Bankruptcy Trustee Meeting Preparation

Guiding You Through Your Bankruptcy Trustee Meeting

At Arnholt & Staggs Law Office, we understand that preparing for your Bankruptcy Trustee Meeting, or 341 hearing, can be a daunting task. We're here to provide a hands-on approach to every case, ensuring you're well-prepared and confident. Why wait? Call (812) 301-6525.

What to Expect at the Bankruptcy Trustee Meeting?

The Bankruptcy Trustee Meeting is a hearing conducted in front of a bankruptcy trustee, and in most bankruptcy cases, it is the only hearing held. While many individuals feel anxious about this event, Arnholt & Staggs Law Office provides you with information beforehand to prepare you, ensuring you know what to expect.

In truth, most Bankruptcy Trustee Meetings last less than ten minutes. Whether conducted via video, telephone, or in person, the hearing typically comprises a series of questions posed by the Trustee regarding your financial situation and the documents filed in your bankruptcy case. Our attorney will meet with you before the hearing date to review what you can anticipate.

Below is a list of questions commonly asked at the Bankruptcy Trustee Meeting. Although not all of these questions may be posed, you should expect that most inquiries from the Trustee will derive from this list. Be ready to address any that may apply to your situation:

• You may be asked to confirm your name, birthdate, SSN, address, place of employment, and employer's address.
• Did you sign the petition, schedules, statements, and related documents?
• Did you read the petition, schedules, statements, and related documents before you signed them?
• Are you personally familiar with the information contained in the petition, schedules, statements, and related documents?
• Is the information contained in the petition and all accompanying documents true and correct? Are there any errors or omissions that you are aware of at this time?
• Have you identified all of your assets on the schedules? (Assets include anything of value including financial accounts of all kinds, real estate, and personal property, including even clothes and wedding rings).
• Have you listed all of your creditors on the schedules?
• Have you previously filed bankruptcy? (Generally bankruptcies older than 8 years for Chapter 7 and less for Chapter 13 are fine, but they still need to be disclosed to the Bankruptcy Court and Trustee).
• Is the copy of the tax return your attorney provided to my office before this meeting a true copy of the most recent tax return you filed?
• Do you have a domestic support obligation such as child support or alimony that you owe another? To whom? You may be asked to fill out a form to provide the claimant’s address and telephone number.
• You will be asked if you are current on your post-petition domestic support obligations?
• Have you filed all required tax returns for the past four years? If you have not, you likely are not going to be eligible for bankruptcy relief unless you can get these done and quickly filed before a motion to dismiss is filed.
• If you are expecting a tax refund for the year prior to filing your bankruptcy, you will need to send the refund check to the Trustee (do not direct deposit) and the Trustee will do a calculation after the meeting to prorate the amounts over the 365 days of the preceding year. The Trustee will return a portion to you representing any exemptions claimed and for the time period after you file bankruptcy.
• Did you review the bankruptcy information sheet (this was provided to you when you hired us and explains the various types of bankruptcies and the classes you must take)?
• Have you repaid any debts to family or friends in the last year?
• What is the reason for your bankruptcy filing?
• How did you arrive at the values you listed for your personal property on your schedules? (I will be able to help you answer this question if needed).
• Are you paid by the hour or salary? What is your hourly rate/salary?
• Identify any ownership interest and mortgages for real estate, even out of the country (all of this should be listed on your petition also).
• Any transfers (giving or selling) anything to relatives or insiders in the past two years?
• Anyone holding any property for you?
• Have a claim against anyone else such as a slip and fall, car accident, someone owing you money, etc.?
• Entitled to life insurance proceeds or an inheritance upon someone’s death?
• Are you a beneficiary or trustee of a trust?
• Do you own a business?

Why Choose Arnholt & Staggs Law Office?

With Arnholt & Staggs Law Office, you're not just another case number. Our smaller practice size allows us to provide focused attention to each client, ensuring you're well-prepared for your Bankruptcy Trustee Meeting. With our free initial consultations, you can discuss your case without any financial commitment. Don't delay,   reach out today.

Get in Touch Today

Ready to take the first step towards a successful Bankruptcy Trustee Meeting? Contact Arnholt & Staggs Law Office  today. We're ready to provide the guidance and support you need, with the personalized attention you deserve. Remember, your initial consultation is free.