Questions Asked at the Meeting of Creditors

What is the Bankruptcy Trustee Going to Ask?

About the Meeting of Creditors

About 30 days after you file your bankruptcy petition, you will be required to attend what is called the 341 Meeting of Creditors.  The “341” references the section in the bankruptcy code that requires such, and the “Meeting of Creditors”, basically states the purpose of that meeting.  The basis of this meeting is discussed elsewhere in this site, and need not be repeated here.

At this meeting, you’ll be asked a series of questions.  The questions asked at the Meeting of Creditors were mostly also answered in the original Petition.  In most cases, the actual questioning will not last longer that 4 or 5 minutes.  There are several standard required questions that are asked in all cases.  In fact, if you sit in the meeting room for any length of time, you’ll get sick of hearing them.  These questions are not designed to fool or trick you, not are they adversarial in nature.  Through careful preparation with your bankruptcy attorney, this should be a simply process.  These questions are designed to simply inquire about your assets, debt, and income, and make sure the items listed in your petition are correct.

While it’s impossible to guess with 100% accuracy what questions will be asked at your Meeting of Creditors, there are many questions which are asked with such regularity, that you should prepare for these questions in advance.  The following is a list of questions that I hear on a daily basis while in the 341 Meeting of Creditors there in St. Charles County.  I recommend you review these questions, and make sure you can properly answer them in advance.  Doing this will ensure your 341 Meeting goes as smoothly as possible.

Common Questions Asked at the Meeting of Creditors

  • Is the address on your ID still current?
  • Did you read the bankruptcy documents prepared by your attorney?
  • Did you sign those documents?
  • Were all of your questions answered before you signed?
  • Is this your signature?  (showing you the petition signature page)
  • Did you list all of your assets?
  • Did you list fair and reasonable values for your assets?
  • Did you list all of your debts? (Did you list all creditors?)
  • Did you need to add any assets or creditors?
  • How did you come up with the value of your house (Or Vehicle)?
  • Did you properly list your income?
  • Is the tax return your provided a copy of the most recent tax return filed with the IRS?
  • Is the income listed on Form 22B (Means Test) accurate?
  • Did you tell your attorney about all forms of income for the 6 months prior to filing the bankruptcy petition?
  • Do you get or pay Child Support or Alimony (Domestic Support Obligation)?
  • Did you repay and Friends or Relatives in the last 6 months and money you owed them?

Other questions will surely be asked, and you should be ready to answer them if you’re read through your Petition and reviewed the questions above.