Financial Management Course

• After your 341 meeting, but before your discharge, you must attend a financial management course with a court-approved provider. You can usually take this course in person or online, but you must submit a certificate of completion to the court to obtain a discharge. This course is in addition to the mandatory credit-counseling course you must take before you can file a bankruptcy petition. Both courses are a result of the Bankruptcy Abuse Prevention and Customer Protection Act of 2005.
  
  

Panel Trustee Report

• Within 10 days of your 341 meeting, the panel trustee who moderated the session will determine whether there are assets in your estate to sell for the benefit of creditors. The majority of Chapter 7 bankruptcies are "no-asset" cases in which the trustee releases a report of no distribution. The trustee also has 30 days to object to any of your exemptions.
  
  

Creditor Objections

• Regardless of whether they attend the 341 meeting, your creditors have 30 days afterward to object to your petition. They can object to your exemptions or to any fraudulent activity regarding your debt. For example, if you took out large cash advances or made excessive charges on your credit cards immediately before you filed bankruptcy, your creditors may successfully object to your activity.
  
  

U.S. Trustee Objections

• The U.S. Trustee's job is to oversee the entire federal bankruptcy program and help to prevent abuse of the system. The U.S. Trustee conducts both random and targeted audits of bankruptcy petitions and has the power to object to the granting of a discharge. The U.S. Trustee must file a statement of a finding of presumed abuse within 10 days of the 341 meeting. If the Trustee intends to dismiss the case, that filing must come within 60 days of the 341 meeting.
  
  

Discharge

• If 60 days elapse after your 341 meeting with no objections from creditors, the panel trustee or the U.S. Trustee, the law entitles you to a discharge under the bankruptcy code.