SAMPLE QUESTIONS THE CREDITORS MAY ASK AT YOUR 341 MEETING OF CREDITORS

The creditors then have a chance to enter their appearance and question you.

Usually Sears, Wards. Lowe’s, Helzberg Diamonds and Best Buy will have someone at the hearing. The local banks and lending institutions may have someone appear. The creditors will ask you these types of typical questions.

Creditor: Do you still have the ________? (Usually this is a collateralized item which you purchased on a charge account or account or you financed through a loan such as TV’s VCR’S, appliances, stereos, CD players, jewelry, microwaves, etc.)

Creditor: If you no longer have the collateral in your possession, where is it located?

Creditor: Do you intend on keeping the item and reaffirming on it or surrendering it?

Creditor: Do you still have insurance coverage on the house/mobile home/car/truck?

Creditor: You took a cash advance on______, 2004__, on your_____credit card, what did you use the money for? What kind of income were you making at that time? What was your occupation? Did you intend on paying the cash advance money back? (Note: these questions are usually just asked of those who took huge cash advances within the last year or so prior to filing bankruptcy and not usually asked on normally charged items.