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  1. Bankruptcy Glossary
  2. Creditors Meeting

What is a Creditors Meeting?

The creditor's meeting or the 341 Meeting is a meeting of the creditors which generally occurs 25 to 40 days after the Bankruptcy Petition is filed. Attendees for the 341 meeting generally include the filer's attorney, the filer, the Bankruptcy Trustee and any creditor who wishes to attend.

Filers are required to attend the 341 Meeting, but creditors are allowed to file claims and object to discharges without attending the meeting. Creditors most likely to attend the meeting may include those who think they have been defrauded or who want to challenge discharges. Creditors may be given time at the 341 meeting to ask questions or may ask the court to require the filer to answer additional questions through a deposition.

The trustee can also ask questions in the 341 Meeting about the information documented on the schedules, the bankruptcy petition and the statement of financial affairs. Debtors must answer the questions truthfully under penalty of perjury. The questions asked and the meeting procedures can vary by district. The 341 Meeting is considered a fact finding meeting only for the creditors and the trustee. If issues arise from the 341 Meeting motions can be filed or Adversary Proceedings can be requested, and the bankruptcy judge can give the issues more consideration.