When my clients at Halcomb Singler, LLP, file bankruptcy they are often very focused on the 341 hearing from that moment forward. The 341 hearing is a hearing that each person who files a bankruptcy petition must attend where a trustee asks the debtor questions about his or her bankruptcy petition and creditors are invited to attend. Although I prepare each client for their 341 hearing (see prior blog on what to expect at the 341 hearing) by giving them questions the trustee will be likely to ask and by answering their questions about the hearing, the bottom line is that most people are still nervous. In my opinion, this nervousness is human nature and completely normal. Most of my clients walk out of the 341 hearing feeling as if a weight has been lifted off of their shoulders. However, it is important to remember that the bankruptcy case is not over after the 341 hearing.
For example, bankruptcy debtors are required to take a financial management course within 45 days of his or her 341 hearing. This is 45 days from the original date set for the hearing and not from the date of a continued 341 hearing. It is very important that if the debtor has not completed this course prior to the 341 hearing that they get it done as soon as possible after the hearing. Failure to take this course and to file a specific form with the court informing them you have taken the financial management course will result in the closing of your bankruptcy case without a discharge. Since a discharge is the legal term that means that you are no longer responsible for paying your creditors, there is typically no point in filing a bankruptcy to have it closed without a discharge.
If you fail to complete the financial management course within the time limit and you receive a notice that your bankruptcy has been closed without a discharge all is not lost. In the Southern District of Indiana it is typically fairly easy to petition the court to reopen your bankruptcy and file the proper documentation. However, this is an additional filing fee and certainly likely to be additional attorney fees in the event the deadline is missed.
It typically takes 6 to 8 weeks after the 341 hearing for a debtor to receive his or her bankruptcy discharge. However, continue to pay attention to correspondence received from your attorney during this time, as it is possible that there are reaffirmation agreements or other documents that still need to be executed for filing with the Court.
If you are considering bankruptcy and would like to sit down with an Indiana bankruptcy attorney for a free initial consultation please call me at 317-575-8222. I file Chapter 7 and Chapter 13 bankruptcy petitions for those living in Indianapolis, Carmel, Fishers, Noblesville, Anderson, Tipton, Zionsville, Kokomo and the surrounding areas.
Halcomb Singler, LLP, is a debt relief agency. It helps people file for bankruptcy under the bankruptcy code. No attorney-client relationship with the firm of Halcomb Singler, LLP, is created through this blog. Also, please note that Erika Singler is an attorney licensed in Indiana and does not seek to practice law in any jurisdiction in which they are not properly authorized to do so. The information contained in this blog is general in nature and should not be relied upon for the circumstances of any individual(s) or businesses.
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