How to Prepare for Your Meeting of the Creditors

By Tara | Leave a Comment

If you have filed, or are considering filing for Chapter 7 bankruptcy in Melbourne, FL, there are a handful of meetings that you will be expected to attend. One of which is called the “meeting of creditors,” or the “341 hearing.” During this meeting, you will meet with your attorney, the bankruptcy trustee that was assigned to your case, and any of your creditors that may want to attend. You’ll be able to give your official testimony, and you may be asked questions about the circumstances that led to your bankruptcy. These meetings are generally held in your nearest federal building.

While it’s normal to feel nervous about your 341 hearing, with the right preparation and the right bankruptcy attorney, you can tackle this meeting with confidence. Here are a handful of tips to help you do your best:

1. Don’t be late

One of the worst things that you can do during your bankruptcy is be late to your appointments, and especially your meeting of creditors. Plan to arrive early, especially since your attorney will likely want to meet with you beforehand. Give yourself plenty of time to find parking, use the restroom, and mentally prepare.

2. Bring the requested paperwork

Your Melbourne bankruptcy attorney will advise you on the types of paperwork you may need during your meeting, so make sure you have the right forms and copies organized and ready to go. Make sure you also bring your state and/or federal I.D., proof of SSN, bank statements, paystubs, and other evidence too.

3. Stay calm

Too many people get overly stressed about their 341 hearing, and end up making themselves look bad in front of the trustee and other parties present. In truth, the vast majority of these hearings are very quick and smooth, and are nothing to get worked up about. Remember to breathe deeply, stay hydrated, and eat beforehand if that helps.

4. Speak only when asked to

To make your meeting of creditors go easily, only talk when you are asked a question. Try to allow your bankruptcy lawyer to do most of the talking- they know what they’re doing! When you do give your testimony, keep it short, simple, and honest. It won’t do you any favors to ramble on and on, embellish the details, or share too much personal information.

Want more information about filing Chapter 7 bankruptcy? Get in touch with us at Harnage Law today and ask for your free consultation!