CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Why the Meeting of Creditors is the Scariest Part of Bankruptcy

Meeting Of Creditors Tampa, St Petersburg, And Pasco Florida.Filing for bankruptcy is a scary experience, but within the entire process from start to finish, the 341 Meeting of Creditors is perhaps the most daunting. The idea of coming face to face with people who are trying to collect on a debt is understandably intimidating.

How can you make the 341 Meeting of Creditors a little less frightening?

Everyone Goes through It

Something that might bring the most comfort is knowing you aren’t the first person to be in your position.

Every single person who files for bankruptcy must go through the Meeting of Creditors, and chances are most of them are as nervous as you. Understanding you aren’t the first, or the last, person to go through this doesn’t change your situation, but it can help to know others have survived it.

The good news is your attorney will be at your side throughout the meeting and in most cases, people report the experience is far less unpleasant than they predicted.

It’s All Business

If you’re like most people, you have fairly vivid expectations of what to expect during the Meeting of Creditors. In most cases, whatever you’re imagining is going to be worse than what actually happens.

The Meeting of Creditors is a business meeting. It isn’t an opportunity for your creditors to intimidate you, make you feel bad, or scold you. As a matter of fact, most of the people involved in the meeting have no personal interest whatsoever. Everyone acts professionally and if someone chooses not to, there are others there who will bring the focus of the meeting back to its primary focus – to determine if your debts are eligible for discharge.

The 341 Meeting is not a test or an inquisition. No official action can be taken against you at the meeting. It’s just an opportunity for everyone to discuss the situation and for the trustee to separate fact from fiction. In many cases, your actual creditors won’t even attend the meeting.

Unless any of your creditors intend to dispute the discharge of your debt, chances are the meeting will be only you, your attorney, and the bankruptcy trustee.

As long as you’ve been honest from the beginning of the process and you’ve provided your bankruptcy attorney with all of the information that’s been requested of you, chances are the meeting will go smoothly and everything will be fine.

Questions to Expect at the 341 Meeting of Creditors

Knowing what to expect in advance can help to put you at ease for our upcoming 341 Meeting.

Your attorney can review what to expect, but in general, you’ll probably be asked:

  • Have you read the bankruptcy schedules?
  • Have you listed all of your assets and debts accurately?
  • Are there any corrections that need to be made to the bankruptcy schedules?
  • Are any of your debts related to domestic support?
  • Are you currently using your credit cards?

To view more questions and see the basic script followed by trustees at the Meeting of Creditors, view
this document from the Justice Department.

The trustee wants to ensure the information he or she already has is accurate and determine if there has been anything left out that’s pertinent to your case.

It’s an opportunity to collect information and aside from that, there’s really no reason to worry about your 341 Meeting.

For more information or to discuss what you can expect at your meeting, contact the Law Office of Robert M. Geller at 813.254.5696 for more information.

Archive

Tampa Bankruptcy Law Blog

Should You Pay Back What You Owe Loved Ones Before You File for Bankruptcy?

Florida Bankruptcy Laws It’s common for people who are struggling financially to turn to their friends and family for help....
Read More

Bankruptcy and Family Law: Does Filing Affect the Child Support I Pay or Receive?

Bankruptcy and Family Law If you’re like many people, the well-being of your children is your most important priority. Struggling...
Read More

5 Tips for Overcoming the Emotional Toll of Bankruptcy

Florida Bankruptcy Attorney Getting through the bankruptcy process is about more than just improving your finances. Working with a Florida...
Read More

Bankruptcy and Divorce: The Far-from-Perfect Storm

Bankruptcy and Family Law Bankruptcy and divorce separately are two of the most stressful events you can experience in your...
Read More

Does the Pandemic Have You in a Holding Pattern? Here’s How to Know When to File for COVID Bankruptcy

COVID Bankruptcy If you’re struggling to make ends meet and you feel as if your life is on hold because...
Read More

Will Your Favorite Retailer File for Business Bankruptcy in 2021?

Business Bankruptcy 2020 was a tumultuous year and many of the financial challenges caused by the pandemic are expected to...
Read More

Boosted and Extended Benefits Keeping Unemployed Afloat – But For How Long?

Unemployment Benefits Were you one of the millions of people who ended up out of a job and using unemployment...
Read More

Should Bankruptcy Laws Be Adjusted Because of COVID-19?

Bankruptcy Laws The COVID-19 pandemic brought a lot of changes throughout 2020 and many are expected to continue into 2021...
Read More

Will 2021 Bring Student Loan Forgiveness and Will It Mean a Decrease in Student Loan Debt-Related Bankruptcies?

Student Loan Debt Are you one of the millions of Americans who struggle to make ends meet every month due...
Read More

Business Bankruptcy Trends Ahead for 2021

Business Bankruptcy Trends It should come as no surprise to anyone following the economic impacts of the COVID-19 pandemic that...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions