Tag Archives: 341 meeting

Your Meeting of Creditors….Don’t be Intimidated

When you file for bankruptcy protection, you are required to attend a meeting of creditors. This meeting is required by 11 USC §341, so it is also commonly referred to as the “341 meeting.” It is normal to feel nervous about attending this meeting. For guidance on what generally occurs at the 341 meeting, please read our blog titled “The “Meeting of Creditors” in Bankruptcy.”

mtg of creditors pic

Meeting of Creditors

The reality is that you should look forward to attending your meeting of creditors. Consider the following:

  • In a typical personal bankruptcy case, the 341 meeting does not last long. In fact, most debtors answer routine questions asked by the trustee assigned to the case that takes approximately 10 minutes. It may take longer for you to have your case called than it does for you to actually answer questions!
  • It is common for very few, if any, creditors to attend the 341 meeting. Even though the meeting is designed to allow the trustee and your creditors to ask you questions under oath, the more sophisticated creditors understand how their debt will be treated in your filing. Thus, they do not spend the time or money to attend the hearing. If you should have creditors attend, your attorney is there to assist you.
  • An experienced bankruptcy attorney has handled hundreds of meetings of creditors. Thus, he or she will likely have anticipated any issues that may arise. It is our practice to ensure that you are fully prepared for your 341 meeting and that you know what to expect in advance.
  • Most debtors only have to attend one meeting of creditors. Thus, once your 341 meeting is over, you probably do not have to go back to the courthouse for the remainder of your case. You can sit back and wait to receive your discharge order.

Most of our clients tell us that their meeting of creditors was “no big deal” or much easier than they had expected. Don’t waste time stressing over your 341 meeting and have the peace of mind that your bankruptcy lawyer will ensure that you are prepared.

Contact a Brevard County Bankruptcy Attorney

If you have questions about filing for bankruptcy protection, we have the answers. Call us today to schedule your initial consultation. Our office is located in Melbourne, but we proudly serve individuals and businesses across the Brevard County and Space Coast area.

The “Meeting of Creditors” in Bankruptcy

Atty mtg

Pursuant to 11 U.S.C. §341, whether you file a Chapter 7, 11 or 13 bankruptcy case, you are required to attend a meeting of creditors. The meeting of creditors is a time for the trustee and your creditors to ask you questions regarding your finances. It is also commonly called the “341 meeting” and it is typically scheduled about 40 days from your petition date. Failure to attend the meeting of creditors can result in your case being dismissed.

Common Questions Asked

The trustee often asks each debtor a variety of questions regarding his/her income, debts and assets. Below are a few examples of questions you may be asked at your 341 meeting:

  • Have you reviewed your bankruptcy petition and schedules?
  • Where are you currently employed?
  • Where do you live?
  • Do you expect a windfall (such as an inheritance, lawsuit, etc.) anytime soon?
  • Have you listed all of your assets and debts in your pleadings?
  • Have you transferred any assets within the last two years?

General Tips

seasoned bankruptcy lawyer will help you prepare for your 341 meeting, but below are some general tips:

  • Arrive at your meeting early so you have plenty of time to proceed through the security line. Dress can be casual, but it should be appropriate attire for a court appearance.
  • Make sure you bring the paperwork requested by your attorney and the trustee. Every trustee in Florida’s Middle District requires a valid government issued identification, and proof of your social security number. Proof of your social security number can be your social security card, a medicare card (with your social security number printed on it), an employer-issued W-2, or a 1099. Your tax return will not prove your social security number because you prepare your tax return. If you fail to bring either, the trustee will make you go get them and return either that day or the next time that trustee holds 341 meetings. Examples of additional documents you may be asked to provide include bank statements, tax returns, and payroll statements. If you do not bring documents requested by the trustee, it could result in your hearing being postponed to a later date.
  • The most important tip is to answer all questions to the best of your ability and to be honest.

In most cases, creditors do not attend the meeting of creditors. However, if you have a creditor attend and start asking questions, it is very helpful to have a knowledgeable bankruptcy attorney by your side. Contact us today for a free initial consultation!

Contact a Brevard County Bankruptcy Attorney at Faro & Crowder, PA

If you are interested in learning more about how a bankruptcy filing will impact your debt, contact Faro Crowder, PA to schedule an appointment. We are located in Melbourne, Florida on Sarno Road and serve residents and businesses of the Space Coast and Brevard County.

Services Areas

We provide services throughout Central Florida including: Melbourne, Titusville, Palm Bay, Merritt Island, Cocoa, Cocoa Beach, Satellite Beach, West Melbourne, Cape Canaveral, Viera and Eau Gallie.

Get In Touch with Faro & Crowder, PA

Faro & Crowder, PA
Phone: 321-784-8158
1801 N. Sarno Road, Suite 01
Melbourne, FL 32935
Email: info@farolaw.com

The information on this blog or any blog is not intended as, and should not be taken as, legal advice.

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