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What to Expect in a 341 Meeting of Creditors
Sep 23, 2019
So you have filed your bankruptcy case and now you have an upcoming 341 Meeting of Creditors. It is important to take this meeting seriously but in most cases when you are done you will tell yourself, "Wow, that was it?"
The first thing to know about these meetings is that the Trustee has an entire docket of these meetings and is trying to get through 4 or 5 of the meetings every half hour (right 30 minutes). That means the Trustee only wants to spend 5 or 10 minutes with you. You've already spent anywhere from 2 - 6 hours with your attorney, so if you have an attorney worth his or her price you have already covered everything the Trustee will ask about multiple times.
Show up early. Depending on how busy your attorney is they may have other clients on the same docket. So if you want to have a meaningful last session with your attorney prior to the meeting get to the meeting at least 30 minutes early.
Bring photo id and and social security card.
One of the main reasons you are to show up in person is to prove who you are and what your social security number is. If you do not bring the documentation you cannot do that. Most Trustees will not hear you if you do not have this documentation and instead reschedule you for another time. Nobody wants to come for these meetings twice so bring the ID and SS card.
Dress appropriately. You want to look like you are taking the proceedings seriously. This does not mean you need to wear a suit or even a tie. But try to look like you care. The Trustees will notice. But also do not wear your most expensive or nicest looking clothes or assessories. Trustees notice that too. I once had a Trustee start his questioning off with, "Those look like nice chains you are wearing, are they real gold?". It was real gold and fortunately we had properly listed and exempted the jewelry in the schedules so it was no problem.
Answer the question you're asked.
Some Trustees come off as very nice people and most of them are. However, they also have a job to do and that is to take any property you may have and give it your creditors. So if you can answer with Yes or No, then do so. The Trustee does not need to hear the story or why you did something. Trustees in Colorado are seasoned attorneys, they know how to ask for more if they want to know more.
Finally, you do NOT need to use the title "Your honor" with a Trustee.
A Trustee is not a judge, so a simple sir or maam is sufficient.
Denver Bankruptcy Law Office Nathaniel Thompson
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Sound legal advice is based on years of training, hard work, and passion, as well as familiarity with legislation and precedent and sound consideration. You’ll find all that and more at the Law Office of Nathaniel J. Thompson based in Denver, Colorado.
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