Bankruptcy: What Happens During the Hearing?

The hearing, commonly known as the 341-Hearing or Meeting of Creditors, is the Trustee’s opportunity to ask you questions to confirm that the information contained in your bankruptcy paperwork is accurate and complete.  The hearing takes 5-15 minutes, and although technically Creditors can appear, they do so in less than 5% of the case. Typically questions asked are:

  • Did you read the paperwork before you signed it?
  • Did you list all of your assets?
  • Did you list all of your creditors?
  • Have you paid back any family member in the past year?
  • Have you transferred any property to any family members in the past 2 years?
  • Have you sold any vehicle or home in the past 2 years?
  • Does anyone owe you money?
  • Is there anyone that you can sue for any reason?

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