What is my meeting of creditors?

A meeting of creditors, also known as a 341 meeting, is a meeting that occurs in every bankruptcy case and permits questions to be asked of the debtor(s). Despite its name, creditors generally do not attend a meeting of creditors. Instead, the bankruptcy trustee or his or her representative will be the primary individual asking questions. Your debtor's attorney attends the meeting with you. At Fabricius & Fabricius PLLC, our standard practice is the that same attorney who assisted you pre-filing will accompany you at the meeting.

Many questions at the 341 meeting are in the nature of verifying what you have stated in your bankruptcy petition and schedules. Sometimes, additional explanation or clarification may be requested. Debtors should be honest and concise in their answers.

Occasionally, creditors or their attorneys will attend the meeting. In some cases, they are merely observing to look out for their interests, and may ask few if any questions. The most common creditor to attend is an individual person to whom the debtor owes money. If you as a debtor have an openly hostile relationship with an individual creditor, such as ex-spouse, be sure to let your attorney know so as to be best prepared for the meeting.

The bankruptcy judge does not attend or preside over the 341 meeting of creditors. Nevertheless, the questioning is under oath and a record is maintained of the proceedings.