If you are getting ready to file for bankruptcy, you may have heard about needing to attend a 341 meeting. The name for this meeting comes from the bankruptcy code's section number that requires it, and it's an important part of the entire process. Here is what you need to know about the meeting before you go into it.

Prepare Yourself

You'll receive a letter with more information about what day the 341 meeting will take place on. Do some research on the location, so you are not frustrated on the day of your meeting. Figure out how you'll get there and where you can park since these meetings typically take place in federal buildings downtown.

You'll also need to gather proper identification, which includes a photo ID and social security identification card. Bring all your relevant bankruptcy paperwork along with you as well. If you have children, find someone that can watch over them for the day rather than take them with you.

Know How The Hearing Works

It is common that many cases are brought in to be heard at once with the same meeting time. You'll sit in a room with other people while you wait for your case to be called. This actually gives you an opportunity to hear other cases. Once you're called up, you will be officially sworn in and asked questions about your case before being dismissed.

You'll be asked several questions about your case, which vary between each person but are usually pretty similar. For instance, you'll be asked about if the information provided in your bankruptcy filing is true, if the signature on the paperwork is yours, if you've used bankruptcy in the past, and if your taxes have been filed for the previous tax year.

When working with a bankruptcy lawyer, know that they may not be waiting with you in the hearing room the entire time. It's very possible that they have other people they are meeting with at the same time for different purposes, but once you're called to answer your questions, your lawyer will be there.

Know That Creditors May Show Up

Your 341 meeting gives creditors the chance to challenge debts being included in your bankruptcy, and are given an opportunity to state their case at your meeting. They will need to give a valid reason for the debt to be excluded, such as proof that you incurred the debt knowing that you'll be filing for bankruptcy. Your lawyer will help you deal with any challenges that happen.

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