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The Bankruptcy Hearing: The “Meeting of Creditors” or “341 Hearing”

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Brian Hemphill Last updated: October 19th, 2020 In every bankruptcy proceeding, the debtor must attend a hearing called the “Meeting of Creditors” and submit to an examination under oath.  The hearing is sometimes also called the “341 Hearing” because it is required by Section 341 of the Bankruptcy Code. In most bankruptcy cases, the Meeting... [Read More]

Bankruptcy Exemptions

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 8 minutes One breath summary: Exemptions are a fundamental concept in the bankruptcy system.  Determining which assets are exempt in bankruptcy has a critical impact on a bankruptcy case.  It is incredibly important that a person considering filing for bankruptcy protection understand what exemptions are and... [Read More]

Who is the Bankruptcy Trustee?

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Brian Hemphill Last updated: October 15th, 2020 When you get involved with bankruptcy proceedings, you hear a lot about the “trustee”. The bankruptcy trustee plays a critical role in bankruptcy, so it is important for you to understand who the bankruptcy trustee is and the bankruptcy trustee’s role in a bankruptcy case.  Generally speaking, the... [Read More]

What is the “Bankruptcy Estate”?

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 5 minutes One breath summary: When you file for bankruptcy, most of your assets and property rights become part of a bankruptcy estate owned and controlled by the court, with few exceptions and exemptions. Before you file, it's incredibly important that you understand what part of... [Read More]

The Co-Debtor Stay in Bankruptcy

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 5 minutes One breath summary: For the duration of Chapter 12 and 13 Bankruptcies, the automatic stay against collections will be extended to the co-debtor if they are an individual. However, it doesn't apply to all debts, nor does it absolve the co-debtor from any liabilities.... [Read More]

Omitted Debts: What if I accidentally leave a debt out of my bankruptcy?

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Brian Hemphill Last updated: October 19th, 2020 Reading time: 5 minutes One breath summary: Leaving off debts or creditors in your bankruptcy filing will cause you a headache down the road. You can add creditors to your case as long as you held the debt from before you filed the case, and it's recommended that... [Read More]