The 341 Meeting of the Creditors
About a month after filing either a Chapter 7 or Chapter 13 bankruptcy, the debt is required by the bankruptcy code to appear before the trustee. The debtor, the bankruptcy filing lawyer, and the trustee sit at a conference table and the debtor is required to take an oath and answer the trustee’s questions. The meeting will also give an opportunity for creditors to appear, however they usually do not show up. The meeting is largely a formality.
This court appearance is just part of the Arizona Bankruptcy Process, and My AZ Lawyers will prepare you for this meeting. An attorney will be with you at the hearing, so you will have the assurance of a lawyer with you who will handle the legal representation.
Typical questions asked by the trustee at the 341 meeting include:
- Did you list all of your assets?
- How did you determine the values you gave for your assets?
- State your name and address
- When filing your bankruptcy petition did you list all of your assets and all of your liabilities?
- What are your current bank account balances?
- Are you owed any wages?
- Do you expect to inherit any money in the next six months?
- Have you given way anything in the last six months?
- Have you given money to a family member more than $1000 in the last year?
- Do you expect to receive a tax refund this year?
- Do you own any fire arms?
- Do you own any real estate?
- If so what is the value of that real estate?
- How did you arrive at the value of that real estate?
- Do you own any vehicles?
- Did you list all of your debts?
- Do you own season tickets to anything?
- Did you read the bankruptcy petition schedules before signing them?
- Are the bankruptcy petition schedules accurate?
- Do you want to make any corrections to the bankruptcy petition schedules?
- Have you destroyed your credit cards?