Before you can receive a discharge in Chapter 7 or Chapter 13 bankruptcy, you must be examined under oath by a bankruptcy trustee at a hearing called the meeting of creditors (also called the 341 hearing). Read on to learn more about the types of questions the bankruptcy trustee may ask you at the creditors' meeting.
The creditors' meeting is where the bankruptcy trustee and any interested creditors can ask you questions about your bankruptcy papers and financial affairs while you are under oath. The trustee's job is to ensure that you are not abusing the bankruptcy system or lying on your bankruptcy petition. (Learn more about what the bankruptcy trustee does in your bankruptcy case.)
In most cases, your creditors' meeting will only last a few minutes. The trustee will ask you a few simple questions to ensure everything in your bankruptcy papers is complete and accurate. However, if your bankruptcy petition does not match your supporting documents (such as tax returns and paystubs), the trustee will question you more extensively on all discrepancies. As a result, consider reviewing all of your bankruptcy paperwork before your hearing.
For more information, see How to Prepare for Your Bankruptcy Meeting of Creditors.
In addition to verifying the information in your bankruptcy papers, the trustee will be on the lookout for any other information that can increase recovery for your unsecured creditors.
The trustee can ask you about anything that may affect your bankruptcy. Since your bankruptcy is directly related to your financial situation, most questions will involve your debts, assets, income, and expenses.
To learn more, see What the Bankruptcy Trustee Looks for at the Meeting of Creditors.
Each trustee has a different way of questioning debtors. So the kinds of questions you may be asked will depend on your trustee and the facts of your individual case. But the following are some of the most common trustee questions you may encounter at the meeting of creditors (keep in mind that the time periods will vary with each trustee):