Bankruptcy trustees follow a fairly standard set of questions at the 341 meeting. While the exact wording varies by trustee and district, the topics are consistent. Knowing what to expect removes the fear of the unknown.
Below are the actual questions trustees commonly ask, organized by category. Your attorney should review these with you before the meeting.
Opening and Identity Questions
Every meeting starts the same way. The trustee needs to verify who you are and that you understand the process.
"Please state your full name and current address for the record."
"I need to see your government-issued photo ID and proof of Social Security number."
"Do you understand that you are testifying under oath and that the penalty for false testimony is perjury?"
"Did you read your bankruptcy petition and schedules before you signed them?"
"Is all the information in your petition true and correct to the best of your knowledge?"
Income and Employment
The trustee needs to understand your financial situation. These questions verify what is listed in your schedules.
"Are you currently employed? Where do you work and what is your position?"
"What is your current monthly income?"
"Does anyone else contribute to household expenses?"
"Do you have any other sources of income - rental income, side work, government benefits, child support?"
"Have your income or expenses changed since you filed your petition?"
Assets and Property
The trustee is looking for assets that may not be listed or may be undervalued. In Chapter 7, this determines whether there is anything to distribute to creditors.
"Do you own any real estate, either alone or with someone else?"
"Do you own any vehicles? What are the year, make, and model?"
"Do you have any bank accounts? What are the current balances?"
"Do you own any stocks, bonds, retirement accounts, or investment accounts?"
"Do you have any valuable jewelry, art, collections, or other personal property worth more than a few hundred dollars?"
"Are you expecting any tax refunds?"
"Is anyone holding money or property for you?"
"Do you have any pending lawsuits or insurance claims?"
Transfers and Payments
These questions detect potential preference payments (paying one creditor ahead of others) or fraudulent transfers (giving away property to avoid creditors).
"Have you transferred any property to anyone in the last two years?"
"Have you paid more than $600 to any single creditor in the 90 days before filing?"
"Have you given any money or property to family members in the past year?"
"Have you sold any property below its fair market value recently?"
Debts and Obligations
The trustee verifies your debt picture matches what is in your schedules.
"Are all of your debts listed in your schedules?"
"Do you owe any taxes?"
"Do you owe any domestic support obligations - child support or alimony?"
"Are there any debts you want to continue paying, such as a mortgage or car loan?"
"Can you afford the proposed monthly plan payment?"
"Are your listed monthly expenses accurate and current?"
"Have you filed all required tax returns?"
Closing Questions
"Is there anything you would like to add or correct?"
"Do any creditors present have questions for the debtor?"
Tips for Answering
Keep answers short. "Yes," "No," and brief explanations are best. Do not volunteer extra information.
Be honest. You are under oath. If you do not know the answer, say "I don't know" - do not guess.
Let your attorney help. If you are confused by a question, look at your attorney. They can ask for clarification or rephrase.
Do not argue. The trustee is not your adversary. Even if a question feels pointed, answer calmly.
Correct mistakes. If you realize something in your petition is wrong, say so. Honest corrections are far better than getting caught in an inaccuracy later.
Not legal advice. This site provides general information about the Section 341 meeting of creditors in bankruptcy. It is not a substitute for advice from a licensed attorney. Every case is different. If you have questions about your specific situation, consult with a qualified bankruptcy attorney in your jurisdiction.