341 Meeting of Creditors – What to Expect
Important: Things to remember when answering these questions:
- Always tell the truth
- The Trustee does not represent you. Keep your answers as short & concise as possible and do not offer any information unless specifically asked. Remember you are being recorded!
- A representative from our law firm will be with you at the meeting.
- If you believe you will have a problem answering one of these questions please ask to speak privately to your attorney off of the record.
The following are typical questions that will be asked of you during your 341 meeting of creditors by a Representative from the Chapter 13
- Can you briefly explain what caused you to file this bankruptcy?
- Did you provide all the information used to complete the petition, schedules and other related documents that were filed in your case?
- Did you provide all the information truthfully and accurately?
- Did you review the petition, schedules, statements, and other related documents before you signed them?
- To the best of your knowledge, is the information contained in the petition, schedules, statements, and other related documents true and correct?
- Are there any errors, omissions, or changes that need to be corrected?
- Have you ever filed bankruptcy before?
- Do you currently have a domestic support or child support obligation? Are you current on that obligation since the bankruptcy was filed?
- Have you lived in Texas for at least the last two years?
- Do you own any interest in land or real estate that was not included in the original paperwork?
- Do you own any other property (assets other than real estate – cars, boats, etc) that was not included in the original paperwork?
- Do you own any stocks, bonds, or other financial accounts that are not listed in the original paperwork?
- Have you owned or operated a business within the last 6 years? Or have you owned any interested in a business within the last 6 years?
- Is anyone holding any assets for you that are not listed in your schedules?
- Have you transferred or sold any assets within two years of the filing of your bankruptcy case?
- Does anyone owe you any money to anybody or could you sue anyone or any business for any reason?
- Are you currently in charge of or entitled to any trust, inheritance, or insurance proceeds?
- Have you made any payments over $600 to any creditors in the last 90 days?
- Have you made any payments to any insiders, friends or relatives in the last year?
- Do you understand that if you are entitled to any windfall of money, such as an inheritance, insurance proceeds, or lottery, that you must report that to your attorney and to the Trustee before you spend any of that money?
Chapter 13 Only
- Do you understand that you are not allowed to incur any new debt while you are in this Chapter 13 case without special permission from either the Trustee or the Court?
Chapter 7 Only
- Have you completed your financial management course?