The 341 Hearing with a Tucson Bankruptcy Attorney
If you file for protection with a Tucson Bankruptcy Attorney then you must attend a 341 hearing, which is also known as a meeting of creditors. This hearing serves many purposes including giving your creditors an opportunity to question you about your financial affairs. However, it is very rare that any creditors actually appear at this hearing. So what actually happens at this meeting? Well, the first thing is verifying your identity by looking at your driver’s license/state id card and your social security card. An acceptable substitute for your social security card is a document that was produced by someone other than yourself that shows your full social security number, for example a W-2, or a letter from the social security office. The hearing will not proceed without these two forms of identification. Once that is complete you will be sworn in and the trustee will ask a set of questions about your financial situation. Here is an example of a transcript from a typical hearing:
Trustee: “Please state your name for the record.”
You: “John J. Smith.”
Spouse: “Linda P. Smith.”
Trustee: “Mr. Smith, do you swear or affirm to tell the truth at this hearing?”
You: “Yes.”
Trustee: “Mrs. Smith, do you swear or affirm to tell the truth at this hearing?”
Spouse: “Yes.”
Trustee: “Who would like to answer questions?”
You: “I will.”
Trustee: “Mrs. Smith please listen carefully because after Mr. Smith is finished answering my questions I will ask you if your answers would be the same as his. Mr. Smith, please state your name for the record.
You: “John J. Smith.”
Trustee: “Is your address the same as when you filed this bankruptcy?”
You: “Yes.”
Trustee: “What is your daytime telephone number?”
You: “(520) 555-1212”
Trustee: “Did you reside in Arizona for two continuous years prior to filing this bankruptcy?”
You: “Yes.” (if not then you will be asked when you relocated to Arizona and from where.)
Trustee: “Have you ever filed bankruptcy before?”
You: “No.” (if you have you will be asked when, in which state, what chapter, and the final disposition of the case.)
Trustee: “Did you meet with your attorney prior to filing?”
You: “Yes.”
Trustee: “Did you discuss the differences between the various chapters of bankruptcy?”
You: “Yes.”
Trustee: “Did you disclose all your assets and liabilities to your attorney?”
You: “Yes.”
Trustee: “Did you discuss your entire financial situation with your attorney?”
You: “Yes.”
Trustee: “Did you review the documents prior to signing them?”
You: “Yes.”
Trustee: “Is the information continued in your documents true and correct to the best of your knowledge?”
You: “Yes.”
Trustee: “Are there any errors that need to be corrected?”
You: “No.”
Trustee: Has anyone died that will be leaving you an inheritance?”
You: “No.” (If yes then you will be asked to give particulars)
Trustee: “Do you have the right to file a lawsuit against any party for any reason that you are aware of?”
You: “No.” (If yes then you will be asked to give particulars)
Trustee: “Have you made any balance transfers on credit cards in the last year?”
You: “No.”
Trustee: “Mrs. Smith, if I asked you the same questions that I just asked Mr. Smith would your answers be the same?”
Spouse: “Yes.” (If not then inform the trustee of the answers that would be different.)
If she deems necessary the trustee may ask questions regarding anything related to your financial situation. You should answer the question with a concise, direct answer. The trustee will not want to hear the story leading up to the answer of her question. If you don’t know the answer, then say so. If you do not understand the question then say so.
