Remote 341A Meeting of Creditors Information

What Is a 341A Meeting of Creditors?

According to the United States Bankruptcy Court in the Northern District of California, “the meeting of creditors is a hearing all debtors must attend in any bankruptcy proceeding.” There is no bankruptcy court judge at this meeting. These meetings usually occur around 21 to 50 days after the debtor files their bankruptcy petition. Depending on the bankruptcy chapter, the person conducting the meeting may differ.

In Chapter 7, 12, and 13 filings, the trustee who is assigned to the bankruptcy case will conduct the meeting. In Chapter 11 filings, however, a representative of the United States trustee will conduct the meeting. During the meeting, either the United States trustee or their representative will review the debtor’s schedules and bankruptcy petition. They will ask questions of the debtor, who must answer under penalty of perjury. This means that they must tell the truth or be found guilty of perjury.

The questions will concern topics and information such as liabilities, properties, financial situation, the debtor’s conduct, and any other matters that may affect their ability to receive a bankruptcy discharge. Also, the person conducting the meeting will likely ask the debtor questions about the bankruptcy process to ensure they fully understand it.

What Is the Purpose of a 341 Meeting?

One of the main purposes of the 341 meeting is to formally meet with the trustee presiding over your case. You will also meet with any of your creditors who attend the meeting, although most do not. We understand that you may feel nervous about this meeting, but it is more of a formality than anything. It serves to establish the facts of your case, as well as outline your assets, liabilities, properties, debts, creditors, and more.

Do I Have to Attend a 341 Meeting?

Although the meeting is referred to as a meeting of creditors, they are not required to attend. Rather, the creditors are notified that they can attend the meeting. If they choose to attend, they may ask the debtor questions about their assets or anything else related to the bankruptcy case. The numbers 341 refer to the section of the bankruptcy code that mandates it.

Even if creditors choose not to attend this meeting, they do not lose or waive any rights in the process. In fact, these meetings usually last around 10 or 15 minutes. The trustee or the trustee’s representative may extend the length of the meeting if they need more information.

While the creditors are not required to attend the 341 meetings, the debtor must attend. They must also provide any and all information requested. If a debtor does not attend, the trustee or the trustee’s representative can request that the bankruptcy case be dismissed. In cases where spouses are filing bankruptcy jointly, they both must appear at the 341 meetings.

Many of these meetings are now held remotely via video conferencing software. If yours is one of these remote meetings, we have included instructions on how to participate.

What Happens at a 341 Meeting of Creditors?

Approximately a month after you file for bankruptcy, you will attend the 341 meetings. If your meeting is in person, you will most likely attend in the conference room of a federal building. The meeting will not be held in a courtroom, and your bankruptcy judge will not attend. Your trustee will have already reviewed all documents and forms relevant to your case. They will ask you to verify your identity with a photo ID and proof of your social security number.

You will then take an oath under penalty of perjury that you will answer all questions truthfully. Then, your trustee will begin asking you questions regarding general and specific information about your bankruptcy case.

What Can Creditors Ask at a 341 Meeting?

If a creditor does decide to attend the meeting, they usually have one of a few reasons for it. Maybe they are a secured creditor who wants to confirm whether you intend to repay the debt or return the credit item, such as a car. Alternatively, they may suspect that you are hiding assets. Regardless of why your creditors may attend, they can ask you questions about the following information.

• Your current job and income
• Whether your income has changed since you took on the debt
• If you have transferred assets or given property to family or friends
• Whether you provided accurate information on your credit applications
• If you ever intended to pay off your debts
• If there are any differences between the information you listed on your credit application versus your actual financial situation

Even if you aren’t proud of some of your answers, it is incredibly important that you answer honestly. Any contradictions or discrepancies can be used against you by your creditors.

What Happens After a 341 Meeting?

After your 341 meeting, you will wait approximately 60 to 90 days for your bankruptcy discharge. Once the deadline to object to your discharge has passed, you can expect to see your discharge notice soon after. We recommend that you begin and complete your required financial management course immediately after your creditor meeting if you have not already done so.

Contact an Orange County Bankruptcy Attorney with Marshack Hays Wood

At Marshack Hays Wood, we have considerable experience representing clients on both sides of bankruptcy cases. In this way, we understand the process of bankruptcy both inside and out. We are uniquely qualified to handle your bankruptcy case from start to finish, and we will ensure that the process goes as smoothly as possible. For more information on how we can help you, please contact our office to schedule a consultation. Call today at 949-333-7777 or fill out our online intake form.