A person who files a chapter 7 bankruptcy case must attend what is called a 341 Meeting, also known as a trustee’s meeting. Those who file under chapter 13 are required to attend a 341 meeting, as well, but may have to attend a confirmation hearing with the Court, as well. For filers of chapter 7 bankruptcy, this meeting will likely be their only contact with the bankruptcy court.
For many debtors, this is the most stress-inducing phase of their bankruptcy filing. The idea of having a court-appointed trustee rummage through their personal finances and ask probing questions can be enough to unnerve even the steeliest of filers. Knowing what questions they are likely to be asked ahead of time can go a long ways towards easing their nerves and provide a smoother 341 Meeting experience for their counsel.
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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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