What is a ‘341(a) Meeting of Creditors?’

Upon filing a bankruptcy petition, every case is assigned a Section 341(a) Meeting of Creditors as required by the Bankruptcy Code. This Meeting of Creditors is a procedural requirement for every case whereas an appointed trustee is able to ask the debtor specific questions about their bankruptcy petition, assets, creditors and income, and any creditors have the ability to ask questions about the debtor’s bankruptcy petition as well. While named Meeting of Creditors, this meeting is primarily for the appointed trustee to make sure that everything in the petition is clear and accurate. Creditors have the opportunity under Rule 2009 to request a deposition to further question, audit and examine the debtor and their petition.

Generally, the Trustee conducts the meeting of creditors. For the Meeting of Creditors individuals who file are required to bring the following (1) an original government issued identification card, (2) an original social security card and (3) copies of the last year which tax returns were filed. The general questions and procedure at the Section 341(a) Meeting of Creditors are as follows:

1. The meeting starts with swearing in the debtor(s)
2. State your name and current address
3. Is everything in your bankruptcy petition true and correct?
4. Are there any errors or omissions?
5. Have you filed for bankruptcy before?
6. Have you made any transfers of property or value $1,500 in the last 4 years?

The trustee can ask other questions and request other documents, but it is usually determined by a case by case basis and upon the discretion of the trustee. Should major issues be present in the case, debtors and their attorneys would receive notices from the US Trustee and at times, can be questioned by the US Trustee at the Meeting of Creditors.

Should additional requests be made or documents be missing or needed to be amended, the trustee will usually continue the Meeting of Creditors to a second date. Depending on their requests, whether an additional appearances is necessary is determined on a case by case basis. Otherwise, upon successful completion of a the Meeting of Creditors, most cases in a chapter 7 never require any court room hearing or appearance.

If a debtor missed the originally scheduled 341(a) Meeting of Creditors, the meeting is usually continued to a second date. However, should the debtor missed the continued date or any continued date of the hearing, the Trustee usually seeks to dismiss the case and the debtor will not receive the benefit of the discharge afforded to cases successfully completed.