Every bankruptcy filer must attend a "341 meeting" — also called the Meeting of Creditors. Here's exactly what happens, how long it takes, and what to expect.
After your bankruptcy petition is filed — under either Chapter 7 or Chapter 13 — you must attend a meeting of your creditors. This is called the "341 meeting" after the section of the bankruptcy code that requires it: 11 U.S.C. § 341.
The meeting is usually scheduled about 20 to 40 days after you file for bankruptcy.
Neither the trustee nor the creditors can take any action at the meeting that decides any central question of your case. It's strictly a fact-finding meeting.
You don't have to justify filing for bankruptcy. No rights are won or lost at the 341 meeting.
Of course, if new or troubling facts come out at the meeting, the trustee or a creditor can file a motion or adversary proceeding for the judge's consideration later. But most meetings are uneventful.
Despite its name, creditors rarely appear at these meetings. It's much more common that only the trustee, you, and possibly other debtors are present.
Important: the failure of a creditor to attend does not affect their right to challenge the discharge (in Chapter 7) or object to the payment plan (in Chapter 13). But in practice, few creditors take that step.
There is no judge at the 341 meeting. The trustee runs it. The setting is informal and not adversarial at all.
Most 341 meetings last about 3 to 4 minutes. It's not unusual for a trustee to hear 20 to 30 cases in a single hour.
You'll be asked to take an oath to tell the truth. You'll state your name and current address for the record. The meeting is tape recorded, so speak clearly when answering questions.
You may ask the trustee any questions you want at any time during the meeting.
In addition to your name and address, expect the trustee to:
Confirm your social security number on the record.
Make sure you reviewed the petition and schedules before signing.
Ensure the documents were in fact signed by you personally.
Ask about the property you own and the people you owe money to.
Confirm the income and assets you listed are accurate.
Ask if anything significant has changed since you filed.
If any creditors are present, they'll have a chance to ask you questions as well — but again, this is rare.
You must bring:
You'll typically receive a list of required documents before your meeting. If you're not sure what to bring, call us and we'll help you get organized.
We are a document preparation service. We do not attend the 341 meeting with you, do not represent you in court, and do not give legal advice.
What we can do:
If you need legal advice about your 341 meeting or your case in general, consult a licensed attorney.
Call us. We'll help you get prepared.