(also known as the Section 341(a) Meeting or First Meeting of Creditors) This is an opportunity for the Trustee and the creditors to question the debtor, with the debtor's attorney present, about assets, statements made by the debtor in the bankruptcy schedules, etc. All questions are answered under oath.
The debtor must appear at a meeting with the trustee to be examined under oath about assets and liabilities. Creditors are invited but seldom attend. The meeting is sometimes called the 341 meeting, after the section of the Bankruptcy Code that requires it. More about "going to court".
A meeting the debtor must attend that gives creditors a chance to question the debtor. Despite its name, creditors rarely attend these meetings and meetings usually last less than five minutes. Generally, the only people who attend creditor meetings are those who have filed bankruptcy, their attorney, and the bankruptcy trustee. Also referred to as the first meeting of creditors, creditor's meeting, or a 341 meeting.
A meeting held with the bankruptcy trustee about a month after you file for bankruptcy. You must attend. The trustee reviews your bankruptcy papers and asks a few questions. In a Chapter 7, the meeting of creditors lasts a few minutes and rarely do any creditors show up. In a Chapter 13 bankruptcy, one or two creditors may attend, especially if they disagree with some provision of your repayment plan.
