341 Meeting of Creditors – What to Expect

What to Expect at 341 Meeting of Creditors

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In Chapter 7 bankruptcy cases, you will be required to attend a 341 Meeting of Creditors (often called a 341 Meeting) held at the bankruptcy court.  In a vast majority of cases, this hearing will be the only time you will be required to appear in court. The purpose of the 341 Meeting is for the Chapter 7 Trustee to conduct an investigation into your finances and confirm that your paperwork is accurate.  Creditors may also appear to ask questions, but in most cases they will not.

In Michigan, the 341 meeting of creditors is typically set between 21 and 40 days of the time the case was filed. The hearing will be held in a small meeting room typically composed of a handful of other filers, their attorneys and the Chapter 7 Trustee. The meeting usually is conducted in five minutes, but may go longer depending on the complexity of the Debtor’s case.

Important Reminders

• -Be on time
• -Suits and ties aren’t mandatory but dress like you’re going to court.
• -Bring your drivers license
• -Bring your social security card
• -Bring your filing fee (if it hasn’t already been paid)
• -Answer all questions fully and honestly

What Questions will the Bankruptcy Trustee Ask?

The trustee is essentially trying to verify the information in your bankruptcy petition. Since you provided us all the information that goes into the petition you already know all the right answers! Just remember that the “right” answers are the truthful answers so it’s not like you need to study or have a game plan. Some typical questions might include some variation of the following:

• -Have you previously filed for bankruptcy in Michigan or another state? If so, when?
• -To the best of your knowledge, is the information in your bankruptcy petition true and correct?
• -Is this your signature?
• -How long have you lived in Michigan?
• -Does anyone owe you money? Do you have any reason to sue anyone?
• -Is your name on any other property?
• -Have you filed your income taxes yet?
• -Have you read the bankruptcy information sheet?
• -Do you own any other motor vehicles such as boats, ATVs, or motorcycles? What about trailers?
• -Have your wages been garnished within the last 90 days? If so, how much was garnished?
• -Have you paid any relatives back recently? When? How much?
• -Do you have any other sources of income other than what’s listed in your bankruptcy petition?
• -How much did you pay your attorney to file bankruptcy?
• -Do you owe or are you owed any domestic support obligations?
• -Do you have any questions for me?

Don’t Sweat It

The thought of appearing in court often intimidates and deters potential bankruptcy filers. We liken the 341 meeting of creditors to a visit to your local Secretary of State branch- the worst part is usually the waiting.  The Trustee’s questions should be straightforward and simple and one of our attorneys will be there with you. Either Drew, Nick or Scott will be there with you to keep you informed on what to expect and guide you through the examination should you not understand any of the questions.

Eastern District of Michigan

We’re admitted to practice in the United States Bankruptcy Court – Eastern District of Michigan. Depending on where you live, you’ll either go to the court in Detroit, Ann Arbor, Bay City, or Flint for your 341 Meeting of Creditors.

Detroit Bankruptcy Court

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Flint

Bay City

Ann Arbor

200 E. Liberty St.
Ann Arbor, MI 48104