Preparing For The Meeting of Creditors

: Reese Baker & Associates

  Filed under: Bankruptcy Information

meeting of creditorsWhen filing bankruptcy under Chapter 13, the 341 meeting of creditors is an opportunity for the trustee to review your case and assess your proposed payment plan. Your Bryan bankruptcy attorney will attend this meeting with you, which is helpful when fielding questions from the trustee.

When is the Meeting?

Unlike Chapter 7 bankruptcy, a Chapter 13 case is allowed a little more time to schedule this appointment. There is a 29-day window when you can hold this meeting at least 21 days after you file but not past 50 days after.

Bring Proper Documents

Don’t show up to the meeting without your photo ID and your social security number. Failure to present these documents means rescheduling the meeting and prolonging the process.

Trustee Questions

It would be wise to meet with your attorney before the meeting of creditors to review potential questions you will encounter from the trustee. Doing so will alleviate stress and help you present yourself more professionally in the meeting. The list below offers a few possible questions that are a good starting point for reviewing your case information.

  • How steady is your current income?
  • What are your various sources of income?
  • Are the recorded balances on your debt still accurate?
  • Have you started making payments towards the plan you have proposed?
  • What is the current value of your property?

These examples can help you start thinking about the different information you need to review with your bankruptcy attorney before you attend the meeting. It’s wise to take the time to be prepared. It will help the meeting go smoothly and will help reduce the chances of having to schedule a follow-up appointment.