Bankruptcy and 341 Meeting


Having a bankruptcy attorney is essentail if you're filing bankruptcy as they will represent you at the 341 meeting. A 341 meeting is a chance for all of your creditors to get together with you and the bankruptcy trustee so you can evaluate your debt. You can see how quickly you can feel outnumbered when you consider how many creditors you have and that without an attorney it's just you on the other side of the table.

Bankruptcy Attorney and 341 Meeting Proceedings

First of all, you can expect that not all of your creditors will appear at the 341 meeting and the ones that do will usually send attorneys to represent them. So it makes sense that you have your attorney at your side. The meeting will begin with you being sworn in and questioned quite thoroughly about your financial situation. The questions are designed to compare what you're saying with what you've stated in the bankruptcy petition. Then your creditors will be given the opportunity to ask you questions related to your financial situation and your debts. These questions may have to do with your life before you filed bankruptcy and what's happened since.

Preparing for a 341 Meeting

There's not a whole lot of preparation necessary in a 341 meeting, but you should gather up information on all of your debts. Then you should review your bankruptcy petition and what caused you to be in that position in the first place. Make sure that your bankruptcy attorney has all of this information and is as familiar with your situation as you are.