The meeting of creditors is a hearing you must attend during a bankruptcy proceeding. It is called a “meeting of creditors” because creditors are notified that they may attend and ask you questions pertaining to assets or any matter pertinent to the administration of your case. It may also be referred to as a “341 meeting” because it is mandated by Section 341 of the Bankruptcy Code. Your creditors are not required to attend these meetings. They do not waive any rights if they do not attend. The meeting usually lasts about ten to fifteen minutes. It may be continued if the trustee or US trustee’s representative is not satisfied with the information presented. The meeting of creditors usually occurs between twenty and forty days after you file a petition. The judge will not be present for this hearing. In Chapter 7, Chapter 12, and Chapter13 bankruptcy cases, the trustee assigned to the case runs the meeting. In a Chapter 11 case, a representative of the US trustee’s office conducts the meeting.

The meeting gives the trustee or the representative of the US trustee the opportunity to review your petition and schedules with you present. You will be required to answer questions about your conduct, property, liabilities, financial condition, and any other matter that may affect the administration of your case or your right to discharge. You must swear or affirm to tell the truth during the meeting under penalty of perjury. The trustee or US trustee’s representative will ask questions to ensure that you understand the bankruptcy process.

If you fail to appear and provide the information requested, the trustee or US trustee’s representative may request that the case be dismissed, or may seek other relief against you. If you are filing jointly with your spouse, both of you must appear at the meeting of creditors.

If you live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, or Golden, Colorado, please feel free to contact me with any questions.

Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, Colorado Bankruptcy Help Email, personal bankruptcy free-consultation form.