What is a meeting of creditors (§341 meeting)? What can I expect to happen there?

A meeting of creditors is required by Section 341 of the Bankruptcy code and the debtor is required to attend. The purpose of the meeting is to enable the appointed trustee to examine the debtor under oath regarding the information that has been filed with the Court.

Debtors have a duty to appear and testify under oath and to be questioned by the trustee at the meeting. This meeting is presided over by the trustee assigned to the case and is held approximately 20 - 40 days after a petition is filed. Individual debtors must bring a picture identification and proof of social security number to the meeting of creditors for presentation to the trustee assigned to the case. Failure to appear may result in dismissal of the case.

The trustee or a creditor may inquire about the debtor’s financial status, conduct and financial affairs, and any other matters that are relevant to the administration of the debtor’s estate, including factors which bear on an individual debtor’s right to a discharge, the dischargeability of any particular obligation, or the debtor’s claimed exemptions.