What happens at a creditors, or 341, meeting?
• A: The debtor must attend the creditors’ meeting conducted by the trustee appointed to their case. The debtor must answer questions concerning: • How the situation evolved • Any actions taken with the property • Debts listed in the petition or any other financial information requested by the trustee Failure answer truthfully can result in the petition being dismissed or, in extreme cases, a charge of perjury. Creditors may attend and question you about the assets or any other matter relevant to the bankruptcy. A creditor doesn’t waive any rights by not attending the creditors’ meeting.
