What is a 341(a) Meeting Of Creditors?
The meeting of creditors is a hearing all debtors must attend in any bankruptcy proceeding. It is held outside of the presence of the judge and usually occurs between 20 and 40 days after the filing of the petition. In chapter 7, 12, and 13 cases, the trustee assigned to the case conducts the meeting. In a chapter 11 case, a representative of the United States Trustee’s Office conducts the meeting. The meeting permits the trustee or the representative of the U.S. Trustee to review the debtor’s petition and schedules with the debtor. The debtor is required to answer questions under penalty of perjury (swearing or affirming to tell the truth) about the debtor’s conduct, property, liabilities, financial condition, and any other matter that may affect the administration of the case or the debtor’s right to discharge. In addition, the trustee or U.S. Trustee’s representative will ask questions to ensure that the debtor understands the bankruptcy process. The meeting is referred to as a meet
