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341 Meeting of Creditors – Orange County Bankruptcy

    When a debtor files a Chapter 7 or Chapter 13 bankruptcy in Orange County, part of the process involves attending a Meeting of Creditors, otherwise commonly known as a “341 Meeting.”  The Meeting of Creditors is known as a 341 Meeting because it is mandated under the Bankruptcy Code, 11 U.S.C. § 341.  It is conducted by a U.S. Trustee, and is attended by the debtor, the debtor’s attorney, and/or the creditors.  There will not be a judge at the meeting.

    Nature of A 341 Meeting

    The 341 Meeting serves different purposes. First, it acts as a fact-finding forum for the Trustee. The Trustee can ask the debtor questions relating to the debtor’s monthly finances. This includes questions about the debtor’s income, expenses and property. Additionally the trustee can ask whether all the filed petition paperwork is accurate and correct. Second, the hearing allows the Trustee to investigate into possible bankruptcy fraud. They do so by inquiring into the debtor’s identity and past bankruptcy filings. Finally, the hearing allows creditors to ask basic questions about the debtor’s assets and debts.

    What Actually Happens at a 341 Meeting – Orange County Bankruptcy

    You must bring your social security card and government issued identification card (e.g. driver’s license). You will also bring any missing documents the Trustee is requesting. At the hearing you will wait about 30 minutes to and hour for the trustee to call your case. This can sometimes be shorter or longer depending on the Trustee’s case load. Once called, the trustee will ask you few questions about your bankruptcy forms and your financial situation. They will confirm with you that the information on your documents are true. With regards to creditors, they rarely show up to ask you questions. Most of the time, this meeting will be a short and simple procedure.

    The Orange County Bankruptcy Attorneys at Tran Bankruptcy Law will notify you of the time and location of the meeting, and will also let you know which documents you will need to bring to the hearing.