Sunday, June 28, 2015

Bankruptcy Creditors' Meeting

In a chapter 7 or 13 bankruptcy case, a "creditors' meeting" (or "341 meeting") is held within about two months after the bankruptcy case is filed. Although called a "creditors' meeting," in most cases no creditors take the opportunity to attend.

A chapter 7 creditors' meeting is usually presided over by the chapter 7 trustee and a chapter 13 creditors' meeting by the standing chapter 13 trustee. The debtor is required to attend to creditors' meeting unless there are special circumstances to excuse attendance.

At the creditors' meeting the person who filed for bankruptcy - the debtor - is placed under oath and the case and bankruptcy schedules that were file are reviewed.