341(a) Meeting of Creditors
What to Expect at a Bankruptcy Meeting of Creditors
The 341(a) Meeting of Creditors is a mandatory part of the
bankruptcy process. It takes place shortly after a case has been filed – usually within
30 days – and will involve a review of your case by a Trustee. The
Trustee will examine individuals filing for bankruptcy under oath in order
to make sure that all information listed in the bankruptcy paperwork is
correct. Meetings are typically brief.
Here is an idea of what to expect:
- In a Chapter 7 bankruptcy, you must explain why you are unable to pay back
the debt that you’ve accrued. This could include showing the results
of the means test and explaining how your expenses outweigh your income.
Some debts may not be discharged and these creditors will not be included.
- In a Chapter 13 bankruptcy, you will discuss your financial situation with
your creditors and come up with a plan that works for everyone. The plan
should allow the creditors to recover most, if not all, of the debt over
a period of three to five years, while you can lower the amount you pay
At San Diego Legal Pros, we frequently hear from clients who are anxious
about attending the 341(a) Meeting of Creditors. The most important thing
our San Diego bankruptcy attorney wishes to stress is that we want our
relax. The Meeting of Creditors is not a cause for concern and is standard procedure
for the bankruptcy process. When you are required to attend a meeting,
you will be asked very basic questions – most of which can be answered
with a simple "yes" or "no."
How Our San Diego Bankruptcy Attorney can Guide You
Because our legal team is intent on preparing our clients and setting them
at ease during each stage of their legal journeys, we have compiled a
list of typical questions asked by the Trustee at the Meeting of Creditors
so that you can know what to expect.
For more information about the 341 Meeting of Creditor, bankruptcy, and
your particular situation,
contact a San Diego Bankruptcy lawyer from our firm for a
free case evaluation by calling (888) 875-9190.