What is a meeting of creditors, or §341 meeting?
The debtor is required to attend a meeting of creditors. The meeting is not held in a courtroom. It is usually held in a meeting room in an office building or in a Federal building. The case trustee presides at the meeting—not the bankruptcy judge. The debtor’s attorney will usually ask the debtor some standard questions. The Trustee will verify the debtor’s identity and ask questions about assets and whether the paperwork requirements have been completed. Creditors are not required to attend the meeting of creditors, and many choose not to attend. In most cases, those in attendance will include only the presiding trustee, the debtor and the debtor’s attorney. If creditors are present, they are allowed to ask questions, as well.
