Can You Spend Money After 341 Meeting
After 341 Meeting How Long Until Discharge
After your 341 meeting, you may still have to wait for a while before your case is closed. You still have to wait for 60 days before the court approves a debt discharge and issues an order wiping out qualifying debt. All this happens within a few days after the 60-day waiting period.
You don’t have much to worry about after completing the 341 creditor’s meeting and a debtor education course. Contact an experienced Ch 7 Law Firm In Tampa.
Problems That May Emerge
What Happens After Meeting Of Creditors Chapter 7
Most people don’t know that their creditors will fight to the bitter end to ensure they are not awarded a discharge. These creditors want you to pay them in full and may file an adversary proceeding to challenge your debt discharge request. Other things that may slow things down after a 341 meeting include the process where a trustee sells some of your property, and when someone disputes the discharge.
What To Do After The 341 Meeting
What Happens After Filing Chapter 7 Bankruptcy
There are certain things you need to do before you can get a discharge. You need to provide financial documents to the Chapter 7 bankruptcy trustee that the court assigned to your case. This also includes providing additional information that the trustee requests. Once the trustee concludes the meeting, you don’t have to return for any purpose.
You must also file a debtor education certificate before the 60-day waiting period (after the 341 meeting) ends.
What Can You Do With Money You Earn After The 341 Meeting?
Income Increase After Chapter 7 Discharge
Any income you earn after the 341 meeting is yours to do with as you please. This is because any income earned after filing for Chapter 7 bankruptcy is not considered part of the bankruptcy estate. You can spend that money on yourself or give it away.
You cannot spend the money you earned before filing for bankruptcy that is not protected by bankruptcy exemptions. The trustee overseeing the liquidation of nonexempt assets will handle that money.
When Can You Expect To Get A Chapter 7 Bankruptcy Discharge
Can You Spend Money After 341 Meeting
You can get a Chapter 7 discharge after the 60-day waiting period. It is within these 60 days that anyone that opposes that discharge can file an objection. Other things that may happen within that 60-day deadline include:
- Nobody files an objection and you get the discharge after the 60 days are over
- Someone objects to the discharge but the court does not agree with the objection. In this case, you can get the discharge after the court dismisses the objection or after the 60-day deadline
- A creditor objects to one claim and wins, which leads to the court granting a partial discharge after 60 days or after the creditor wins the case.
When Can You Expect Your Chapter 7 Case To Close After A 341 Meeting?
Can I Buy A Car After 341 Meeting
Your Chapter 7 case will sometimes not close after a judge issues a discharge order. How long you will wait before your case closes depends on when the court settles all outstanding matters. Talk to an experienced bankruptcy lawyer to identify any factors that may delay your case closure.