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Jacksonville Bankrupcy Lawyer: What is a "Creditors" or "341" Meeting?

The 341 Meeting is one of the first hearings that happens in a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. The 341 Meeting is a meeting with the judge and trustee where you will be asked a series of questions pertaining to your Jacksonville Bankruptcy petition. You must attend the 341 Meeting. If someone told you that you need not attend, they are probably misinformed.

This is an important part of all Jacksonville Bankruptcy proceedings and it is very important that you attend this meeting. At the 341 meeting, you’ll answer several questions. The questions may differ slightly, but generally the court will ask you to explain how your debt situation evolved, what actions you’ve taken with your property, and the status of other financial information. You must answer these questions truthfully if you want your bankruptcy petition to be successful.

With a Bankruptcy in Jacksonville, The 341 meeting takes place at the federal courthouse and can be intimidating if you do not know what to expect. You may want to get to the courthouse early in order to watch some other 341 hearings before yours; this will let you become comfortable with the environment and the questions that you might be asked. Not all 341 proceedings are the same (each debtor has different creditors who may or may not attend); however, if you feel uncomfortable, you have the right to a Bankruptcy Lawyer at your 341 hearing.

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