What is the “Meeting of Creditors?”
The Meeting of Creditors, also known as a §341 meeting, is a required step in every bankruptcy case. It typically takes place 21 to 50 days after your case is filed and is held without a judge present. Since the COVID-19 pandemic, these meetings have been conducted via Zoom and will continue to be held remotely for the foreseeable future. Even though it’s online, you must still dress appropriately, as it is a formal court proceeding.
In Chapter 7, 12, and 13 cases, the meeting is conducted by a bankruptcy trustee. In Chapter 11 cases, it’s led by a U.S. Trustee representative. During the meeting, the trustee will review your bankruptcy paperwork and ask you questions under oath to confirm the accuracy of your information and ensure you understand your obligations.
Common questions include:
- What caused you to file for bankruptcy?
- Have you listed all of your assets and liabilities?
- Are there any changes you wish to make to your schedules?
- Did you review and sign a complete copy of your petition?
- Are you familiar with the information in your schedules?
- Have any creditors contacted you since filing?
While creditors can attend and ask questions, they usually don’t. The meeting itself typically lasts 10 to 15 minutes, though it may be continued if more information is needed.
Documents You Must Provide in Advance of the Meeting
At least 7 days before your scheduled meeting, you are required to send the trustee a set of documents, including but not limited to:
- Bank statements (usually covering the 90 days before filing)
- Paycheck stubs for the last 60 days
- Titles or registrations for motor vehicles, boats, or other vessels
- A copy of your photo ID and Social Security card
- Your last two years of filed tax returns
- Deeds to any real estate you own
- Payoff statements for car loans or mortgages
- Copies of any retirement account statements
These documents help the trustee verify your financial situation and confirm the accuracy of what you submitted with your bankruptcy petition.
Attendance is mandatory. If you don’t appear or fail to provide the necessary documents, your case could be dismissed. In joint cases, both spouses must attend the meeting.
Take the first step toward clarity and control. Contact The Law Office of Christopher G. Frey, Esq. today and let our experienced legal team support you through your adversary proceeding.
The information provided on this page is for informational purposes only and does not constitute legal advice or create an attorney-client relationship. Please contact a licensed bankruptcy attorney to determine your bankruptcy options.