Navigating the 341 Meeting of Creditors

The thought of attending a meeting of creditors can be daunting to those unfamiliar with the process. In reality, however, the process of the meeting is usually straightforward and relatively brief. You should discuss the specifics of the meeting in regards to your particular case with your attorney prior to attending the meeting, but the framework of the meeting is usually along the same lines for everyone.

You first must bring photo identification and your social security card. The Bankruptcy Trustee will compare these to the information provided on your bankruptcy petition to ensure they match. This is done to prevent bankruptcy fraud and identity theft. In addition, you will want to arrive 30 minutes early, especially if you are unfamiliar with the court buildings and security requirements.

While there, you can listen to those cases going before you. By doing so, you will get an idea of what questions the Trustee is asking clients in their testimony. While there, you can also review the bankruptcy information sheet to refresh your knowledge of the different chapters of bankruptcy available to you under the Bankruptcy Code. You will also have the opportunity to meet with your attorney ahead of time, who will go over one last time the questions that you are likely to be asked during the meeting. You likely already have reviewed these questions, but it helps to go over them again with your attorney immediately prior to the meeting to ensure you are as prepared as possible for the questions the trustee has for you.