What to Expect During a Meeting of Creditors

When you file for bankruptcy, you will have to attend a hearing conducted by your bankruptcy trustee called a “meeting of creditors” or a bankruptcy 341 hearing. The purpose of this meeting is to allow the bankruptcy trustee an opportunity to ask you questions about the information you have provided in your bankruptcy
petition, schedules, and other documentation. You will have to answer these questions under oath.

Although this may seem like a stressful or scary situation, it isn’t. Knowing what to expect beforehand can help you be more prepared for your hearing and will help it to go as smoothly as possible.

What Will Happen During My Bankruptcy 341 Hearing?

Typically, only three people will attend your hearing: the trustee, your attorney, and you. Although creditors may also show up, this is a very rare occurrence. If they do, however, your attorney can make sure they don’t do anything aggressive or inappropriate.

At the beginning of your meeting, the trustee will swear you in after asking
to see your Social Security card and driver’s license. They will then begin asking you some questions to confirm the information you identified on your petition, schedules, statements, and related documents filed with the Bankruptcy Court. Answer honestly, and remember that the trustee isn’t trying to trick you. Your attorney can help you with any questions you need help understanding.

You might be asked some of the following questions at your bankruptcy 341 hearing:

  1. Did you review the forms that you submitted with your lawyer, and are they correct to the best of your knowledge?
  2. Are there any error or omissions to bring to my attention?
  3. Did you list all of your assets?
  4. Did you list all of the creditors?
  5. Have you ever filed for bankruptcy in the past?
  6. Are you suing anyone for a personal injury – such as a car accident or a slip and fall?
  7. Are you going to be inheriting any money or property in the very near future?
  8. Have you received any unexpected money or property since the filing of your bankruptcy?
  9. Have you filed all of your tax returns in the last four years?

The meeting of creditors is nothing to fear. It literally takes less than one minute.  Remember that your attorney is available to help you every step of the way. Their goal is to help get your case approved in a timely manner, and to make the process as stress-free for you as possible.

Attorney Jason P. Provinzano has helped hundreds of people regain financial independence over the past decade. He has the kind of dedication and experience it takes to bring you the best results. Your success is our top priority – call JPPLAW, 570-822-JPP1 today for a free bankruptcy consultation.