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EVEN THOUGH WE CONSISTENTLY ADVISE OUR CLIENTS TO NOT BE WORRIED ABOUT THEIR APPEARANCE AT THEIR CREDITOR’S MEETING, IT IS INEVITABLE THAT IT FALLS ON DEAF EARS.
Every person who files for bankruptcy must attend what is commonly referred to as a “creditor’s meeting” or Section 341 meeting. Because it is referred to as a “creditor’s meeting” bankruptcy clients assume that they are going to be grilled by questions from their creditors. In actuality it is extremely rare for a creditor to appear at a creditor’s meeting and ask questions of a Debtor.
For those persons filing for Chapter 7 bankruptcy they can expect that they will be asked a series of questions by us that will track very closely with this outline. In addition, since the Trustee’s role in a Chapter 7 bankruptcy is to identify any assets that might be non-exempt under the law, you should be prepared to respond to the Trustee with information associated with assets. You can expect that if we have filed your bankruptcy we are going to discuss this possibility prior to your appearance at the meeting.
In a Chapter 13 bankruptcy you should expect that a member of the Trustee’s staff to ask a series of questions that will track closely with this outline. In addition, be prepared to discuss with the Trustee’s office those things that we have previously advised you might be a topic of discussion.
The greatest piece of advice that I can offer you is to relax and not be anxious about your appearance at the creditor’s meeting. These meetings are very routine and you have hired a lawyer for a purpose, to help shepherd you through the process.