What is a 341 Meeting (a.k.a. "Meeting of The Creditors")?
In a Chapter 7 case, in order to obtain Bankruptcy relief, you are required to attend a meeting called a "341 Meeting," also called a "Meeting of the Creditors," which is conducted by the U.S. Trustee's Office. The purpose of the meeting is for the Trustee, the official who is assigned to oversee the Bankruptcy case, to: (1) verify that the information included in your Bankruptcy petition is true and correct, (2) determine whether any assets in your Bankruptcy estate are subject to liquidation for the benefit of the creditors, (3) provide a forum for creditors to inquire into the propriety of your request for Bankruptcy relief, and (4) make relevant inquiries to verify that you are entitled to Bankruptcy relief.
Although the idea of attending such a meeting may seem daunting, most debtors find that the meeting is relatively painless. At the Law Office of Timothy Brown, we take all necessary steps to insure that the 341 Meeting goes smoothly. To this end, we make sure that the Bankruptcy petition is prepared properly; we address concerns, if any, that are raised by the Trustee; we submit all necessary documentation in support of the Bankruptcy petition; and, most importantly, we prepare our clients for the 341 Meeting---so there are no surprises.