One of your obligations after filing for bankruptcy will be to attend the 341 meeting, which some people call “the meeting of creditors.” This may sound a bit ominous, but there will be no problem as long as you are well prepared and know what to expect.
About the meeting
The 341 meeting is actually a hearing held outside court. No judge will be present. If you have filed Chapter 7, 12 or 13, the trustee assigned to your case from the Office of the United States Trustee will take charge of the hearing. If you have filed Chapter 11, you continue to possess the assets of the bankruptcy and a representative of the Office of the U.S. Trustee will lead the meeting if a trustee is not yet appointed to your case.
Who may attend
At the 341 meeting, your debtors may meet with you face-to-face and ask questions regarding the disposition of your assets and any related matters. However, although your debtors know of the meeting and know they may attend, they rarely do, knowing they will not waive their rights by choosing not to appear. You, on the other hand, must attend the meeting. If you fail to do so, you risk having your bankruptcy case dismissed. The trustee will ask you questions to become better acquainted with the facts of the case, and you must answer under penalty of perjury.
Bring your ID
You should bring two items to the 341 meeting: proof of your Social Security number and a photo ID such as your passport or driver’s license. Your attorney, who will accompany you to the hearing, will take care of providing any necessary documents to the trustee. These may include your tax returns, bank statements, property deeds and similar items. The meeting, scheduled between 21 and 40 days after the date you file your bankruptcy petition, is usually short. Do not worry about it. Look at the 341 meeting as another step on the path to financial freedom.