About the Meeting of Creditors in Bankruptcy

Hire a Jacksonville Bankruptcy Lawyer for Your 341 Hearing

As bankruptcy attorneys, we understand the level of discomfort that most individuals feel when it comes to discussing their financial difficulties. Even in the confidential environment of our office, it's not uncommon for some of our clients to experience trepidation when talking about the reasons that brought them in. That's why the 341 hearing, or "meeting of creditors," can be intimidating to bankruptcy petitioners.

Fortunately, you don’t have to face this alone. When you work with Owenby Law, P.A., we can guide you through all stages of the bankruptcy process, including your 341 hearing. Whether you are filing for Chapter 7 or Chapter 13 bankruptcy, you can count on our knowledgeable bankruptcy lawyers to handle all aspects of your case. Contact our firm today to take the first step toward a debt-free future.

Complimentary consultations can be requested online or by calling us at (904) 770-3141!

What Is the Purpose of a 341 Hearing or Meeting of Creditors?

When you file for Chapter 7 or Chapter 13 bankruptcy, the court will assign a bankruptcy trustee to oversee the process. One of his or her first orders of business will be to call the 341 meeting. At this meeting, your creditors and lenders, their lawyers, and your trustee will be able to ask you questions about your financial situation. You will be under oath for the process, but your bankruptcy attorney will be able to attend as well.

Many of our clients—particularly the ones who have had a rough time with collectors—are often afraid that the 341 hearing will degenerate into an adversarial interrogation. This is not the case. The purpose of the 341 hearing is for your creditors and the trustee to gather information. Our Jacksonville bankruptcy attorneys know how to protect our clients' rights during 341 hearings. You will not be intimidated or harassed.

Typical Questions Asked at 341 Hearings

At Owenby Law, P.A., we attend all of our clients' 341 hearings to ensure that their legal rights are protected. As our client, you can also feel peace of mind in knowing that you will be well-prepared by our attorneys for the questions you will be asked at your meeting of creditors. Because the objective is to learn more about your personal finances, the questions asked during 341 hearings are generally geared in that direction.

Some common questions asked by creditors and trustees at these meetings are:

  • Have you listed all of your assets and liabilities in your documents?
  • Does your spouse have any assets that aren't listed?
  • Is all of the information that you have provided true?
  • Is this your first time filing for bankruptcy?
  • Why have you decided to file for bankruptcy?
  • Have you repaid any relatives or close friends in the last year?
  • Do you or have you ever owned a business?
  • Do you owe child support, alimony or domestic support?
  • Does anyone else hold property that belongs to you?

Discuss Your Case with Our Jacksonville Bankruptcy Attorneys

If you are intending to declare bankruptcy under Chapter 7 or Chapter 13, a meeting of creditors is inevitable. Why not utilize the services of Florida's premier bankruptcy lawyers? Owenby Law, P.A. proudly serves clients throughout the Jacksonville area, including Clay, Duval, St. Johns and Nassau Counties. We offer comprehensive legal services for all bankruptcy-related matters, including 341 hearings, so don’t wait to contact our firm.

For high-quality legal representation, contact the team at Owenby Law, P.A. without delay.