What Happens After the 341 Meeting of Creditors?
After filing for bankruptcy, the most important meeting you will have is with your creditors. The 341 Meeting of Creditors, also known as a Meeting of Debtor and Creditor or Section 341 Hearing, is a required court hearing that occurs approximately 30 to 45 days after bankruptcy has been filed. At this hearing, debtors must answer questions under oath in front of their creditors and the bankruptcy trustee. It’s an essential part of the process, but what happens after?
The 341 Meeting of Creditors marks the end of the beginning phase in any bankruptcy case. It’s a momentary pause where all parties present can take stock in what’s occurred up to that point and prepare for what lies ahead.
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