Under Chapter 341 of the federal bankruptcy code, creditors have an opportunity to attend a meeting with the debtor which is called a 341 creditors meeting. As the debtor you do have to attend this meeting. This meeting is not a court hearing nor is it attended by a judge. Instead, it is an opportunity for you, as the debtor and the trustee of your bankruptcy (who is appointed by the court) to review your petition. Your Marietta bankruptcy lawyer can attend this meeting with you. For a typical Chapter 7 bankruptcy, the meeting will be held at least 21 days after you file and not later than 40 days after the filing. Chapter 13 bankruptcy filers will meet with you within 21 days but no more than 50 days after the original filing.
Making Your Bankruptcy Case
The 341 meeting allows the trustee to review your entire bankruptcy filing and to ensure that the information you provided is accurate and the forms are filled out completely. Talk to your Marietta bankruptcy lawyer before this meeting as you may need to bring specific documents with you including (but not limited to)
- Copies of your mortgage documents
- Titles to any vehicles you own
- Any property deeds that apply
- Bank statements for specific periods of time
- Federal and/or state tax returns
- Pay stubs for all filers
In addition, the trustee may require you to bring proof of residence including photo identification and well as your social security card. Your bankruptcy attorney in Marietta can provide you a list of the documents that will be necessary to bring to this hearing.
Typical Issues Addressed by Trustee
Your bankruptcy lawyer in Marietta will likely help you understand what questions the trustee will be asking you. Generally, the issues that need to be addressed will include:
- The reason you are filing bankruptcy
- Determining that all the forms and schedules are accurate and have the right values
- Where any creditors paid off within three months of your filing
- Whether friends or relatives loaned you money that was repaid in the prior three months
- A description of any property that you sold or gave away in the last few years
- Whether you currently own a business or previously owned a business
- An explanation of how you arrived at the values for property on your schedules
- Proof that your income was accurate on the schedules and that the right amount was used for means testing (Chapter 7 only)
- Your marital status, whether you have dependents and whether you owe any back support payments
- Whether you have begun making expected payments (Chapter 13 only)
Keep in mind, there may be additional questions including whether your job and income is stable as well as others. It is also important to remember that your creditors may be present at this meeting and they have the right to ask you questions as well although in many cases, they will not do so.
Filing bankruptcy in GA is never an easy decision but if you are overwhelmed with debt, you have the option to use the bankruptcy code as it was intended to be used. A creditors meeting is nothing to be concerned about and your GA bankruptcy attorney can help you prepare. If you are considering filing bankruptcy, contact Roger Ghai, a bankruptcy attorney in Marietta at the Law Offices of Roger Ghai at (770) 792-1000 for assistance.