The Meeting of Creditors | What You Need to Know

One of the most important steps in the bankruptcy process is attending the 341 meeting. This meeting is also sometimes referred to as the meeting of creditors. Without an attorney by your side, this meeting can be rather frightening to attend, however, with the assistance of an experienced Rockland County bankruptcy attorney, it will be a breeze. Essentially, at this meeting, you, your attorney, your trustee, and your creditors will assess your finances and figure out the best path forward with regard to your bankruptcy filing. What you present at this meeting may make the difference between being granted and being denied bankruptcy. Our firm is here to help. Here are some of the questions you may have about the meeting of creditors:

What do I need to bring to my 341 meeting?

If you are ready to attend your 341 meeting, you must bring the following documentation:

  • Recent bank statements
  • Your Social Security Card and ID
  • Documents regarding your expenses under the means test
  • All of your bankruptcy papers
  • Proof of income, such as pay stubs, W-2s, or tax returns
  • All other documents the trustee lists in the Notice of Meeting of Creditors
  • Any other documents your attorney advises you to bring, based on your specific situation

What will I be asked at the meeting of creditors?

The trustee will ask you multiple questions to get a better idea of your financial standing, including whether you are expecting any property from a divorce, an inheritance, whether you will receive a tax refund, and more.

How long is the meeting of creditors?

Generally speaking, the meeting of creditors is not long at all. In fact, the meeting seldom extends past the 10-minute mark, especially if you have an experienced attorney on your side who can work to expedite the process as efficiently as possible.

What happens after the meeting of creditors?

Once the meeting of creditors has concluded, the court will first issue debtor orders. Essentially, when they do so, they may order you to hand over certain assets, property, or information to your bankruptcy trustee. Keep in mind that this is not options, for if you fail to do so, there is a very good chance that your case may be completely dismissed. Our knowledgeable Rockland County bankruptcy attorney can work to ensure that you do so entirely. As long as everything checks out, your debts should be discharged.

Contact our experienced New York firm

The Law Offices of Allen A. Kolber, Esq. effectively represents clients facing Bankruptcy in Rockland County and all of New York State. Our firm understands the stress one can feel when facing a difficult financial future. Our compassionate staff will work to ease your fears and help you make a new start. If you need quality legal support, contact The Law Offices of Allen A. Kolber, Esq.