If you are in the process of working with a bankruptcy lawyer to file for Chapter 7 bankruptcy as a way of finding relief from your debt, you should understand that you will be required to attend a court hearing. This hearing is called a 341 meeting of creditors, and it is mandatory in a Chapter 7 case.
What is the purpose of this meeting?
The 341 meeting of creditors is a meeting that is required for all bankruptcy cases, and its primary purpose is to give a person’s creditors a chance to object to the bankruptcy filing and discharge.…
You might be startled at the interest the bankruptcy courts show in your tax filing status. Your income, the taxes you might owe, and other aspects of your tax situation play a role in your bankruptcy in several ways. Read on to learn more.
Chapter 7 and Tax Return Status
In most cases, the bankruptcy trustee will want to see a copy of your most recent tax return. If you have not yet filed your taxes, be ready with an explanation as to why not.…
When you faced a tight financial situation, a payday loan seemed like a lifesaver. However, while the loan might have offered you an immediate relief, the loan likely left you in an even worse financial situation. With the excessively high interest rates and strict payment guidelines, it’s no surprise. If your payday loan concerns have spiraled out of control and you are facing financial catastrophe — bankruptcy might be an option.…
