Do I Need to Attend a 341 Meeting of Creditors?
Part of every bankruptcy proceeding is something known as the 341(a) Meeting of Creditors, or sometimes known more simply as the “341 meeting.” If you did not know that this was going to be one of the components of your bankruptcy case, or if you filed on your own without legal assistance, the importance of attending this meeting may not be clear. You may be wondering if this is something you need to attend at all, or if this meeting can occur without your presence. In short, even though the 341(a) Meeting of Creditors is named under the US Bankruptcy Code for the creditors — and not the debtor in the bankruptcy case — it is something that debtors must attend. Our West Palm Beach bankruptcy attorneys can explain in more detail, and we can answer any other questions you have about the bankruptcy process today.
What is the 341 Meeting?
To understand why it is so important for the debtor to attend the 341 meeting, it is necessary for any debtor to learn more about what this meeting is and how it will work. Under US bankruptcy law, the meeting of creditors is a hearing that will be scheduled at a date following the filing of the bankruptcy petition. Typically, the 341 meeting will be held somewhere between 20 and 50 days following the debtor’s bankruptcy filing, and the scheduled debt will depend on factors including the type of bankruptcy. The 341 meeting will either be conducted by the trustee (in Chapter 7 and Chapter 13 cases) or by a United States Trustee representative (in Chapter 11 cases).
This meeting provides the time and place for the trustee or representative to ask questions or clarifying information of the debtor. The debtor must answer truthfully under penalty of perjury. Creditors may also attend this hearing and ask questions, although creditors often do not attend themselves.
What Will Happen If I Do Not Attend?
If there is a legitimate reason that you cannot attend your 341 meeting, you may be able to have the trustee reschedule. A legitimate reason does not include a routine appointment or work scheduling issue.
If you ultimately do not attend, your bankruptcy case can be dismissed, and you will need to refile if you want to reorganize debts or be eligible to have debt discharged.
Contact Our West Palm Beach Bankruptcy Lawyers for Assistance
For any debtor with questions about any step in the bankruptcy process, including the 341 meeting of creditors, it is important to talk with an experienced West Palm Beach bankruptcy attorney at Kelley, Kaplan & Eller as soon as possible. As we have discussed above, the 341 meeting is a critical component of a bankruptcy case, and you will need to attend. If you already filed for bankruptcy on your own without a lawyer’s help and have missed the 341 meeting, you should seek legal advice quickly about your options. Our firm can assist you with all questions concerning bankruptcy in South Florida. Contact us today to find out more about how we can help.
Source:
law.cornell.edu/uscode/text/11
