I have seen many ways Creditor Meetings (341a Meetings) can go wrong for Pro Se Debtors. A few major lessons to be learned and which Pro Se Debtors should be aware are as follows:
- Make sure to have proof of social security number and a valid government issued picture idea.
- Tax Returns should be provided to your Chapter 7 Trustee MORE than 7 days before your hearing.
- Without the previously mentioned documents there is a chance your hearing won’t go forward.
- If you’ve repaid a debt to a relative in the 12 months prior to bankruptcy beware.
- If you’ve transferred property for less than fair market value within 4 years of bankruptcy similarly beware.
- If you have rental real property, the homestead exemption does not protect your equity. I see people try this all the time.
- Your expenses are higher than you think they are. Make sure you think through them carefully and evaluate what you used to charge on your credit cards when analyzing your expenses in Schedule J.
- Your Schedule J should be higher than your Schedule I or you wouldn’t have your financial problems.
- Make sure to complete your second class debtor education and present the certificate to the court or you will not get a discharge.
To avoid the pitfalls listed above, retain the Law Office of Klavir & Associates.
{ 2 comments… read them below or add one }
Is there a time limit in which to submit the 2nd session of the debtor’s class certification to the court? Just had our meeting of creditors at the trustee’s on 9/27/10 for our chapter 7. Is there a limit like witnin 45 days, 60 days. I know the BK cannot be charged off without completion of the 2nd course but how soon should we complete. Don’t want to miss a deadline. Thanks
The time limit is 45 days from the date first scheduled for meeting of creditors 341a.