I just had my 341 meeting and thought I would post my experience...
The meeting was on "Zoom", and there were 10-12 debtors in attendance, plus a few attorneys representing them. My name was called second, and in summary, basically confirmed that I have read and understood the petition, listed all assets, and had no changes or amendments to make. The questions were all straightforward and I answered every one of them with a YES or a NO. 60 seconds... and I was dismissed. It's done.
I'm not sure if this is a new thing, but the trustee sent a two-page questionnaire to my attorney for me to complete and return, a week prior to the 341 meeting. So this gave me the list of questions I would be asked, and I could further prepare for the meeting. Very helpful.
Based on my observations... I think it is wise to hire an attorney. I say this because part of the attorney's paralegal duties include organizing all the information and ensuring completeness. Having ALL information complete and submitted on time is imperative. The couple who went first struggled with this. They did not include a few things in their petition, and a US Trustee was there and questioned them on details of these things, and asked for more information and verification of items in the petition. The attorney/trustee rescheduled a continuance for the couple to seek counsel and gather the requested information.
So again, I am a advocate of obtaining counsel, and cannot stress enough the importance of a complete and accurate petition. I can state for certain this is why my 341 meeting went so quickly. In the end... it was worth the $2,200 it cost me. So anyone reading this who is considering bankruptcy, please consider counsel. And of course include every bit of information as requested in the petition, and by the trustee, prior to the 341 meeting.
Now I wait... and with luck, in 60 days, this will be behind me and I can rebuild again - smarter, more diligently, and more responsibly. I am excited for my fresh start!
Big THANK YOU to all of you who have taken the time to post! I've been reading this forum for a couple years, and it's calmed many a nerve as well as educated me on this process. And... it's given me great hope. I am grateful to all!
- JC
The meeting was on "Zoom", and there were 10-12 debtors in attendance, plus a few attorneys representing them. My name was called second, and in summary, basically confirmed that I have read and understood the petition, listed all assets, and had no changes or amendments to make. The questions were all straightforward and I answered every one of them with a YES or a NO. 60 seconds... and I was dismissed. It's done.
I'm not sure if this is a new thing, but the trustee sent a two-page questionnaire to my attorney for me to complete and return, a week prior to the 341 meeting. So this gave me the list of questions I would be asked, and I could further prepare for the meeting. Very helpful.
Based on my observations... I think it is wise to hire an attorney. I say this because part of the attorney's paralegal duties include organizing all the information and ensuring completeness. Having ALL information complete and submitted on time is imperative. The couple who went first struggled with this. They did not include a few things in their petition, and a US Trustee was there and questioned them on details of these things, and asked for more information and verification of items in the petition. The attorney/trustee rescheduled a continuance for the couple to seek counsel and gather the requested information.
So again, I am a advocate of obtaining counsel, and cannot stress enough the importance of a complete and accurate petition. I can state for certain this is why my 341 meeting went so quickly. In the end... it was worth the $2,200 it cost me. So anyone reading this who is considering bankruptcy, please consider counsel. And of course include every bit of information as requested in the petition, and by the trustee, prior to the 341 meeting.
Now I wait... and with luck, in 60 days, this will be behind me and I can rebuild again - smarter, more diligently, and more responsibly. I am excited for my fresh start!
Big THANK YOU to all of you who have taken the time to post! I've been reading this forum for a couple years, and it's calmed many a nerve as well as educated me on this process. And... it's given me great hope. I am grateful to all!
- JC
Bankruptcy Wizard
He introduced himself, and said he had audited the couple's petition, and "had some questions"... I think everyone in the meeting was thinking what I was... Crap! I'm next!
That is so funny - if I get a surprise UST visit, I will be "having the big one" like Fred Sanford! That sounds terribly intimidating.
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