341 Meeting of Creditors

While there are multiple options for bankruptcy, they all have one thing in common: the 341 meeting of creditors. Outlined in section 341 of the United States bankruptcy code, this meeting requires debtors to answer questions about their debts and finances. While they don’t always appear, creditors are notified of this meeting and can attend it to ask a person questions regarding their bankruptcy filing.

Being prepared for your 341 meeting of creditors is important because it can determine how successful your bankruptcy process is. One of the best ways to prepare for your meeting of creditors is by working with the Massachusetts bankruptcy lawyers from Miller Law Group, P.C.. Our team will investigate your situation and make sure your 341 meeting is handled correctly.

Call our team now at (888) 874-2142 to prepare for your 341 meeting of creditors. Our Massachusetts bankruptcy lawyers will work to help you file for the right bankruptcy and handle your meeting correctly.

What to Expect During a Massachusetts 341 Meeting of Creditors

The meeting his held approximately 40 days after a person files for bankruptcy. While all creditors a person has debts with are notified of the 341 meeting, they’re not required to attend it. However, a debtor must appear at their hearing to answer questions from the trustee assigned to their case and any creditors who decided to attend the meeting.

Questions asked during the 341 meeting involve a person’s income, property, assets, expenses, and debts. They’re meant to help the trustee understand a person’s situation and whether their bankruptcy plan will work for them.

A 341 meeting will include questions involving:

• A person’s real estate or rent costs
• Personal property
• Tax returns
• Bank and investment accounts
• Employment
• Income
• Expenses
• And more

These questions will help the court understand why a person is filing for bankruptcy and if they’re filing for the right type of it. Additionally, the trustee might ask about the debts that a person can’t discharge from bankruptcy (secured debts) and how they intend to pay them off.

Why Working with a Lawyer Is Smart During Bankruptcy

The 341 meeting is one of the most obvious ways to see the benefits of working with a bankruptcy lawyer. While nothing guarantees the outcome of your bankruptcy hearing, working with a lawyer provides you with help from a person who is familiar with how the process works. A lawyer will prepare you for your 341 hearing by helping you gather all information needed for it, prepping you for the questions you’ll be answered, and addressing any other issues that might be unique for your situation. Additionally, since the meeting requires an oath, having a lawyer will help ensure that you’re accurately presenting all information.

Prepare for Your 341 Meeting of Creditors with Miller Law Group, P.C.

When you call Miller Law Group, P.C., you’re turning to a group of lawyers who are focused on helping clients secure the financial freedom that they deserve. We provide the attention that every case deserves, and even meet each week to share our work and gain the perspective of other lawyers at the firm. When you call us, you’ll be connected to a member of our legal team who is ready to discuss your situation and help you decide if we’re the right firm to work with.

Call us now for a completely free consultation. Our MA bankruptcy lawyers are ready to start the process when you call (888) 874-2142.