Chapter 13 Bankruptcy in Michigan: What is the Difference Between a 341 Hearing and a Confirmation Hearing?
Filing for Chapter 13 Bankruptcy in Michigan is an extremely beneficial program, but there is a process you need to go through with the court in order to take advantage of the program. Finding the right attorney to represent you is critical to your success. Questions to ask:
- Does the bankruptcy attorney or law firm have previous experience administering Chapter 13 cases (not just Chapter 7 cases)? Understanding the local rules and nuances of the filing process can drastically change the outcome of your case.
- Does the bankruptcy lawyer have positive client reviews, 3rd party endorsements, such as the Better Business Bureau, and are attorneys in the firm Board Certified?
We welcome your questions and the opportunity to explain our credentials to you. We offer a free consultation to:
- Analyze your circumstances;
- Clearly present your options and;
- Recommend the best course of action for long term debt resolution and credit restoration.
Call today at 866-261-8282 to speak to one of our qualified Michigan bankruptcy attorneys or schedule a free consultation online.
Chapter 13 Bankruptcy Confirmation Process
There are two main court appearances in the Chapter 13 confirmation process: the Section 341 First Meeting of Creditors and the Plan Confirmation Hearing. The first hearing is mandatory and is called the First Meeting of Creditors. At that hearing, the court appointed Chapter 13 Trustee reviews our proposed repayment plan. This is an opportunity for the Trustee or any creditors that appear to ask questions about our submitted schedules and proposed budget. Typically the hearing does not go before a bankruptcy judge, but is more of an informal hearing. Our Chapter 13 law firm is right by your side to:
- Facilitate the process;
- Answer any questions that may arise;
- Defend the paperwork and Chapter 13 plan;
- Note any additional documentation or paperwork that may be required to move the process forward.
After the Section 341 First Meeting of Creditors, we are in the pre-confirmation phase to allow us to resolve any outstanding issues or objections. It is not unusual for a creditor or the Trustee to file an objection with the court, but most often these issues are easily resolvable with additional documentation or adjustments to the plan.
Chapter 13 Bankruptcy Confirmation Hearing
The second hearing is called the Confirmation Hearing. The purpose of this court meeting is to gain court approval for the proposed Chapter 13 plan. Often times it is not even necessary for our clients to attend this second hearing - we can gain plan approval independently of their appearance. The plan is approved with a court filed document called the "Order Confirming Plan". Our bankruptcy law firm proposes this document that outlines:
- Date the plan was confirmed;
- Approval signatures from: any objecting creditors, trustee and your attorney;
- Explanation of how attorney fees will be paid;
- Information about any special arrangements (i.e. payment) that have been agreed to for certain creditors or;
- Disclosure of additional requirements of the debtor or debtor's counsel;
- Ultimately, the document is finalized with the judge's signature and becomes part of the cases court docket.
Successfully Filing a Chapter 13 Bankruptcy Michigan
Navigating through the process of filing Chapter 13 bankruptcy without the right help on your side can be difficult. Call us today at 866-261-8282 for a free consultation with a licensed Chapter 13 Attorney. We will evaluate you debt, income and long term goals to determine if consolidating your debts through a Chapter 13 bankruptcy is the best course of action. For your convenience we have six Michigan locations in: Detroit, Ann Arbor, Flint, Southfield, Warren and Dearborn. Take the first step towards resolving your debts by scheduling an appointment online today.