341 Meeting of Creditors

After filing bankruptcy, one of the requirements is for the debtor to attend a Meeting of Creditors. The meeting usually takes place within 20 to 40 days after submitting your petition to the court and it provides an opportunity for the Trustee and creditors to ask questions about your bankruptcy filing and finances disclosed within your petition.

The purpose of this meeting is to ensure that the debtor properly filed all required documents and to make sure that no attempt of bankruptcy fraud is taking place, as well as addressing the debtor’s non-exempt assets, if any, which could be sold to repay the creditors.

If for some reason the debtor is unable to attend for a valid reason, the Trustee must be informed immediately to have it rescheduled.  In the event the debtor does not attend, the bankruptcy case will be dismissed.

Although it is called “Meeting of Creditors”, creditors rarely attend. The Trustee is appointed to represent the creditors’ interest and will be the one to be asking the questions regarding your finances and assets. Creditors are also given sixty (60) days to respond after the 341 Meeting of Creditors if they have any objections to obtaining a bankruptcy order of discharge.

Please feel free to contact the Law Office of Ray Garcia, P.A., at 305-227-4030 or via email at legal@raygarcialaw.com for a free consultation.