Meeting of Creditors

The Meeting of Creditors, also known as the 341 meeting, is a key event in bankruptcy proceedings. It is a formal gathering where the debtor meets with creditors and a bankruptcy trustee. During this meeting, the trustee asks the debtor questions about their financial situation and assets to verify the information in their bankruptcy filing. Creditors can also ask questions, but they usually do not attend. This meeting helps ensure transparency and allows creditors to understand the debtor’s circumstances before the bankruptcy case moves forward. It's typically held about a month after the bankruptcy petition is filed.