Your Meeting of Creditors….Don’t be Intimidated

mtg of creditors pic

When you file for bankruptcy protection, you are required to attend a meeting of creditors. This meeting is required by 11 USC §341, so it is also commonly referred to as the “341 meeting.” It is normal to feel nervous about attending this meeting. For guidance on what generally occurs at the 341 meeting, please read our blog titled “The “Meeting of Creditors” in Bankruptcy.”

The reality is that you should look forward to attending your meeting of creditors. Consider the following:

  • In a typical personal bankruptcy case, the 341 meeting does not last long. In fact, most debtors answer routine questions asked by the trustee assigned to the case that takes approximately 10 minutes. It may take longer for you to have your case called than it does for you to actually answer questions!
  • It is common for very few, if any, creditors to attend the 341 meeting. Even though the meeting is designed to allow the trustee and your creditors to ask you questions under oath, the more sophisticated creditors understand how their debt will be treated in your filing. Thus, they do not spend the time or money to attend the hearing. If you should have creditors attend, your attorney is there to assist you.
  • An experienced bankruptcy attorney has handled hundreds of meetings of creditors. Thus, he or she will likely have anticipated any issues that may arise. It is our practice to ensure that you are fully prepared for your 341 meeting and that you know what to expect in advance.
  • Most debtors only have to attend one meeting of creditors. Thus, once your 341 meeting is over, you probably do not have to go back to the courthouse for the remainder of your case. You can sit back and wait to receive your discharge order.

Most of our clients tell us that their meeting of creditors was “no big deal” or much easier than they had expected. Don’t waste time stressing over your 341 meeting and have the peace of mind that your bankruptcy lawyer will ensure that you are prepared.

If you have questions about filing for bankruptcy protection, we have the answers. Call us today to schedule your initial consultation. Our office is located in Melbourne, but we proudly serve individuals and businesses across the State of Florida.


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