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What is a 341 meeting with creditors?

Filing the petition for a chapter 7 bankruptcy in Fort Lauderdale, Florida, may be the beginning of your journey to financial relief, but it is actually only the first step in a process. According to the U.S. Bankruptcy Court, Southern District of Florida, another component of your bankruptcy is attendance at a meeting with your bankruptcy trustee and creditors.

You should know that it is difficult to get the meeting with your creditors rescheduled. So, when you file your bankruptcy petition, it is essential that you are ready to attend the date you are given. Keep in mind that the meeting will be scheduled anywhere from 21 to 50 days after you file. If it may be difficult to make it to the meeting, you may want to delay filing until you can be available.

If you have filed jointly with your spouse, you must both attend the meeting. Once there, the trustee will have questions for you regarding your debts. A judge will not be present at this meeting. Creditors are not required to show up, but they may, and if they are present you must answer their questions, as well. The answers that you provide about your assets, income and liabilities are under oath, so you must be completely honest.

Personal identification that you must bring with you to the meeting includes an item such as a social security card or check stub verifying your social security number. A copy of either of these will not be accepted. You must also have valid picture identification such as a driver’s license or green card. This information is provided to help you understand what to expect at the 341 meeting. However, it should not be interpreted as legal advice.

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