Start Your Section 341 Creditors’ Meeting Right: Bring These Items with You!

creditors-meeting

Introduction

An individual chapter 7 debtor is required to appear and respond to questioning at a meeting of creditors convened under section 341 of the Bankruptcy Code.  In most consumer chapter 7 cases, the so-called “341 meeting” is the debtor’s only appearance at any kind of hearing.  At the meeting, creditors may, and the chapter 7 trustee shall, examine the debtor about his or her financial affairs.  The Bankruptcy Code and Bankruptcy Rules set forth a number of documents that must be produced at, or before, the 341 meeting.  This article briefly outlines the documents a consumer debtor should bring to ensure that the 341 meeting goes off without a hitch.

What to Bring

  1. Picture ID issued by a governmental unit or other personal identifying information establishing the debtor’s identity.
  2. Evidence of a social security number, or a written statement that such documentation does not exist.
  3. Evidence of current income such as the most recent payment advice for the period from and after the 60 days before the petition date.
  4. Statements of the debtor’s depository and investment accounts for the time period that includes the petition date:
    1. Checking
    2. Savings
    3. Money Market
    4. Mutual funds
    5. Brokerage accounts.
  5. If required by the means test provisions, documentation of monthly expenses.
  6. Tax return. At least 7 days before the first date set for the 341 meeting, the debtor must provide to the trustee a copy of the debtor’s federal income tax return for the most recent tax year ending immediately before the commencement of the case and for which a return was filed, including any attachments, or a transcript of the tax return, or provide a written statement that the documentation does not exist.

Conclusion

Individual debtors may approach the 341 meeting with some apprehension.  Ensuring that you’ve brought the required documentation may go a long way to reducing your unease.

Author: westchesterbankruptcylawyer

https://www.avvo.com/assets/badges-v2.jsLawyer Ted Zink | Featured Attorney Bankruptcy

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