341 Meeting of Creditors

Section 341 of the Bankruptcy code requires all debtors seeking relief under the bankruptcy code appear at the meeting and be subject to examination. This means you are required to appear and answer questions about your bankruptcy case.

You don’t need to panic though. While the meeting is called the Meeting of “Creditors” it is very unlikely any creditors will be there. The meeting is also limited in scope, so IF there are any creditors they are also limited to asking you questions about your income, assets and liabilities.

The 341 meeting is presided over by your case’s Trustee. He/she will ask you questions to confirm the information in your petition. A list of common questions is below. He/she will verify your identity via your photo ID and social security card.

Common 341 Meeting Questions

– Did you sign the petition, schedules, and statements filed in your bankruptcy case? (The documents you signed in my office).

– Is the information in the petition true and correct – to the best of your knowledge, information, and belief? And are there any changes that you need to make?

– Did you list all the property you own? (All property not just real estate but all your possessions)

– Did you list all of your creditors?

– Have your filed bankruptcy before? If so when?

– Are you required to pay a domestic support obligation, child support or alimony?

– Have you lived in Texas for the last 2 years?

– Is the copy of the tax return you provided to the Trustee, through your attorney, a true and correct copy of the most recent return you have filed with the Internal Revenue Service before today’s date?

– Have you filed all tax returns for the last four (4) years? (Chapter 13 only)

– Have you read the US Trustee’s Bankruptcy Information Sheet? And do you have any questions about the sheet? (Here is a link to the sheet https://www.justice.gov/ust/bankruptcy-information-sheet-0)

– Did you discuss with your attorney the different chapters of bankruptcy, and did you decide that the chapter you filed was in your best interest? And you are aware you could have filed under a different chapter?

– Did you discuss the effects your petition might have on your credit history?

– Are you entitled to any inheritance from anyone you has already passed away? And do you understand that if you do become entitled to an inheritance with in six (6) months you need to let your attorney know?

– Do you have any claims for money, pending lawsuits or unsettled car accidents that you can bring against anyone?

– Do you own any bitcoin or cryptocurrency? (If you don’t know that is you probably don’t).