Questions during 341 meetings

The first area of questioning at a section 341 meeting of creditors’ is to determine that you, the debtor have filed the bankruptcy case voluntarily. The chapter 7 interim trustee will do this by checking your state issued identification and social security card. Then the trustee will ask you to identify your signature on certain documents and ask if you have met with your attorney and reviewed the documents before signing them. He will then make sure that you understand that by signing these documents you are testifying to the truthfulness of your bankruptcy documents.

The next area of questioning will be regarding assets. The trustee will ask if you own or rent your home. If you own your home he will try to determine the amount you owe on your mortgage and the current value of your home. The trustee will question you about any vehicles you have. This questioning will establish the value of the cars and the amount owed on the cars. The trustee will then ask you if you have any property with significant resale value, if you are currently pursuing litigation against anyone, if you stand to inherit any money, and whether you have made any large payments to any creditors in the last several months.

Finally, the Trustee will make sure that you understand your rights and obligations in Bankruptcy. This is typically accomplished by asking you if you have read the Bankruptcy information sheet which your attorney will provide for you at the meeting. The most important thing to remember is that as long as you have been truthful with your attorney throughout the process the meeting of creditors will be a mere formality and is nothing to be concerned about.