Preparing For Your Bankruptcy Trustee Meeting
If you decide to file bankruptcy, one key step required will be your appearance at a meeting with a bankruptcy trustee. This meeting is sometimes called a “341 hearing” or the meeting of creditors. Your creditors will receive notice of the hearing, but in most cases they do not attend. This meeting is not a court hearing, but a somewhat less formal “sit-down” with the trustee for a brief, direct interview — typically in a meeting room or office.
Be Honest And Thorough With Us, And We Will Ensure That You Know What To Expect
The primary purpose is for the bankruptcy trustee assigned to your case to ask you basic questions and confirm that the information in your bankruptcy petition is accurate. So, the best thing you can do to prevent unpleasant surprises is to be absolutely honest with your bankruptcy lawyer about your income, debts, recent transactions and all other considerations.
At Arnholt & Staggs Law Office, we will help ensure that you are ready and the meeting goes as expected. Attorney Tim E. Staggs has attended meetings with many trustees serving Bartholomew, Monroe and other southern Indiana counties. We will tell you what you need to bring if there is any critical documentation we have not collected at that point.
Most of our clients file Chapter 7 bankruptcy, and they have extremely limited interaction with a trustee. Although that official’s responsibilities include gathering assets you are required to forfeit and paying creditors with any proceeds, most Chapter 7 filers do not have to give up property. In these cases, the trustee may ask any of a range of questions such as:
- Do you understand what is in your bankruptcy petition and vouch for its accuracy?
- Have you made any substantial payments to creditors, relatives or anyone else recently?
- Do you anticipate receiving any money or property in the near future — such as tax refunds or repayment of a debt to you?
To Explore Bankruptcy As A Solution To Your Debt Problems, Call 812-373-6539
If you follow our guidance, preparing for your bankruptcy trustee meeting will not be a burden and the meeting should not be anything to worry about. We encourage you to call or email us if you have questions about any aspect of bankruptcy. Our long-standing, respected firm maintains full-service offices in Columbus and Bloomington.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.