At the meeting of creditors – or a 341 meeting – the debtor, who has filed Chapter 7 bankruptcy, meets with the trustee who will be overseeing his or her case.
When people hear the word “bankruptcy” they might envision a situation where the court seizes their home, cars, and other possessions to pay off their debts thereby leaving them with only a few assets.
Consolidating debt is the process of combining high-interest debts from student loans, credit cards, or car loans with a single lender. Debt consolidation may reduce your interest rate, and it could also result in a lower monthly payment on outstanding debts.
Most bankruptcy cases are caused by financial hardship – not irresponsible spending habits – which disproportionately affect low-income individuals and neighborhoods.
Whether you plan to file for Chapter 7 or Chapter 13 bankruptcy, and whether you are filing as an individual or a couple, you will no doubt have many questions and concerns.
What to Expect at a Bronx 341 Meeting
Four Secrets of Bankruptcies That Everyone Misses
What to Do after You Consolidate Your Debts
Rebuilding Credit After Bronx Bankruptcy
How to Prepare for a Bronx Bankruptcy Consultation