What is the 341 Creditors’ meeting?
Under the bankruptcy code, the debtor is required to appear to attest to the veracity of the paperwork filed with the court system. The meeting is referred to as the “341 creditor meeting” because Section 341 of the Code is the provision in the Code requiring the meeting.
At this meeting you will bring a government issued ID along with your most recent paystub, if applicable.
The trustee will swear you in like you are giving testimony. Then, they trustee will ask you if you have read the bankruptcy information sheet, if you read over your paperwork and whether you listed all your debts and assets. If the trustee desires, they may ask for additional documentation on virtually any topic.
The trustee will give the floor to any creditors that want to ask you questions. Often, this is a great time for certain creditors to ask questions about any property you are surrendering in your bankruptcy. They may ask you whether the property is in good or poor condition and where the property is located.
Also, this is a good time to meet the creditor that you may be reaffirming a debt with and have the necessary documents signed and executed.
If you have questions about the 341 creditor meeting or any other bankruptcy questions be sure to call Matt Wadsworth at Arnold & Wadsworth. He practices law in the Ogden and Salt Lake City area and performed hundreds of bankruptcies. He also has represented many debtors in adversary proceedings. Call today for a free consultation.