When you file for
bankruptcy, you will have to attend a hearing conducted by your bankruptcy trustee
called a “meeting of creditors” or a 341 hearing. The purpose
of this meeting is to allow the bankruptcy trustee an opportunity to ask
you questions about the information you have provided in your bankruptcy
petition, schedules, and other documentation. You will have to answer
these questions under oath.

Although this may seem like a stressful situation, there is no cause for
anxiety. Knowing what to expect beforehand can help you be more prepared
for your hearing and will help it to go as smoothly as possible.

What Will Happen During My Hearing?

Typically, only three people will attend your hearing: the trustee, your
attorney, and you. Although creditors may also show up, this is a very
rare occurrence. If they do, however, your attorney can make sure they
don’t do anything aggressive or inappropriate.

At the beginning of your meeting, the trustee will swear you in after asking
to see your Social Security card and driver’s license. They will
then begin asking you some questions to confirm the information you detailed
in your application. Answer honestly, and remember that the trustee isn’t
trying to trick you. Your attorney can help you with any questions you
need help understanding.

You might be asked to answer some of the following questions:

  • Did you review the forms that you submitted with your lawyer, and are they
    correct to the best of your knowledge?
  • Have you ever filed for bankruptcy in the past?
  • Did you disclose all of your assets?
  • Did you list all of the creditors to whom you owe debts?
  • When did you buy your home, and what did you pay?
  • How did you get into your current financial situation?
  • Have you paid your taxes and filed all of your tax returns in the last
    four years?

If they have not already been provided to the trustee in advance, they
may also ask to see some of the following additional pieces of documentation:

  • A recent pay stub
  • Financial statements showing filing date
  • Mortgage or auto loan statements showing filing date
  • Proof of insurance for home, vehicles, or other property
  • Most recent federal tax form

After you have confirmed all of the necessary information during your meeting,
the trustee will send their report to a judge. The judge will later review
and, when approved, will sign an order of discharge, at which point your
case will be closed.

We are Dedicated to Helping Good People Get a Fresh Start

The meeting of creditors is nothing to fear. Remember that your attorney
is available to help you every step of the way. Their goal is to help
get your case approved in a timely manner, and to make the process as
stress-free for you as possible.

Allmand Law Firm, PLLC has helped thousands of people regain financial
independence over the past decade. As one of the largest bankruptcy firms
in Texas, we have the kind of dedication and experience it takes to bring
you the best results. Your success is our top priority – call the
Dallas bankruptcy attorneys at Allmand Law Firm, PLLC today for a
free case evaluation and financial empowerment session.