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What Will Happen In The Creditors Meeting?

While creditors are notified and permitted to attend the Creditors Meeting, most won’t bother.

The real purpose of the Creditors Meeting, or 341 Hearing, is to give the bankruptcy trustee an opportunity to question you after examining the details in your filings.

Expect to answer questions based on the information disclosed in the filing, as well as a more detailed examination of your obligations, how you determined the value of your property, money that you may have repaid friends or relatives recently, and similar topics.

If any creditors do appear, they are likely to represent lenders for big ticket items like your house and car.

They’ll want to know whether you intend to keep or sell the property, and will want to know more about the condition of the asset.

Before the meeting, the trustee will notify your attorney of the documents you should bring to the meeting.

Generally, plan to bring deeds, pay stubs, tax returns, mortgage records, car titles, and similar material that documents your financial situation.

And call the attorneys at Zelenitz, Shapiro & D’Agostino at 718-599-1111.

We’ll be beside you at the Creditors Meeting and will make sure that your rights are fully protected.