Questions Asked during 341 Meetings

If you have recently filed for bankruptcy then you need to start preparing for the questions that will be asked during a 341 meeting.

At this time a trustee will ask your name, social security number and address. He or she will then ask whether you have correctly listed all of your assets and debts on your bankruptcy petition. How you valued your property listed on the petition could also be asked during this meeting, as well as if any significant changes may have affected the items listed.

In the case of a Chapter 13 bankruptcy petition the trustee may repeat the plan provisions of your petition to ensure that he/she understands what you propose to do. This is to also ensure that you understand the terms and conditions of your own bankruptcy petition.

Creditors are allowed to come to this meeting as well, and they can also ask you questions. Any questions they have about your financial affairs and property are valid points during a 341 meeting. To prepare for these possible questions you need to make sure that you completely understand your own petition before you file it.

Have questions about your 341 meeting?  Contact us to receive guidance from a Chicago bankruptcy attorney.