What is the meeting of creditors?
The debtor is required to attend a meeting of creditors, also known as a Section 341 meeting. The meeting typically is held about 1 month after the filing of the bankruptcy, and is conducted by the trustee rather than the bankruptcy judge. The debtor is put under oath, and the creditors have the right to ask the debtor about the debtor’s assets and liabilities. In most cases, the creditors do not bother to appear at the meeting of creditors, and the questioning is done by the trustee. In most instances, the meetings are quite brief, and often limited to the debtor simply confirming that the bankruptcy papers contain a true and accurate listing of all of his assets and debts. If complications arise, such as litigation with a creditor or the trustee, the debtor may have to attend a court hearing or additional examinations, and he will receive such notice from the court or his attorney.
Approximately six weeks after your Chapter 13 Plan and schedules are filed with the court, you will be required to attend the Meeting of Creditors . If the case is a joint filing by a wife and a husband, both debtors must attend. Your attorney will appear with you. The Meeting of Creditors gives your creditors and the Trustee an opportunity to talk to you about your finances and your Plan for repaying creditors. The Trustee will also ask about assets you own, and if you own a business, about the operation of your business. You will receive from the Bankruptcy Court a notice in the mail detailing the time and location of your Meeting of Creditors. This examination is recorded and conducted under oath and penalty of perjury. You are required to answer each question accurately, truthfully and to the best of your ability. Your failure to appear at this meeting may result in the dismissal of your case. If circumstances will prevent you from attending this meeting, contact your attorney imme
