Section 341 Meeting

The bankruptcy trustee will review the documents that you filed describing your finances including your assets income debts and expenses as well as your proposed repayment plan.

Section 341 meeting. The trustee will check identification and ask a series of questions about the bankruptcy paperwork. At the meeting of creditors also called the 341 hearing the debtor meets with the trustee appointed to oversee the case. The meeting is referred to as a meeting of creditors because creditors are notified that they may attend and ask the debtor questions pertaining to assets or any other matter pertinent to the administration of the case.

The purpose of the meeting is to allow the bankruptcy trustee appointed to the case to. Creditors can attend and ask about financial matters as well although few appear. This meeting which is required by section 341 of the bankruptcy code is also known as a 341 meeting the meeting of creditors is scheduled by the clerk of the bankruptcy court shortly after a bankruptcy case is filed together with other important dates deadlines and events.

It is also referred to as a 341 meeting because it is mandated by section 341 of the bankruptcy code. In chapter 7 12 and 13 cases the trustee assigned by the united states trustee conducts the hearing. This meeting is a very important step to getting your debts discharged.

Section 341 c of the senate amendment is deleted and a contrary provision is added indicating that the bankruptcy judge will not preside at or attend the first meeting of creditors or equity security holders but a discharge hearing for all individuals will be held at which the judge will preside. This meeting is called the 341 meeting based on the section of the bankruptcy code where it is discussed. The section 341 meeting under chapter 13 bears many similarities to the meeting under chapter 7.

The meeting is held outside the presence of the judge. After you file for bankruptcy you ll be required to verify your identity and the contents of the petition at the 341 meeting of creditors. 341 meeting is brief and fairly informal and usually boils down to answering some standard straightforward questions posed by the bankruptcy trustee.

A 341 meeting which takes place about a month after an individual files for bankruptcy gets its name from section 341 of the bankruptcy code. If you file a bankruptcy petition you will normally be required to attend one court meeting called 341 meeting of creditors. It s sometimes also referred to as the meeting of creditors or the creditors meeting.