What is the 341 meeting of creditors?
About 30 – 35 days after filing you attend what is known as the 341 Meeting, commonly known as the Meeting of Creditors. This is a meeting of your creditors and its name refers to section 341 of the U.S. Bankruptcy Code. Your attendance is required. Creditors rarely show up for this meeting. It will be you, your attorney, and the U.S. Trustee. The Trustee is the person who administers or handles your bankruptcy matter. He/she actually represents the creditors and their job is to find any property you have that is not protected by a federal or state exemption, and take that property so it may be sold and distributed to your creditors. You’re going to see other people at this meeting also. They are more than likely not your creditors, but instead other debtors and their lawyers. A creditor may be there for your case, but not usually. This is probably because there is little the creditors can do to hurt you in bankruptcy if you have honestly filed your schedules and have very little in th
