Your section 341 meeting of creditors is approaching, so to help ensure a smooth meeting this video will provide you with instructions relating to that meeting. We’ll cover several things: first, who’s involved; second, what to wear; third, what to bring with you; fourth, how the meeting is conducted; and fifth, what happens after the meeting. So let’s get started.
One, Who’s Involved. The meeting of creditors is conducted by the trustee assigned to your case. The trustee is an attorney who is appointed by the court to represent your creditors. The Trustee is not a judge and no issues of law will be addressed at the hearing. You can think of a 341 meeting as a mini deposition—only less formal.
So what should you wear? You should dress informally. You do not need to dress up for the event. In fact, we suggest that you dress normally or dress down, casually; that you do not wear any jewelry or other items of value. We want you to appear as ordinary as possible.
There are several documents that you need to bring with you. You need to bring these documents, even if you have already provided them to our office. They are:
What Happens at the meeting?
When you arrive at the meeting, please get out your documents and put them in a stack in the order we provided. First, your picture ID; Second, your social security verification; those will be on top. Underneath them will be your most recent paystubs, followed by your bank statements, and finally the most recently filed tax returns.
When you arrive, you will go into the meeting room. The meeting is grouped with several other cases—usually around 8 case. The Trustee will first five an opening statement and explain how he plans to administer the cases. He or she will give you a reminder that any tax refunds or any funds that you had on hand at the time of filing your case are property of the estate and can be required to be turned over. Don’t spend any of these funds until after the 341 meeting and we determine whether any turn-over requirement will be issued. The Trustee will then start calling the cases one-by-one. When your case is called, you will come forward and hand the stack of documents to the attorney present from our office. The Trustee will then put you under oath and have you state your full name(s) for the record. You will then sit down and the Trustee will begin asking routine questions:
Did you carefully read the statements and schedules and related documents filed in your bankruptcy case?
Did you sign the statements and schedules and related documents?
Are the signatures your own? If you signed the statements and schedules and bankruptcy papers electronically, it is your original signature once you adopted it, so the answer would be yes.
Have you read and understand the Bankruptcy Information Sheet? The Trustee Information Sheet five you an overview of the four different chapters of bankruptcy, it explains a discharge and some exceptions to a discharge—like student loans; and finally it explains a reaffirmation agreement. The email reminders that you receive from our office about the 341 meeting will have the Trustee Information Sheet attached. So we recommend that you review that document before the meeting. The Trustee isn’t going to ask you any specifics about it, he just wants to know that you read and understood it.
Then, the Trustee may ask other questions about the assets or other aspects of your case. His job is really to see if there are any assets that are non-exempt that can be taken and sold on behalf of your creditors.
When you answer questions, please keep your answers as short and concise as possible. Keep it to yes or no, if possible. ONLY answer the question that is being asked. Don’t elaborate or volunteer any information that isn’t being asked.
What Happens Next?
Finally, what happens next? After your 341 meeting there is a second educational course that you will have to take. You will receive an email from our office with instructions on taking the course. Take the course as soon as possible after the meeting, so you don’t forget. If you forget to take the course, the court cannot issue a discharge and your case can be closed without a discharge. If that happens, we can file a motion for the case to be reopened and reinstated, so you can take the course and get a discharge but there is additional cost, so it’s best if just take the course the first time; take it right away before you forget.
The Trustee may issues directives at the 341 meeting. Unless the Trustee issues directive, such as providing copies of tax returns or turning over property, the second course is your step in the case. The court will then issue a discharge within 60-90 days after the meeting. You will receive a copy of the discharge order in the mail from the court. We will also send you an email when we receive a copy, so you will be notified that way as well.
Great! So now we’ve covered everything associated with the 341 meeting. We’ve covered who’s involved, what to wear, what to bring with you, how the meeting is conducted, and what happens after the 341 meeting. If you follow these instructions—particularly with the documents to bring and have them out and available and in the right order—your 341 meeting should run smoothly and you’ll be much more relaxed. We look forward to seeing you then.
Russell B. Weekes has over 18 years experiencing helping individuals, couples, and businesses achieve their legal goals.
491 N Bluff Street
Suite 201
St. George, Utah 84770
P: (801) 228-0251
E: info@weekes-law.com
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(c) Copyright RBW Esquire, LLC. 2021. All Rights Reserved. This website is not intended to be legal advise or create an attorney-client relationship. Information, forms or documents are intended for general information only and may not be regarded as legal advice. Laws change periodically, and the contents of this site is not guaranteed to be up-to-date. It is highly recommended that you seek professional legal advice so you can understand your full rights and obligations under the law.