Questions the Bankruptcy Trustee Will Ask at the 341 Meeting of Creditors
The Chapter 13 Trustee, the person tasked with administering your case, must ask all bankruptcy filers mandatory questions at the 341 meeting. Here are the questions you can count on being asked:
- Is the address on the petition your current address?
- Did you sign the petition, schedules, statements, and related documents and is the signature your own?
- Did you read the petition, schedules, statements, and related documents before you signed them?
- Are you personally familiar with the information contained in the petition, schedules, statements and related documents?
- To the best of your knowledge, is the information contained in the petition, schedules, statements, and related documents true and correct?
- Are there any errors or omissions to bring to my attention at this time?
- Are all of your assets identified on the schedules? Have you listed all of your creditors on the schedules?
- Have you previously filed bankruptcy?
- What is the address of your current employer?
- Is the copy of the tax return you provided a true copy of the most recent tax return you filed?
- Do you have a domestic support obligation? To whom?
- Have you read the Bankruptcy Information Sheet provided by the United States Trustee?
341 Meeting Questions the Bankruptcy Trustee Might Ask
Along with the mandatory questions, trustees typically ask about your property and other assets, income, expenses, and debts. Other areas will include discrepancies in your bankruptcy forms and how you came up with a value for various property items.
Many trustees’ inquiries about your particular case will come from a list of suggested questions trustees can ask when appropriate. Here are some of the questions on the list:
- Do you own or have any interest whatsoever in any real estate?
- Have you made any transfers of any property or given any property away within the last one-year period (or such longer period as applicable under state law)?
- Does anyone hold property belonging to you?
- Do you have a claim against anyone or any business?
- Are you the plaintiff in any lawsuit?
- Are you entitled to life insurance proceeds or an inheritance as a result of someone’s death?
- Does anyone owe you money?
- Have you made any large payments, over $600, to anyone in the past year?
- At the time of the filing of your petition, were you entitled to a tax refund from the federal or state government?
- Do you anticipate that you might realize any property, cash or otherwise, as a result of a divorce or separation proceeding?
View the complete 341 meeting question list.
Questions Creditors Ask at the Meeting of Creditors
Often, creditors don’t show up, even though “creditor” is in the meeting name. If creditors do come, it’s typically to do one of the following:
- Clarify how you plan to deal with a secured debt. For instance, the lender who made a car loan to you might want to determine whether you intend to give back the car, pay the lender its replacement value, or enter into a reaffirmation agreement to continue the loan after your bankruptcy.
- Ask about recent charges or cash advances. Bankruptcy law prohibits debtors from running up high bills for luxuries and cash advances just before filing. The bankruptcy discharge won’t wipe out the credit balance if the creditor pursues the matter successfully.
- Ask about application discrepancies. The creditor could inquire about differences between the information in your bankruptcy papers and the information you submitted when applying for credit.