What Happens at 341 Creditors Meeting?
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When you file bankruptcy, the bankruptcy court will schedule a 341 meeting of your creditors. Your creditors do not have to attend, they can just file an objection after receiving notice of your 341 meeting. You do have to attend the 341 meeting in order for the bankruptcy trustee to ask you any questions they have or get clarification on your bankruptcy forms.
The 341 meeting is usually held at the local bankruptcy court, but it is not in front of a bankruptcy judge, only a bankruptcy trustee. If issues arise and a hearing needs to be scheduled to rule on an issue, then you will attend a hearing with the bankruptcy judge. During the initial 341 meeting the bankruptcy trustee will ask you questions such as:
Have you listed all of your debts?
Have you listed all of your assets?
Are you hiding any property?
Do you owe any child support or back taxes?
Why are you filing bankruptcy?
Who helped you complete your forms?
Do you need to add anything to the bankruptcy petition?
Did you read everything before you signed the petition?
If any of your creditors appear they may also ask you questions about the debt they represent. After the 341 meeting of the creditors, each of your creditors has 60 days to file an objection with the court. If no objections are filed and the trustee was satisfied with your petition and your answers during the 341 meeting then your bankruptcy discharge will be granted. If a creditor does submit an objection after the 341 meeting your discharge could be delayed until a ruling is made on the claim.
