What to Expect at the 341 Hearing in Bankruptcy
If you file bankruptcy, you will have to attend a 341 hearing, more commonly referred to as the meeting of creditors. This meeting is between you, the bankruptcy trustee, and the creditors that provided the debt you are trying to discharge or reorganize. This hearing can be intimidating, particularly if you have never been to one before. Below, our Orlando bankruptcy attorney explains what you can expect before you are required to attend your meeting.
How to Prepare for the 341 Hearing
Before attending the 341 hearing, you should carefully review the bankruptcy petition to ensure it does not contain any mistakes. If there is a mistake you should file an amendment before the hearing or prepare to raise the issue at the hearing to notify the trustee about it. For example, a common mistake made is that people fail to list their name exactly as it appears on other government documents, such as their passport.
Documents to Bring to the 341 Hearing
In most cases, you will have already provided the trustee with all of the documents required in your case. For example, you likely have already provided all of your income tax returns, trustee paycheck stubs, and bank statements. Due to this, you likely do not need to bring anything to the hearing other than your identification and your Social Security card. If your financial position has changed since you filed the petition, you should bring any documents that reflect the change, as well. Of course, if the trustee has asked that you bring other documents, you should have those ready.
The Length of the 341 Hearing
You will be one of approximately ten 341 hearings scheduled on your given day. After you are called by the trustee, things will move quickly. The trustee will ask routine questions and inquire about any issues that need further explanation. If your creditors have appeared at the hearing, they are also given the opportunity to ask questions. However, creditors do not typically attend these hearings.
Questions at the 341 Hearing
There are many questions you will be asked at the 341 hearing. These include:
- Did you include all of your creditors in your petition?
- Did you disclose all of your property?
- Is all of the information included in your bankruptcy application accurate to the best of your knowledge?
- Has your situation changed since you filed bankruptcy?
- Have you filed bankruptcy before?
- Are you current with all of your tax returns?
The above are questions asked by the bankruptcy trustee. Creditors may also ask you about recent credit card purchases and cash advances. If there is contradicting information in your bankruptcy petition and your application for credit, a creditor may also ask you about this.
Our Bankruptcy Attorney in Orlando Can Represent You at the Hearing
While most 341 hearings are relatively straightforward, it is still recommended that you obtain the help of an Orlando bankruptcy attorney. At Florida Law Advisers, P.A., our experienced attorney can provide the representation you need and ensure your rights are protected. Call us now at 1 (800) 990-7763 or contact us online to schedule a consultation and to get sound legal advice.
Source:
uscourts.gov/court-programs/bankruptcy/bankruptcy-basics/chapter-13-bankruptcy-basics
