What does the Chapter 13 Trustee Ask at a Meeting of Creditors

When you file for Chapter 13 bankruptcy, you are required to attend a meeting of creditors. This meeting is commonly referred to as a 341 meeting, named after the section of the bankruptcy code that requires it. The meeting is conducted by the Chapter 13 trustee assigned to your case. Many people wonder, “What does the Chapter 13 trustee ask at a meeting of creditors?”

The trustee’s primary role is to represent the interests of your creditors. They are there to ensure that your proposed payment plan is feasible and that you are committing all of your disposable income to repay your debts. Here are some questions the trustee may ask during your 341 meeting.

1. Can you confirm your identity and social security number? The trustee will ask this question to verify your identity. Be prepared to present a valid photo ID and proof of your social security number.

2. Have you read and understood all the documents you’ve filed? The trustee wants to ensure that you understand the seriousness of the bankruptcy process and the potential consequences.

3. Are all the information on your bankruptcy forms accurate and complete? The trustee will most likely ask you to confirm the accuracy of the information in your bankruptcy papers. This may include your assets, debts, income, and expenses.

4. Have you listed all your assets and debts? The trustee needs to verify if you’ve disclosed all your financial details. This is crucial as it helps determine how much you can pay to your creditors.

5. Can you afford your proposed payment plan? The trustee will review your proposed payment plan to ensure that it is reasonable and that you can keep up with the payments.

6. Have you previously filed for bankruptcy? If you have past bankruptcies, the trustee will want to know about them. This could affect your eligibility to file under Chapter 13.

Remember, the trustee’s questions are not meant to intimidate you. They are simply doing their job to protect the interests of your creditors. It’s essential to answer all questions honestly and to the best of your ability. If you’re unsure about how to answer, it’s always best to consult with an experienced bankruptcy attorney. A debtor should be thoroughly prepared before filing chapter 13 bankruptcy.

The Liviakis Law Firm is committed to helping individuals navigate the complex bankruptcy process. We understand that bankruptcy can be stressful and confusing, but you don’t have to go through it alone. Contact us at 916 459 2364 for a free consultation.