The United States Bankruptcy Code requires every Chapter 7 and Chapter 13 debtor to appear at a hearing called a “meeting of creditors.”   Bankruptcy attorneys call this hearing the “341 meeting” because it is described at Section 341 of the Bankruptcy Code.

The purpose of the 341 hearing is to allow your trustee to review the paperwork you filed and to ask you questions.  Creditors are also allowed to appear to ask questions as well.

The questions you will be asked vary, depending on the particular trustee assigned to your case.   Your Clark & Washington lawyer can prepare you for this hearing based on whether your case is a Chapter 13 consolidation or a Chapter 7 liquidation.

341 hearings usually last about 5 to 10 minutes.  These hearings are not intended to serve as a thorough cross-examination.  Instead, trustees use these hearings to have you swear that the information contained in your paperwork is accurate, to update any missing information, to find out about insurance coverage on assets you intend to keep, and to find out about your intentions regarding property like your house, vehicles and furniture.

Creditors can also ask questions, but because of time constraints, creditors are usually there to find out if you intend to keep or surrender secured collateral.

As noted above, your 341 hearing will usually last 5 to 10 minutes and, of course, your Clark & Washington lawyer will prepare you for your hearing and will be sitting right next to you the entire time.