The 341 creditor's meeting is a short meeting with your creditors that takes place usually 30 days after filing your bankruptcy petition.
What is the purpose of the meeting??
The purpose of this meeting is for the trustee to verify that you honestly represented your income, assets, and debts in your bankruptcy case.
Who must attend?
You, the debtor, must attend. If you have an attorney (which you should), then your attorney will attend the meeting with you. Although creditors will have notice of the meeting, they are not required to attend.
What happens at the meeting?
Because a 341 creditor's meeting is a fact-finding meeting, the trustee will ask you questions under oath about your assets and liabilities such as:
- Your name, address and social security number
- If your bankruptcy petition is correct
- How you valued the property listed in your petition
- If there have been any significant changes in your situation since your filing date
If your creditors are at the meeting, they will have an opportunity to ask you questions as well.