What to expect in a Chapter 7 Creditors Meeting

In our video we explain what to expect in a Chapter 7 creditors meeting and walk you through what the meeting will be like between you, the trustee, and the creditors.


Every debtor must attend a meeting called the Meeting of Creditors, or a 341 Creditors Meeting. It's a requirement for anyone that has while bankruptcy, and unfortunately, the attendance is mandatory. If you happen to miss your first meeting, it could be rescheduled. However, if you miss your second meeting, you run the risk of your case being dismissed.

If for any reason you fail to appear at your meetings, give us a call immediately so that we can review your options.

Before Your Meeting

Before you ever go into the 341 room, you meet with one of our paralegals to go over what you can expect. She will give you a copy of the file documents as well as return your pay stubs, tax returns, and any other documents you may have given us.

Finally, she will review the potential that the trustee may ask in your case. You will always have an attorney there at the meeting, although he is unable to answer those questions for you. In the meeting, you speak for your yourself. He is there to assist or object if the trustee or creditor gets out of line or address any issues that may arise.

If you are required to provide documents to the trustee, or the trustee wants something changed, don't stress out. We work for you to resolve any issues that the trustee may have.

At the Meeting

Seated at the table, you will see the trustee. The trustee, who is usually an attorney, conducts these hearings, not a judge.

The trustee will first give a short speech to inform you of the procedures and get your photo ID and Social Security card. He or she will remind you that these proceedings are being recorded and that you need to speak loudly and clearly. Then, you just sit and wait for your name to be called.

Let's listen for a few minutes and see just how it's done.

Mock Creditor Meeting for Chapter 7

Trustee: Ladies and gentleman, today is your meeting of creditors. Today is September 10, 2009. When I call your case, come up to the front table with your attorney. Please make sure you have out, proof of your identification, Social Security proof, and driver's license.

Also, we are tape recording your answers, and your answers need to be out loud and verbal, so we can get your answers on our tape recorder.

First case we'll call is case of Sherry Maples. Please come up to the table with your attorney and provide your identification.

Raise your right hand. Do you solemnly swear to tell the whole truth and nothing but the truth, so help you God?

Bankruptcy client: Yes.

Trustee: Alright. I've reviewed your identification and Social Security proof and I'll return that back to you. State your full name for the record.

Bankruptcy client: Sherry Lyn Maples.

Trustee: Your current address?

Bankruptcy client: 800 Market Street, Knoxville 37902.

Trustee: And have you filed a bankruptcy petition prior to this case?

Bankruptcy client: No.

Trustee: And in the 2 years prior to your filing, have you transferred, sold, or given any property away to anyone?

Bankruptcy client: No.

Trustee: And did you list all of your properties and all of your debts in the bankruptcy schedule that you filed?

Bankruptcy client: Yes I did.

Trustee: And have you paid any creditors more than $600 in the last 3 months prior to filing your case?

Bankruptcy client: Only my mortgage and car.

Trustee: No other debts?

Bankruptcy client: No other debts.

Trustee: And you listed a house and a car in your schedules. Are you interested in keeping your home?

Bankruptcy client: Yes.

Trustee: How did you arrive at the value of your home in your schedules?

Bankruptcy client: That's how much the other houses in my area are going for.

Trustee: You have full coverage insurance on your home?

Bankruptcy client: Yes I do.

Trustee: You've also listed a vehicle that you want to keep and pay for that vehicle as well? You have full coverage insurance on your vehicle?

Bankruptcy client: Yes I do.

Trustee: Does anyone owe you money or do you have any claims you can file against anyone in this case?

Bankruptcy client: No.

Trustee: Did you read your petitions and schedules before signed them?

Bankruptcy client: Yes I did.

Trustee: Are all the statements true and accurate?

Bankruptcy client: Do you have any domestic support obligations, child support or alimony?

Trustee: No.

Bankruptcy client: Alright and did you receive a copy of the bankruptcy information sheet, is that correct?

Trustee: That's correct.

Bankruptcy client: And you understand if you inherit money or property within six months of filing, that may be an asset you will report to me?

Trustee: Yes.

Bankruptcy client: Alright, any creditors present?

Creditor: Yes sir. Hi, I'm Ronda Pitt from Pitt Automotive, and do you have insurance on that car? I think you said you did? Can I see the proof please?

Bankruptcy client: Yes (hands over cards)

Trustee: Any other questions. Okay, Ms. Pitt? Alright, any other parties present? Counsel, any other questions?

Attorney: We're good.

Trustee: Alright, thank you.

After the Meeting

Each meeting only takes about 5 or 6 minutes and everyone is civil. Makes you wonder what you were so nervous about right? If this case had required additional amendments, your paralegal would have met with you once more to discuss what needed to be changed and told you to make an appointment to accomplish that.

Thank you for watching our production and hope you've gained more information to help you through this process. Hopefully, it's a smooth one.