What to Expect in a Chapter 7 Bankruptcy 341 Hearing in St. Paul, Minnesota

    After a debtor has completed the bankruptcy schedules and a Chapter 7 bankruptcy has been filed with the court, a debtor must attend a 341 hearing, also known as a meeting of creditors. Several days after the bankruptcy case is filed, a debtor will receive a notice of the 341 hearing. The notice will indicate the date, time and method by which the meeting will occur. Currently, in the state of Minnesota, 341 hearings are conducted virtually, either by telephone or by Zoom. A 341 hearing is also called “meeting of creditors,” however, creditors rarely attend. A debtor’s assigned bankruptcy trustee will conduct the 341 hearing.

The debtor’s attendance at the 341 hearing is mandatory. The purpose of a 341 hearing is to verify that all of the information contained in the petition and schedules filed with the court is accurate. At the 341 hearing, the trustee will verify that the information in all the legal documents are true, accurate, and complete. The 341 hearing lasts approximately 10-15 minutes. At the hearing, the Chapter 7 trustee calls the name and number for a given case, administers an oath to the debtor, and the debtor testifies under penalty of perjury. The debtor’s bankruptcy attorney will verify that the debtor’s forms of identification match their identity. The trustee then proceeds with questioning the debtor at the hearing. The trustee’s questions consist of standard questions, as well as any additional questions that the trustee deems is necessary to the administration of the Chapter 7 bankruptcy estate. Debtors are required to answer questions asked by the trustee as part of their obligation to cooperate with the trustee. 11 U.S.C. § 521(a)(3).

Sometimes, the trustee may want to “continue” a debtor’s 341 hearing to a later date. This may happen if the trustee needs to review additional documents. If a trustee deems that a continued hearing is necessary, the debtor is still required to appear and testify at the continued hearing. 11 U.S.C. §343. In preparation for a 341 hearing, debtors are required to provide the trustee specific documents in connection to their Chapter 7 case. These such documents include, a most recently filed tax return and bank account statements that cover the date the Chapter 7 was filed.

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For more details on how to best prepare for a 341 hearing or meeting of creditors, you should consult with an experienced bankruptcy attorney. Come visit us at our new location in St. Paul or at our website at LifeBackLaw.com!