What do I Need to Know About the Meeting of Creditors?

What do I Need to Know About the Meeting of Creditors?

When facing a bankruptcy case, it is important to be aware of one of the most important parts: the 341 meeting. Sometimes referred to as the meeting of creditors, this is when you will meet with your attorney, trustee, and creditors to assess your finances and determine the best way to move forward with your bankruptcy filing. Like any other legal proceeding, it is best to be properly prepared for this meeting. Continue reading below to learn more and contact an experienced New York bankruptcy attorney for assistance with these cases.

What Should I Bring to a 341 Meeting?

When preparing to attend your 341 meeting, be sure to gather the following documentation to provide:

  • Recent bank statements
  • Your Social Security Card and ID
  • Documents regarding your expenses under the means test
  • All of your bankruptcy papers
  • Proof of income, such as pay stubs, W-2s, or tax returns
  • All other documents the trustee lists in the Notice of Meeting of Creditors
  • Any other documents your attorney advises you to bring, based on your specific situation

What Should I Expect During the Meeting?

During the meeting of creditors, the trustee will ask you a variety of questions. This is in order to get a better idea of your financial situation. This can include whether you are expecting an inheritance, property from a divorce, if you will receive a tax refund, etc. Generally, these meetings are not long at all. In fact, the meetings rarely last longer than 10 minutes. With the assistance of a skilled attorney, you can work to expedite this process efficiently.

What Happens After the Meeting of Creditors?

When the meeting of creditors ends, the court will issue debtor orders. This may require you to hand over certain property, assets, or information to your bankruptcy trustee. It is important to be aware that this is not optional. If you fail to adhere to this order, there is a chance your case can be dismissed entirely. An attorney can properly guide you through these matters to ensure you are in accordance with all mandates in your case. 

Contact our Firm

Zimmet Law Group, P.C. is an experienced team of attorneys guiding clients through matters of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, and landlord-tenant law. If you require the services of an effective New York City attorney, contact our firm today to schedule a consultation.

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