Your “341 hearing” will likely turn out to be your only court appearance in your Chapter 7 case. Here is good news: Chapter 7 hearings are fast, informal and not likely to result in any problems for you. 341 hearings in Chapter 7 are mandatory - if you fail to attend, the law says that you cannot receive a discharge.
341 hearings are almost always held in a large conference room around a large conference table, as opposed to a formal courtroom. There is no judge present - only a Chapter 7 trustee. Your Chapter 7 trustee is a lawyer who serves as a trustee part time - sometimes only 2 or 3 days a month.
We advise our clients to show up 45 minutes to an hour before their scheduled hearing time. 341 hearings are scheduled on the half hour - if you are late, you could miss your hearing. If you are late or absent, we may be able to get a reset hearing date - however, if we have to make another appearance, we will ask you for additional fees.
Note that you will be sworn in, and that your testimony will be recorded on a tape recorder.
How to survive a Chapter 7 “Section 341 Meeting of Creditors” hearing
Some Trustees ask only a few questions, others ask many. These are examples culled from actual hearings:
1. State your name and address for the record.
2. Did you meet with your lawyer or someone in his office to furnish the information contained in your Bankruptcy Schedules?
3. Was this information true and correct then?
4. Is it true and correct now?
* Identify any changes
5. Did you read and sign these papers before they were filed in Court. Have you read the Bankruptcy Information sheet prepared by the U.S. Trustee prior to today’s hearing (this sheet is posted in the hearing room or you can read it by clicking here).
6. Do you own any property now?
- please identify
7. Have you owned any property within the last 5 years?
- please identify
8. Has anyone in your family died within the last year or do you expect any inheritance within the next 12 months.
9.. Are you planning on reaffirming any property? Are you planning on surrendering any property?
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