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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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WebLaw I will be attending my Creditors meeting on Tuesday.

Customer Question

WebLaw: I will be attending my Creditors meeting on Tuesday. How do I prepare for this meeting? In other words, what can I expect to happen at this Creditors meeting attended by the Bankruptcy Trustee and the individual creditors (one national bank and one regional bank and the commercial landlord). I filed a Personal and Business Chapter 7.
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.
Hello ArtCarlo,

I was not on line when you posted this question.

The creditors meeting -- also known as the 341 hearing -- will be the initial meeting with the trustee and creditors. The trustee will ask some basic questions concerning your petition and the creditors will have an opportunity to question you as well. The actual meeting will generally be less than 10 minutes. The trustee may schedule you for more in depth questioning -- known as a 2004-- at a later date.
Ellen and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 6 years ago.

Do you have any examples of the more typical questions that may be asked of me?

Expert:  Ellen replied 6 years ago.
They will always ask some form of the following questions:
is the information on your petition true and correct
have you listed all your assets and debts
what caused you to file bankruptcy
Is your wife filing bankruptcy
why not

Other questions will be more specific -- for example the trustee will likely ask you The status of your personal bankruptcy at your business 341 and the status of your business bankruptcy at your personal 341.

Any creditors that attend may ask a couple questions about the loans.

Everything else will be reservedfor follow-up deposition/2004