The 341 Bankruptcy Meeting
During a bankruptcy proceeding, the debtor is often required to attend a “341 Meeting” or the first meeting with the creditors. At this time, creditors are allowed to meet with the debtor to discuss the specifics of the bankruptcy filing and verify information included in the petition. This meeting typically takes place 20 to 40 days following the filing of the bankruptcy petition.
Although the 341 meeting may sound ominous, it is typically a low-key affair. Although creditors are invited to come to the meeting, they may choose not to show up since it does not affect their eligibility for repayment. The meeting usually involves an appointed bankruptcy trustee and verification of information regarding the bankruptcy. If you are considering filing for bankruptcy, consult the experienced Boston bankruptcy lawyers of Joshua Spirn & Associates at 1-800-975-5346.
341 Meeting Requirements
Creditors’ meetings may require:
- Statements regarding the personal situation, debts, assets, and an oath of truth on the part of the debtor.
- Statements of actions taken on the property
- Verification of Social Security number and legal documents
- Review of the petition for bankruptcy
- Verification of income and assets
- Any other financial information requested by the trustee
It is important to remember that the creditors’ meeting is not meant to be an inquisition. It is simply a “fact-finding” meeting to verify basics of the petition and gather routine information that applies to the proceedings.
Contact Us
If you or someone you love is considering filing for bankruptcy, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 1-800-975-5346 to discuss your legal options.
