Hearings with the Bankruptcy Trustee

Full-Service Bankruptcy Representation

At Prescott Pearson & Tande, PA, we make the bankruptcy process as straightforward as possible. We are a full-service debt relief law firm, providing comprehensive representation for our clients.

As a bankruptcy petitioner, you will have to attend a hearing before the bankruptcy trustee. Before you enter the hearing room, your attorney will prepare you for this hearing.

The Bankruptcy Trustee's Role

The bankruptcy trustee is an official appointed by the United States Trustees office who is tasked with administering the bankruptcy estate that is created when you file. His or her job is to liquidate all nonexempt property and make payment to your creditors, though in most bankruptcies there are no assets to liquidate. The trustee has a great deal of power, and it is important that the trustee be dealt with honesty and complete disclosure. In a Chapter 7 bankruptcy, for example, he or she has the power to take control of your nonexempt assets, liquidate them and pay the proceeds on a pro rata basis to your creditors. However, the bankruptcy trustee is not there to punish you or take away everything you have. On the contrary, the trustee is very aware that the purpose of bankruptcy is to enable the petitioner to get a fresh start.

The Trustee Hearing

The hearing itself (often called a 341 hearing) will be conducted in a professional, business-like manner. Creditors can attend these meetings, but they rarely do. A lawyer at our firm will represent you in this hearing, presenting a plan to discharge your debts (in a Chapter 7 bankruptcy) or a debt repayment plan (in a Chapter 13 bankruptcy).

The bankruptcy trustee will ask you a few questions that you will have to answer under oath. Your lawyer may also answer some questions and present information relating to your bankruptcy petition. There are usually six hearings scheduled per one half-hour time period, and your hearing itself will last between five and 15 minutes. The trustee will advise you at the hearing if there is any other information they will require you to provide. The trustee will generally contact our office within a few days regarding any nonexempt assets the trustee may be interested in liquidating.

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To learn more about the bankruptcy process and how we can help you, email Prescott Pearson & Tande, PA, for a free consultation with one of our Minneapolis bankruptcy attorneys.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.