Filed Chapt 7, what to expect at 341 meeting

[ForumReader]

Yesterday, I filed for Chapter 7 and will receive a letter about when the 341 meeting will take place. For any one of you who have experienced your 341 meetings, did any of your creditors show up? If so, how did they behave and what did they do? Thanks for sharing!

[Meh]

I had 1 creditor show up. I had my 341 over a month ago. That creditor sent a letter to my attorney requesting another interview to ask more questions. My attorney has sent a letter back to them letting them know that they would have to make their request through the courts as usual. This creditor was my credit union. Out of everyone in the matrix, they're the only people who showed up.

The 341 will be a lot of folks in a small space with a lot of attorneys (some of those attorneys rep the creditors). Things generally move fairly quickly. The trustee will call your name, you go up and answer his questions, he'll call for any creditors and if any are there, they will come forward at that time and ask whatever questions they may have.

[Strapped4Csh]

I had 1 creditor show up. I had my 341 over a month ago. That creditor sent a letter to my attorney requesting another interview to ask more questions. My attorney has sent a letter back to them letting them know that they would have to make their request through the courts as usual. This creditor was my credit union. Out of everyone in the matrix, they're the only people who showed up.

The 341 will be a lot of folks in a small space with a lot of attorneys (some of those attorneys rep the creditors). Things generally move fairly quickly. The trustee will call your name, you go up and answer his questions, he'll call for any creditors and if any are there, they will come forward at that time and ask whatever questions they may have.

I'm curious - what kinds of questions would a creditor ask if they did show up? I would guess about dates of purchases and maybe information on your credit application?

[AngelinaCatHub]

For the OP, there are many "stickies" about this subject and if he does a search on 341 there are hundreds of experiences from the past. They all boil down to a very simple procedure.

You are sworn in and under oath at that point for fear of perjury. You are put on record by a recorder, you are asked name address, show SS card, show picture ID, asked several fundamental questions about your income and assets, and if everything you stated on your paper work is true to your knowledge. It is rare that any creditors show up but as stated on occasion they may but it is quite a controlled environment and no shouting or bad actions are allowed. In our experience we had a wonderful Trustee. We sat in the room early enough to get the jest of what was coming and that is a common suggestion if you know nothing of this procedure. The Chapter 7 book by Nolo Press is a very good resource. Costs about 17 bucks pdf download from nolo.com. It is worth the investment. 'Hub

Add on edit: Above all, honesty and accuracy is most respected. Have everything listed and never attempt to hide assets as that can make the best Trustee a bit peeved.