TOMS RIVER, NJ – Individuals filing for bankruptcy in New Jersey must attend a mandatory 341 meeting of creditors, a brief interview with the bankruptcy trustee that typically occurs within weeks of filing. New Jersey bankruptcy attorney Daniel Straffi Jr. of Straffi & Straffi Attorneys at Law (https://www.straffilaw.com/what-happens-at-a-341-meeting-of-creditors/) guides clients throughout Ocean County through this critical step in the bankruptcy process.
According to New Jersey bankruptcy attorney Daniel Straffi Jr., the 341 meeting takes its name from Section 341 of the United States Bankruptcy Code and serves multiple purposes. The trustee verifies the debtor’s identity, examines bankruptcy paperwork for accuracy, and provides creditors an opportunity to ask questions. “The meeting is not held in a courtroom, and no judge is present,” explains Straffi.
New Jersey bankruptcy attorney Daniel Straffi Jr. emphasizes that debtors must answer questions under oath during the meeting. Most 341 meetings last between five and ten minutes for straightforward cases and are conducted virtually via Zoom for cases noticed on or after September 1, 2023. The trustee asks standard questions to verify identity and case-specific questions about assets, debts, and financial history.
Attorney Straffi notes that proper preparation is essential for a successful meeting. Debtors must send specific documents to the trustee at least seven days before the meeting date, including tax returns, pay stubs, and bank statements. “You need to be familiar with the information in your bankruptcy petition,” he adds. “If you notice any errors or omissions, tell your attorney immediately.”
The firm prepares clients by reviewing bankruptcy petitions and practicing answers to likely trustee questions. Straffi advises providing brief, direct answers during the meeting without volunteering extra information beyond what the questions ask. Required identification includes government-issued photo identification and proof of Social Security number.
Creditors have the right to attend 341 meetings, but rarely appear, especially in Chapter 7 cases. The trustee controls the meeting and can limit creditor questioning that becomes unreasonable. Throughout Ocean County and New Jersey, Straffi & Straffi Attorneys at Law handles cases in the United States Bankruptcy Court for the District of New Jersey.
“Early preparation and understanding the process help ensure your meeting goes smoothly,” states Straffi. After a successful 341 meeting in Chapter 7 cases, debtors typically receive their discharge in 60 to 90 days. In Chapter 13 cases, debtors proceed to a confirmation hearing where the judge approves their repayment plan.
For individuals facing financial difficulties and considering bankruptcy, consulting with an experienced attorney can provide guidance through each stage of the process, from filing to discharge.
About Straffi & Straffi Attorneys at Law:
Straffi & Straffi Attorneys at Law is a Toms River-based law firm dedicated to representing individuals and businesses in bankruptcy matters. Led by attorney Daniel Straffi Jr., who has over 20 years of legal experience and serves as Co-Chair of the Bankruptcy Panel for the Ocean County Bar Association, the firm handles Chapter 7, Chapter 11, and Chapter 13 bankruptcy cases throughout Ocean County, Monmouth County, and Central and Southern New Jersey. For consultations, call (732) 341-3800.
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Company Name: Straffi & Straffi Attorneys at Law
Contact Person: Daniel Straffi, Jr.
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Phone: (732) 341-3800
Address:670 Commons Way
City: Toms River
State: New Jersey 08755
Country: United States
Website: https://www.straffilaw.com/