeting of creditors for debtors in a Southern District of California
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Familiar creditors or 3/4 to an a hearing the technical term of the hearing under the Bankruptcy Code
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Seems to be the most feared part of bankruptcy for the majority of the clients that I see
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But the truth is that creditors meeting is generally the most
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non-eventful part of the bankruptcy case
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Yes, you must be physically present and must physically attend unless you qualify under one of the four exceptions one
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You're dead
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Two you are in prison three, you are mill in military deployment or four you are medically unable
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Unless you qualify under one of these assumptions
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Exceptions you will need to be at the hearing which is scheduled approximately 30 days after the bankruptcy cases files
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How long does it last well, it depends I've seen some lasts under 30 seconds others
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I've seen lasts over an hour the majority of cases about 90% generally lasts two to four minutes each
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There are about 12 to 16 cases called each hour on the hour generally from 9 a.m. To 4 p.m
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Some trustees are quick. Some are generally extremely slow
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Because of which trustee you get the results seem to be the same
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Chapter seven cases are generally quicker than chapter 13 cases in the Southern District of California
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Bankruptcy court there are six Chapter seven trustees and two chapter 13 trustees
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there are two very
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Super fast chapter 7 trustees, there are there is one extremely slow trustee
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The other three are someone in the middle
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There is no judge present at these hearings
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That would be unlawful because it is forbidden in the bankruptcy rules in most cases
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You will never see the judge rather
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You will meet your trust your case trustee at the hearing all the trustees
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Here have financial backgrounds of some various degrees some not even lawyers
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many of them also file directory cases for other debtors as
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Well and still sit with their clients before other trustees with all the other attorneys
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Sometimes evict the meetings are continued
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Generally, your attorney will be able to give you a heads up if you could expect a continuance
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now the most common reasons for continued hearings are a
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Debtor that does not show up or shows up late
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The failure to list all your assets the failure to send in
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Supporting documents of the trustee the failure to list all your creditors the critic if the credit card debt is over
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$100,000 the failure to bring a government-issued ID and proof of Social Security number and
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and
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Higher than normal or higher than usual income?
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Now what type of questions do they ask? So who's present at these hearings other than the trustee other debtors and their attorneys?
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Very rarely will its creditors show up even though they're that's the name of the hearing a creditors of hearing
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This is because very little can be done at the at by the creditor at the hearing
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Generally, if a creditor has a problem with your case, it will not take place at the creditors meeting
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But rather in the actual Bankruptcy Court, and after a separate lawsuit is filed
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Also even now in every now and then
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An additional person from United States trustees office may come in and ask a few questions to individuals with higher than usual
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income or debt loads
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it's a very busy place with 30 to 60 people filtering in and out each our
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Debtors come in they come in from all walks of life
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Some are on wheelchairs others do not speak their English. Some are 10 new teenagers, others are in their 90's
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No one is immune from the bankruptcy and by the same token immune from those hearings. So what will they ask as?
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Far as in San Diego as far as San Diego is concerned expect the following questions
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State your name and address for the record. Did you list all your assets? Did you list all your debts?
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Did you list all your income? Is there any reason to make any changes to your schedules?
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Have you transferred any property or money to any family members in the last year? Are there any creditors present?
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No
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Thank you. Your meeting is concluded next and
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so it goes
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One time I've seen a trustee locally conclude 15 of my hearings in 20 minutes. It was like a cattle call
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I
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Could not even keep up with the moving
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Moving one file off the desk before I had I could put these next file on the desk the bottom line
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is that these trustees are only doing their jobs a
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Chapter 7 trustee gets $60 per case. They handle it comes out of the
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$335 filing fee or about
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$900 per hour on the Omni calendar they rotate during these hearings every couple of weeks. And so
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$900 times six hours times twice per month is ten thousand eight ten thousand eight hundred dollars to run their entire office and staff
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It's not much
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That is why their biggest focus is on the unwary that have too many assets if they sell an asset the trustee gets
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25 percent of the first five thousand dollars
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Ten percent of the next forty five thousand five percent of the amounts past 50 thousands
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Collect a hundred thousand dollars on a case and they get eight thousand two hundred fifty dollars
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so just one chapter 7 case with $100,000 acid is like doing
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137 hearings now you really know their motivation. So what's the bottom line?
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prepare for the hearing
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Spend at least an hour going over your practice repetition and schedules
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Be intimately familiar with those as well as your income for the last six months
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Always always always tell the truth. Don't hide anything
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Be straight the trustees have provided presided over
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Thousands and thousands of hearings
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they can smell an honest debtor from when trying to play tricks as
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long as you tell the truth and follow your attorneys advice, it will be over quicker than you know,
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If you need more information about filing bankruptcy
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Click on the link or call us at the number below and we'll be glad to provide to you from with more information
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My name is Andrew Griffin, and I want to help you by relieving your financial burden
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