What Happens at a 341 Meeting of Creditors?
11 USC 341 requires that most individuals who file bankruptcy attend a meeting of creditors. Normally, people are required to bring the following items to the meeting:
- picture ID
- proof of social security card (W-2, passport with SSN)
- most recent paystub
- bank statement covering the month when bankruptcy is filed.
Here is a list of questions commonly asked at the 341 meeting:
- state your name
- what is your address
- did you read the bankruptcy information sheet
- have you filed any other bankruptcies in the last 8 years
- did you sign the petition, statements and related schedules before your attorney filed them with the court
- do you have a child support/alimony obligation
- how did you spend you most recent tax refund
- what vehicles do you own
- are you reaffirming any debts
- have you sold/transferred any property in the past 2 years
- have you paid back any friends/family in the past 1 year
- do you own real estate
- what is your marital status
Creditors then normally have an opportunity to ask questions, though creditors in our area rarely attend these meetings.