341 Meeting
The “341 meeting” or the “creditor’s meeting” is a statutorily required meeting held within 20-40 days after the debtor files for Chapter 7 Bankruptcy. The debtor is required to attend this meeting along with the court appointed bankruptcy trustee and as many of the creditors as wish to attend. This meeting is intended to give the creditors and the trustee a chance to ask any questions they may have. In reality, few creditors attend or ask any questions.
It is highly recommended that a debtor retain a bankruptcy lawyer to help them prepare for the 341 Meeting if they don’t wish or cannot afford to retain a lawyer to represent them during the entire proceeding.
the Creditor’s Meeting is not designed to harass the debtor but to confront with all the issues that may crop up in the case subsequently in front of the Bankruptcy judge.Additional Resources
- Chapter 7 Vs Chapter 13
- Recent Changes to Bankruptcy Law
- How to File Bankruptcy
- Bankruptcy Filing Fees
- The Automatic Stay
- The 341-Meeting
Bankruptcy Laws overview | Faqs on Bankruptcy | Bankruptcy Terms
