After filing for a Chapter 7 Bankruptcy, the next step in the process is for a debtor to attend the Meeting of Creditors, also referred to as the 341 Meeting. This meeting is mandatory for all debtors, and takes place about 30 days after filing. For many, this is the only “court” appearance in the bankruptcy proceeding, though it is not held in a courtroom nor in front of a judge. Instead, you will sit before a Trustee, who will ask you questions about the accuracy of the Schedules filed with your case. Remember that you must answer all questions truthfully. The Trustee will ask you several questions , which may include:
- Did you read the schedules before signing?
- Did you list all your debts and assets?
- Do you need to make any corrections to the schedules?
- Have you transferred property in the last two years?
Creditors will also have the right to ask questions, but many do not appear at the meeting. When you arrive for your scheduled meeting, make sure to arrive a few minutes early and have your Driver License and Social Security card with you. Feel free to sit in and watch other cases so that you know what to expect. When you are called, present your identification to the Trustee. If you are represented by an attorney, he or she will sit next to you, but all questions must be answered by you, the debtor.
Remember, if you have any questions regarding the bankruptcy process, speak with an experienced bankruptcy attorney.
