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Although you will usually be on the phone for 30-45 minutes your meeting of the creditors (341 Meeting) will usually last about five (5) minutes. A Chapter 7 or 13 Trustee will ask you basic questions many that are listed below. Creditors usually do not show up for this meeting. Any of your testimony will be recorded and used against you if there is a dispute. Your answers must be brief and direct. The Trustees are respectful but are not your “friend.” Their job is to administer your bankrupt estate, find assets to liquidate and pay your creditors. They work for the benefit of the unsecured creditors and the Government, not you.
In order to prepare for the Meeting of the Creditors, you must review your Bankruptcy Schedules and be familiar with your answers. If there are any omissions let us know so we can amend. Remember disclosure is essential to you receiving a “fresh start.” Most of the questions that the Trustee will ask will come from the Schedules. We are not allowed to answer questions for you.
Here are some of the usual questions asked by the Trustee:
Trustees do not like when you give evasive answers like: I don’t know; I can’t remember. Be truthful. Remember, only honest people receive a discharge of their debts in bankruptcy.