Fremont Bankruptcy: The 341 Hearing with the Creditors

You must attend a hearing called the “Meeting of Creditors” whether filing a Chapter 7 or Chapter 13 Bankruptcy.  This meeting allows the trustee, a non-judicial court -appointed official, to ask the debtor about his/her assets and liabilities. The meeting is administered by the trustee and he/she will verify the accuracy of the information on the documents filed with the court.  The meeting will also determine if you have assets that exceed the exemption limits that the state and federal law permits you to have. 

The meeting is informal and usually takes place about 30 days after filing the case.  It will only last about 5 to 15 minutes and you should arrive 15 minutes before your appointment to meet with your lawyer.  You will have to show identification with photo and your Social Security Card before the meeting begins. This meeting is mandatory and you will not receive your discharge unless you attend it.  Although creditors have the right to appear at the meeting and ask questions regarding your debts, they usually do not attend these meetings.

The trustee will ask questions regarding the documents filed in the meeting. Here are a few questions that may be asked:

1.    What is your name and address?
2.    Did you review the bankruptcy petition with your attorney before filing?
3.    Did you list all of your debts?
4.    Did you list all of your assets?
5.    Are the schedules accurate or are there corrections that need to be made?
6.    Have you ever filed a bankruptcy?

Essentially, the point of this meeting is to make certain that one qualifies to file bankruptcy and that one has revealed all their assets and debts. Call Sagaria Law to schedule an appointment in Fremont for consultation to get you started on the road to a fresh start.

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