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The Meeting of Creditors, sometimes called the 341 Meeting after the section of the bankruptcy code that describes it, is a meeting held with your bankruptcy trustee and your creditors around six weeks from the date when your bankruptcy attorney filed your bankruptcy petition.
Approximately 15 days after your Chapter 7 bankruptcy filing, the court will mail a Notice of Commencement of Case to you and to all creditors listed in your petition, which includes the date and time of the creditors’ meeting and deadlines for creditors to make objections or file claims.
You must attend the meeting and you will be asked to testify under oath to the accuracy of the information you have provided.
The Meeting of Creditors is Important ~ Your Chapter 7 Bankruptcy Case Could Be Thrown Out if You Don’t Go
Creditors may question you at this meeting, but most choose not to attend.
At least seven days before the meeting, you must provide the trustee (and any creditor who has requested it) a copy of your most recently filed tax return.
Creditors have 30 days after your Meeting of Creditors to object to your exemption claims and they have 60 days after the meeting in which to object to discharge of specific debts for specific statutory reasons.
Questions about the Meeting of Creditors?
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The above summary is not legal advice. Chapter 7 bankruptcy laws may have changed since our last update. For the latest information on bankruptcy laws, speak to a local Chapter 7 bankruptcy lawyer in your state.