The § 341 Creditor Meeting
Soon after filing a chapter 7 bankruptcy, the court will send an order to you, all of your creditors, and your bankruptcy attorney setting a date and time for a meeting between you, the trustee, your lawyer, and any creditors that want to attend. This is required under § 341 of the U.S. Bankruptcy Code. It usually takes place about six weeks after a bankruptcy filing and it typically lasts about thirty minutes. Creditors seldom attend the meeting.
The trustee will ask you (and your spouse, if you file jointly) certain questions at the meeting about your assets, income, expenses, and why you decided to file for bankruptcy. There are also questions about the information on your bankruptcy petition and schedules. The trustee should never threaten you.
This is a list of some of the questions you might be asked at a 341 meeting:
- Are there any creditors or parties in interest here today?
- Sir or Madam, I have handed you a debtor’s oath form and now asked you to verify your signature on that form. Is that your signature?
- In signing the form you are indicating that the statements you are about to give will be true and correct under penalty of perjury. Do you understand that?
- I note for the record that the attorney representing the debtor in this proceeding is [name].
- I asked previously are there any creditors of the debtor or other parties in interest in the courtroom today for this case and I hear no response.
- Please state your full name and current address.
- Please show me your picture ID. (Bring ID!)
- Please show me some proof of your Social Security Number. (Bring proof of your social security number)
- Do you rent or own your home?
- What is your spouse’s name?
- When were you married?
- What is her/your maiden name?
- Did you ever have another name?
- Have you filed a petition seeking relief under the Bankruptcy Code?
- I show you your petition and ask if that is your petition.
- Did your spouse file a joint petition with you?
- [If no joint petition was filed] Does your spouse have notice of these proceedings?
- Is your spouse present today?
- Is he or she responsible for any of the debts listed?
- I have handed you a copy of your petition and ask whether you recognize this as the petition you executed and filed with this court.
- Is that your signature at the bottom?
- When signing this petition, did you review its contents and assure that all the information contained in the petition was true and correct?
- Have you ever filed a bankruptcy proceeding before?
- If you did, did you receive a discharge? If so, when?
- Have you made any voluntary or involuntary transfers of real or personal property within the last year?
- Are any of these credit card claims?
- Have you returned the credit cards or destroyed them?
- Do you understand the potential consequences of seeking a discharge in bankruptcy and its possible effects on your credit rating?
- Are you aware that you may be able to file under a different chapter of the bankruptcy code?
- Do you understand the effect of receiving a discharge?
- Do you understand what it means to reaffirm a debt and that you are under no obligation to reaffirm any debts?
- Does schedule E contain a complete list of all your creditors having priority? If none, state none.
- Does schedule D contain a complete list of all your creditors having security? If none, state none.
- Does schedule F contain a complete list of all your unsecured creditors? If none, state none.
- Does schedule A/B, contain a complete list of all your real and personal property? If none, state none.
- Have you voluntarily or involuntarily transferred any real estate or personal property within twelve months before you filed your petition?
- Does schedule C contain a list of all property claimed as exempt and indicate the statutory provisions providing for those exemptions?
- Does the summary of schedules contain a complete and accurate total of your property and debts?
- Are you currently employed and, if so, by whom?
- Has your attorney filed a disclosure of fees?
- Is that the correct amount that you have or will pay your attorney for representing you in this matter?
- What caused your financial difficulties?
- Are those difficulties continuing or have they ended?
- Have you paid filing fees and costs?
- Are there any creditors or other parties in interest who wish to ask any questions?
If you have any questions about a 341 meeting or about bankruptcy in general, call our South Florida bankruptcy lawyers today at (754) 400-5150 or contact us online. Let the lawyers and staff at the Law Offices of Evan M. Rosen serve you!