What To Expect at Your 341 Meeting of Creditors

If you're facing bankruptcy, you're likely wondering what will happen at your 341 meeting of creditors. Here's what you can expect.

At your 341 meeting of creditors, also called a bankruptcy hearing, you'll meet with your bankruptcy trustee and any creditors who choose to attend. The meeting is typically brief and informal.

You'll be sworn in and asked to state your name and address for the record. The trustee will ask you questions about your bankruptcy petition and schedules, including questions about your income, expenses, debts, and assets.

Creditors may also ask questions. However, they usually don't because they know that they won't get paid if you file for bankruptcy.

After the meeting, the trustee will either approve or deny your bankruptcy petition.

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