A 341 meeting of creditors, or 341 meeting is a meeting with a bankruptcy debtor, the debtor's bankruptcy attorney, and the bankruptcy trustee, where the Debtor testifies under oath of the authenticity of the information in the debtor's bankruyptcy petition. Creditors may attend the meeting and examine the debtor(s) if they chose to. It is rare that a creditor would attend the 341 meeting. In a chapter 11 bankruptcy case, creditor attendance happens often. The 341 meeting is required in every bankruptcy case, and debtors must be truthful. Failure to be honest could result in perjury.
The 341 meeting is usually very straight forward and is nothing to worry about. But sometimes it is not, depending on the bankruptcy case. If you have questions about the 341 meeting, contact us or contact another bankruptcy attorney in Tempe, or Phoenix.
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