26, · e meeting of creditors is where e bankruptcy trustee and any interested creditors can ask you questions about your bankruptcy papers and financial affairs while you are under oa. e trustee’s job is to make sure at you are not abusing e bankruptcy system or . 29, · SECTION 341(a) MEETING OF CREDITORS REQUIRED STATEMENTS/QUESTIONS.. 1. State your name for e record. Is e address on e petition your current address? 2. Please provide your picture ID and social security number card for review.. If e documents are in agreement wi e § 341(a) meeting notice, a suggested statement for e record. 03, · SAMPLE GENERAL QUESTIONS (To be asked when deemed appropriate.). Do you own or have any interest whatsoever in any real estate? If owned: When did you purchase e property? How much did e property cost? What are e mortgages encumbering it? What do you estimate e present value of e property to be? Is at e whole value or your share? SAMPLE QUESTIONS FOR 341 Hearing APPENDIX C SECTION 341(a) MEETING OF CREDITORS REQUIRED STATEMENTS/QUESTIONS. State your name and current address for e record. 2. Please provide your picture ID and Social Security number card for identification. If e documents are in agreement wi e ' 341(a) meeting notice. 19, · For anyone called to a meeting of creditors, it’s important to be tru ful. Answer e trustee’s questions wi care and according to e facts. If you are concerned about any of e above questions, contact your attorney immediately. Creditors Can Ask Fur er Questions. On rare occasions, a creditor appear at your meeting of creditors. 25, · If you have any fur er questions about filing bankruptcy schedule your free no hassle consultation wi one of our attorneys today by calling (602) 262-4357 or fill out e form to e right of is article on e questions you be asked at your Bankruptcy 341 Meeting of Creditors. 341 Meeting is brief and fairly informal, and usually boils down to answering some standard straightford questions posed by e bankruptcy trustee. Your attorney will be present at is meeting and will support you and will take note of trustee’s requests or additional questions, if necessary, and in most cases creditors do not show up. SECTION 341(a) MEETING OF CREDITORS SAMPLE STATEMENTS/QUESTIONS. State your name for e record. Is e address on e petition your current address? 2. Please provide your picture ID and Social Security number card for review.. When e documents do not match e petition, e trustee shall attempt to ascertain why and shall report e matter. For most people, a creditors’ meeting should not be a concern. When A Creditors’ Meeting Is Called. When a meeting is called, ei er at e request of e creditors, or because of e value and complexity of e bankrupt’s situation, it is usually to deal wi a very specific concern or issue. For example, e bankrupt have an. Feb 20, 2009 · Common Questions Asked During a Creditor's Exam or 341 Meeting . LEGAL GUIDE. Written by attorney Scott J. Brogan. Feb 20, 2009. Saved Save. Common Questions Asked During a Creditor's Exam or 341 Meeting. Bankruptcy petition Inheritance rights Social security Government law Tax return. Show 2 more Show 2 less. Sample Questions – 341 Meeting of Creditors e following is a list of questions at should be expected to be asked by e Trustee overseeing e meeting. e purpose of his questions ensure e accuracy of e petition and ensure e debtor is a good candidate for bankruptcy. e Trustee is also looking for assets at not be listed. 30, · Questions a Creditor Might Ask You at e Meeting. After you take an oa promising to give tru ful testimony under penalty of perjury, creditors in attendance will have e opportunity to ask you questions about your personal and business finances, and assets. Here are examples of possible questions. Apr 22, · At e 341 meeting of creditors, e trustee will ask questions from a list. We discuss some examples of e most common 341 meeting of creditors questions. At e 341 meeting (also called e creditors' meeting), e trustee ask about your bankruptcy forms, property, debts, and more. By Lisa Guerin, J.D. During your bankruptcy case, whe er you file under Chapter 7 or Chapter 13, you will have to attend a meeting wi your creditors and e bankruptcy trustee in charge of your case. Also, a creditor cannot use e meeting as a fishing expedition to ask e debtor very general questions. Al ough a creditor has e exact right to do at, it is done pursuant to a Bankruptcy Rule 2004 exam, and not at e meeting of creditors, where time is very limited. ese are e Trustee questions at a Chapter 7 bankruptcy 341 meeting of creditors. e Trustee will already have e documents you gave us. He reviews your bank statements and taxes to ensure you didn’t give creditors or family money or assets just before filing. He will also review e mortgage and car titles to make sure liens are correct. e 341 Meeting of Creditors is an opportunity for your creditors to question e dismissal of e debt you owe em. If ey believe eir debt should not be discharged in your bankruptcy for any reason, is is e time ey’ll raise eir concerns. 13, · Potential Meeting of e Creditor Questions. When you file a bankruptcy, whe er Chapter 7 or Chapter 13, you will have to go to some ing called a Meeting of e Creditors. At is hearing, e Trustee in your case will ask you a few questions under oa. 14, · A 341 meeting of creditors is a short court appearance where e trustee (and any creditors who attend) can ask various questions about your bankruptcy filing. 06, 20 · e meeting of creditors is also called e trustee’s meeting and e 341 meeting (after section 341 of e bankruptcy code which compels e meeting). is notice informs e creditor, among o er ings, at e debtor has filed a bankruptcy. of contact information for e debtor’s attorney and e trustee assigned to e case. and of. Fur er creditor meetings can be convened in bo procedures if required but is is not common as most matters can be dealt wi remotely. No meeting of creditors take place on an MVL as is is a solvent liquidation procedure and all creditors should be . 28, · While e trustee’s questions will depend somewhat on your specific file, many of e questions are standard. Knowing some of ese questions ahead of time can put you at ease. Reviewing ese questions will also help your Meeting of Creditors go quickly and smoo ly. Below is a list of trustee questions. Questions 1-15 are commonly asked. A) Purpose of 341(a) Meeting - Soon after a bankruptcy case is filed, a meeting is held so at creditors and e trustee can ask questions about e debtor’s financial situation. is meeting is required by Bankruptcy Code section 341(a) and e meeting is presided over by ei er e trustee assigned to e case and/or a representative of e U.S. Trustee’s Office. e Chapter 7 meeting of creditors (also called e 341 hearing) is a meeting at which e bankruptcy trustee and your creditors get to ask you questions under oa about your bankruptcy petition and e documents you’re required to provide to e trustee. e meeting of creditors is essentially a hearing used to verify at e information. 17, · Creditor Questions Businesses Can Expect at e Creditor Meeting. Creditors rarely show up, but ey can also ask questions. Creditor questions are limited to e business's finances and conduct. at said, a creditor will likely use e meeting as a fact-finding mission and inquire about financial practices at could open e door to a fraud. e meeting of creditors (also called e 341 hearing) is a mandatory hearing almost all bankruptcy debtors must attend. At e 341 hearing, creditors have e right to ask you questions under oa about your bankruptcy papers and financial affairs. But in most cases, creditors rarely attend 341 hearings. 03, · How to Prepare for e 341 Meeting of Creditors. e 341 Meeting of Creditors is a necessary part of any bankruptcy in e U.S. It gets its name from section 341 of e Bankruptcy Code. During e meeting, you and your attorney will meet. 14, · e meeting of creditors is for finding any kinks in your payment plan, and hopefully straightening em out. Chapter 13 adjustment of debts is all about e plan. e Chapter 13 plan is a detailed statement who you will pay, how much, and when, and . Once e creditors have been given notice of e meeting, e voting will start. Each set of votes will be reviewed. You’ll also get a letter confirming e date and time of e meeting.In order for your IVA to be approved, more an 75 of e value of e creditors at vote must agree to it. For example, bankruptcy law states at you must provide e trustee a copy of your most recent federal income tax return at least seven days before your meeting of creditors. But depending on e rules in your jurisdiction, you need to provide several additional documents to e trustee before going to your 341 hearing. is page describes e structure of e 341 meeting and e questions at our office asks during e meeting. OVERVIEW §341 of e Bankruptcy Code states at trustee shall call a meeting of creditors to be held. e business of e meeting shall include e examination of e debtor under oa.. e lack of time for creditors to ask questions to e debtor leaves e creditor little to gain by attending e meeting. During e 341 Meeting e purpose of a 341 meeting is to obtain sworn testimony from e debtor to verify e validity of e information provided in e debtor’s bankruptcy petition (bit.ly/13OfAB3). e following questions can be expected to be asked by e trustee to a business debtor during meeting:. Please state your name and current address for e record. 2. Please provide your picture ID and social security card for review. Examples of such property include personal injury and workers’ compensation claims, whole life insurance claims, inheritances, and any claim against someone for money.As part of is investigation, e trustee asks questions about large payments to creditors or . 09, · Your Chapter 7 bankruptcy Trustee will be ere and will be e person conducting e meeting. Creditors usually will not show up for a 341 Meeting because ey are not required to attend. But ere situations where creditors attend. For example, if you have a boat at you did not list on your petition for bankruptcy, e creditors will. Creditors are given time to consider e CVA proposal prior to eir meeting, which usually takes place at e same time as a meeting of members. Creditors can question e directors and insolvency practitioner about e company’s position and e CVA proposal. If ey have submitted a . Many creditors do not know whe er or not attending e 341 meeting or meeting of creditors would be beneficial to em. e answer largely depends on e particular circumstances of e debt. However, as a general rule, attending is meeting does not provide a creditor a large benefit. A few examples of questions e trustee. 15, 2009 · A 341 meeting of creditors also sounds very formal and serious, and it conjures up images of being trapped in a room wi angry, impatient creditors. But e reality is at for individual debtors filing Chapter 7 or Chapter 13 bankruptcy in New York, it’s just you, your lawyer and e trustee. If for any reason you have more questions about e 341 meeting of creditors or have a special case, do not hesitate to call our office at (602) 262-4357, we would be more an happy to go into more detail about is wi you. 341 Meeting of Creditors FREE Bankruptcy Advice Meeting of Creditors. 02, · Calling is ga ering a meeting of creditors is a bit of a misnomer. 99 times out of 0 is meeting is between me, you, and your bankruptcy trustee. Your creditors are obviously entitled to appear at e meeting and ask you questions, however ey are not required to and most creditors at do show up simply don’t understand e. 04, · Coming out of e meeting of creditors, he realized just how much it cost him. A few mon s back I was waiting wi a client for eir meeting of creditors to be held. It was e typical setup: lots of nervous people, a few lawyers scurrying around, and me – talking nonsense wi my client. e court not preside at, and not attend, any meeting under is section including any final meeting of creditors. Notwi standing any local court rule, provision of a State constitution, any o erwise applicable nonbankruptcy law, or any o er requirement at representation at e meeting of creditors under subsection (a) be by an attorney, a creditor holding a consumer debt or any.