Creditors’ Meetings Explained

After you file for bankruptcy, a meeting of creditors will be called. This is sometimes referred to as a 341 meeting. The purpose of this meeting is to verify the information contained within the bankruptcy petition and associated documents. It also gives the creditors the opportunity to ask you questions about your property, income, and debts. If you have secured debt, these creditors may ask you whether you plan on keeping this property.

You can watch this video to see a demonstration of a meeting of creditors. You’ll hear the trustee get pertinent information on record and you’ll learn more about the types of questions that a bankruptcy petitioner may be asked.

When you become a client of Cutler & Associates, Ltd., a lawyer at our bankruptcy law firm will carefully walk you through every step of the bankruptcy process-from filing the paperwork to discharging the debt.