Section 341 Meeting of Creditors

• When you file your Chapter 7 bankruptcy petition, the court will provide you with the time and location of your Section 341 meeting of creditors. In California, your meeting will typically be 30 to 40 days after your filing date. Creditors rarely appear at the meeting, which generally last just a few minutes and consists of answering a few routine questions from the bankruptcy trustee about your petition. The meeting of creditors is typically the only time you will have to appear before any court officials.
  
  

Objections

• A Chapter 7 bankruptcy case will usually proceed uneventfully towards discharge, which is your objective. The one thing that can derail your case is if someone objects to your petition. Objections typically come in one of two forms, an objection from your creditors or an objection from the United States Bankruptcy Trustee. Both creditors and the trustee have 30 days after the 341 meeting to object to any exemptions you listed on your petition. Your creditors have 60 days to object to any of your debts from the date of your 341 meeting, while the U.S. Trustee can object to any part of your petition up to 60 days after your meeting. (see References 1,3,6)
  
  

Financial Management Course

• In 2005, bankruptcy law changed to include additional documentation on part of the debtor to achieve discharge. One of the changes was the requirement that you attend a court-approved financial management course within 45 days of your 341 meeting. Numerous providers are available in California, such as SurePath Financial Solutions. (see Reference 3)
  
  

Discharge

• Within 60 days of the filing date of your petition, you are entitled to bankruptcy discharge if you have had no objections to your case. In busy California bankruptcy districts, you may not actually receive the physical discharge papers until 90 or more days after your petition. However, as long as the 60-day deadline has passed without incident, you are entitled to the benefits of the discharge. (see References 1,3)