Typical Questions by Minnesota Trustees
Many of my clients and prospective clients become very concerned when faced with the idea of a 341 meeting of creditors in bankruptcy. For those unfamiliar with bankruptcy or contemplating bankruptcy, a 341 meeting is the chance for the trustee and any creditors to ask questions related to the bankruptcy filing. Creditors rarely attend the meeting. Although I attempt to explain that most meetings only take 2-5 minutes, individuals are nevertheless concerned about being under oath in a public place having to answer for their debts.
Typical questions a trustee will ask during a 341 meeting are:
Did you read the petition, schedules and related documents and did you sign them?
Is the information contained in the petition, schedules and related documents true and correct?
Did you list all your creditors? Did you list all your assets?
Have you read the Bankruptcy Information Sheet provided by the Trustee?
Have you made any payments over $600.00 to an unsecured creditor in the 90 days?
Have you made any transfers of property to friends or relatives within the last 6 years?
Have you made any transfers of property to anyone in the last year?
Is any money owed to you by anyone or are you entitled to receive proceeds from a lawsuit or inheritance?
These are examples of questions that you will go through with your attorney prior to filing. What I try to instill in my clients is that because the meeting is so short the trustee usually asks very few questions. Don’t make a mountain out of a mole hill (or a 341 meeting).
Write a comment
- Required fields are marked with *.