The meeting of the creditors, also called the 341 meeting since it is the chapter in the bankruptcy code, is a mandatory meeting required of all debtors that file bankruptcy. Typically, the meeting is scheduled approximately 30 days after you submit your paperwork. The meeting is informal, taking about 10 minutes and there is no judge in attendance.
Where To Go
You will go to your official hearings at the Federal Courthouse in the district that you filed bankruptcy in.
The 341 meeting is informal; you will be in a meeting room, not a courtroom. The court-appointed trustee will be there, your lawyer and if a creditor shows up, it will probably be a representative for your mortgage company or auto lender. If you have paperwork missing, such as supporting documents, your trustee may reschedule a follow-up meeting.
The trustee will ask you questions about your bankruptcy. Your attorney will answer most of these on your behalf. Some of the questions the trustee may ask you are:
- Why are you filing bankruptcy?
- Is your paperwork accurate?
- What is your current income?
- Do you expect to receive an inheritance?
- What are your current expenses?
- What is your marital status?
- Do you have children?
- Do you pay child support or alimony?
- Have you sold or transferred any assets?
- Are your home and car insured?
- When was the last time you used a credit card?
- Have you sold, traded or otherwise transferred property to anyone within the previous two years?
Bring to the Meeting
Regardless if it is for your Chapter 7 or Chapter 13 court-ordered appearance you may be required to bring the following:
- Two forms of identification, drivers license or military ID, social security card or a W-2.
- Title to your vehicle
- Most recent pay stub
- Most recent tax return
The meeting of the creditors is the part most people dread the most when they think of filing bankruptcy. With a Houston bankruptcy attorney by your side, you can go in confident and breeze through your meeting knowing you have the best representation.