What to expect at your “Meeting of Creditors”
About 30-40 days after your bankruptcy petition is filed, you must attend a meeting with the bankruptcy trustee assigned to your case. This meeting is referring to as the “meeting of creditors” or “341 meeting” or “trustee meeting.”
The purpose of the meeting is to allow the trustee and your creditors an opportunity to ask you questions about your bankruptcy. The trustee will have a list of questions to ask at the meeting and might also have a questionnaire for you to fill out.
The trustee will swear you in and will emphasize that you are under oath and that the FBI investigates bankruptcy fraud. Then, he/she will ask you to state your full name and will ask to see your photo ID (driver’s license, state issued ID, or passport) and your social security card (if you can’t find your social security card you can usually use an original W2 or 1099 form from an employer). If you do not have the required forms of ID, your case may get continued to another date.
The trustee will then begin to ask you questions about your bankruptcy regarding the following topics:
• Address
• Comprehension over the bankruptcy documents you signed.
• Inclusion of all property and debt.
• Previous bankruptcies.
• Family payments
• Transfer of assets
• Foreclosures
• In a chapter 13, the trustee might ask questions about your budget and your proposed plan payment and whether that is feasible.
In general, the meeting of creditors will last about five minutes or so. The trustee will usually announce whether he/she is concluding the meeting or continuing it to another date, for example to ask follow up questions based on documents to be sent or to make sure requested documents are actually sent before the meeting will be concluded or to allow time for your attorney to amend your petition if necessary.
