What is a 341 Hearing in Nevada?
When you file for Chapter 7 or Chapter 13 bankruptcy, your attendance is mandatory in a 341 hearing as stipulated in Section 341 of the Bankruptcy Code. It should be clear that this is not a court hearing but a meeting between you and your creditors, run by your bankruptcy trustee.
What Happens During the 341 Meeting?
At the hearing, the trustee will have to verify your identity. This is a necessary step taken to avoid cases of mistaken identities. Questions about your bankruptcy filing will also be asked. Remember, you will be under oath during the hearing, so you have to provide legal proof of identification and answer questions truthfully and to the best of your knowledge.
The hearing may last 30 minutes, but there might be other trustees holding meetings simultaneously with your schedule. Normally, your hearing will be over in 10 minutes or less when this happens.
What to Bring During The 341 Meeting
As the trustee will have to verify your identity, bring the following documents as proof:
- government-issued photo identification; and
- Social Security Card and/or other proof of your Social Security Number.
Aside from identity verification, questions on your filed bankruptcy petition will also be asked. Prepare to bring the following:
- bankruptcy paperwork as your basis and reference; and
- documents that will show evidence of a financial change since filing your petition.
What Questions Will I Have to Answer?
During the meeting, questions based on your filed petition will be asked by the trustee. These routine questions are asked to verify the information you provided in your bankruptcy petition. Moreover, the questions are asked to ensure:
- the accuracy and completeness of your paperwork;
- that there is no abuse of the bankruptcy process; and
- that there is no undisclosed income, fraudulently transferred property, and omitted and undervalued assets.
Here are some of the typical questions raised by the trustee during the 341 hearing:
- Have you filed for bankruptcy previously?
- Are you familiar with the information you provided in your bankruptcy paperwork?
- Are the information in your bankruptcy paperwork complete and accurate to the best of your knowledge?
- Did you review and sign your bankruptcy petition and schedules before filing them with the court?
- Did you list all your creditors in your bankruptcy schedules?
- Did you list all of your property?
- Have you transferred any of your property in the last two years?
- What is your gross monthly income?
- Have you filed all your tax returns that have come due?
- Is your house or car currently insured?
And any other questions about your bankruptcy petition.
So it really important that you are familiar with your filed petition and the information you provided therein.
Where are the 341 Hearing Rooms in Nevada?
Below are the locations of the 341 hearing rooms in Nevada where you will be required to appear for the meeting of creditors:
* Foley Federal Building and U.S. Courthouse
300 Las Vegas Boulevard S.
Las Vegas, NV 89101
* C. Clifton Young Federal Building
300 Booth Street
Reno, NV 89509
* Elko City Council Chamber
1751 College Avenue
Elko, NV 89801
Reasons for Rescheduling 341 Meeting with Creditors
Unavoidable situations may arise giving you a reason to have your 341 meeting rescheduled. The following reasons may be:
- family emergency;
- medical emergency;
- military duty;
- forces of nature; or
- jail time.
Nevada Bankruptcy Lawyers at Freedom Law Are Here to Help
It would be beneficial if you prepare ahead of time for your 341 hearing. This will keep you confident in facing not only your trustee, but most importantly your creditors.
It is at this point when you will need the help of Freedom Law lawyers to prepare you, consult with and guide you through the process.
Please request a call-back by submitting a short online form. All initial consultations are free and confidential.