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The Notice of Bankruptcy

The Notice of Bankruptcy

When you file for bankruptcy protection, a Notice of Bankruptcy is mailed to everyone listed on your creditor’s matrix.  The notice provides creditors with a variety of important deadlines.  If your creditor or lender misses these deadlines, it is possible they will forfeit their right to make a claim or file an objection.  Below are a few of the deadlines that are typically listed on the Notice of Bankruptcy:

  • Petition filing date: A petition filing date is the date you filed the bankruptcy petition and many other dates depend on this date.
  • 341 meeting: The 341 meeting, also known as the “meeting of creditors”, as required under Section 341 of the Bankruptcy Code, will be scheduled by the Notice.  It is typically 30-45 days after the date the bankruptcy petition was filed.
  • Proof of Claim deadline: If you file an asset case, creditors must file their Proof of Claim by a specific deadline or their claim may be deemed to be waived.
  • Objection deadline: The Notice will provide creditors with the deadline to object to discharge.  A creditor must allege an objection to the discharge of its debt within 60 days after the first scheduled meeting of creditors.
  • Deadline to object to exemptions: If you have claimed an exemption in error, a creditor can object to such exemption.  This type of objection must be filed within 30 days after the meeting of creditors has concluded.

If you are interested in learning more about bankruptcy, contact The Koplen Law Firm to schedule your initial consultation today!

If you are interested in learning how filing a Chapter 7 or Chapter 13 bankruptcy could benefit you, contact The Koplen Law Firm.  Bankruptcy is designed to give people who are in financial difficulty a “fresh start.”  Thus, if your debts are causing you undue stress, you should contact Koplen Law Firm

 

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