rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 12:40 pm Post subject: hi |
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A 341 meeting comes from 11 U.S.C section 341 of the Bankruptcy Code and simply put, it is a meeting of your creditors. This hearing is held at the US bankruptcy Court, in Downtown Detroit- (if you are in the Eastern District of Michigan), usually 4-5 weeks after your case is filed. Regardless if you file a Chapter 13 or a Chapter 7, the United States Trustee will appoint a trustee to your case. These Trustees are usually lawyers or accountants and they will conduct your "341" Meeting. Having a huge debt overhead is always a matter of great concern and especially if the financial support is not concrete, troubles can come uninvited. It is a common belief that bankruptcy is the best and the only alternative available to eliminate debt. But, fortunately this is not true. There are other alternatives of bankruptcy that you should know about and implement in order to get the right result.
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