Kansas City Missouri Bankruptcy

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Bankruptcy 341 Meeting of Creditors.

When a bankruptcy is filed, the court will set a 341 Meeting of Creditors. You may also hear it called a “trustee meeting,” or just “341 Meeting.”  This meeting is named after section 341 of the bankruptcy code. Your attorney will advise you of the date of the meeting and will appear with you. This meeting involves you, your attorney, the trustee, and any creditors that wish to attend. The trustee is an attorney who is assigned to look for assets. If you have an ability to pay creditors, the bankruptcy code may require you to liquidate assets or pay out of your income.  Both Chapter 7 and chapter 13 cases will have a 341 Meeting.

Trustee Asks Questions.

The trustee assigned to the case is there to make sure you have disclosed all assets and all income.  The trustee in a Chapter 7 case is looking to liquidate assets that could be used to pay creditors.  In a Chapter 13, the trustee is looking to make sure you are treating your creditors fairly in your repayment plan.  That is why the trustee will ask about your assets, your past transactions, and your current income.

Creditors Ask Questions.

In most cases, no creditors will appear at a 341 Meeting of Creditors.  If creditors do choose to attend the 341 Meeting of Creditors, they may ask additional questions that they see as relevant to the case.   Many times, the creditors that show up are friends or family to whom you owe money.

Additional Paperwork.

Your bankruptcy attorney will make every effort to ensure all necessary documents have been provided in the initial filing. In the event that something comes up in the 341 Meeting of Creditors, your trustee may ask you to submit additional documents. You will be have to show photo identification and your social security card to prove your identity. If you are asked to give more information, your bankruptcy attorney will ask you to provide that to him or her.

You should not try to go through this process alone.  A Missouri Bankruptcy attorney can help you get through this process.

 

Sean C. Paul is licensed to practice law in the State of Missouri. His practice is located in downtown Kansas City. He can help you with your Chapter 7 or Chapter 13 Bankruptcy case. Sean C. Paul will give you the individual attention you deserve. He will meet with you one-on-one to determine how he can help you. If you are considering filing bankruptcy in Missouri, please call today. Sean C. Paul, Attorney at Law Google+ Profile.