The 341: Meeting of the Creditors
A San Francisco Bankruptcy attoorney describes the 341 meeting when filing a Chapter 7 bankruptcy...
When filing chapter 7 bankruptcy, most people only have to go to court once. This is for the 341 meeting of creditors. This meeting is short, and despite its name creditors generally do not attend. There is no judge present either. Rather, the meeting is presided over by a trustee, who is a court appointed official. The meeting is held primarily for the purpose of collecting and verifying information. It takes place 20-40 days after the date of filing.
The trustee can file a motion or an adversary in the bankruptcy court for the judge’s consideration if in the meeting any new information comes out that they feel needs to be addressed. If you have hired a bankruptcy attorney to handle your case, they will attend the 341 meeting with you. Before the meeting they will go over what will happen at the meeting and prepare you so you know what to say.
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