The Meeting of Creditors: The Chapter 7 Bankruptcy Process

The Meeting of Creditors: The Chapter 7 Bankruptcy Process

July 3, 2020 0 By Alan Wenokur

The Meeting of Creditors is part 6 of a 10 part series on Chapter 7 bankruptcy and will provide general information regarding bankruptcy under Chapter 7. 

The meeting of creditors, required by § 341(a) of the Code, is also known as a “341 meeting.” All debtors are required to attend, and cannot get a discharge without attending. Counsel should note the date and time of the meeting of creditors, and send a letter to the client confirming the hearing date.

The hearing is presided over by the Chapter 7 trustee. It is an opportunity for the trustee and for any creditors who appear (an unusual occurrence) to question the debtor under oath regarding assets, liabilities, prospects for payment, etc. The hearing is digitally recorded.

When the case is called, the debtor is sworn in, and will then be asked a series of questions by the trustee. These questions not only confirm the accuracy of the documents filed with the court, but also seek to determine if there are any nonexempt assets or other issues relevant to estate administration. About ten or so cases are set on every calendar. The debtor is required to present both a photo ID and proof of his or her full social security number.

In a typical no-asset consumer Chapter 7, the meeting of creditors is the debtor’s first and last contact with the Bankruptcy Court.

Contact the bankruptcy attorneys at Wenokur Riordan PLLC today at (206) 724-0846 to discuss your situation.

This article is intended to provide you with enough detail to give you a good basic understanding of the process, without snowing you under with too much information. Obviously, there are exceptions and nuances to just about everything described in this outline. The Bankruptcy Code, Federal Rules of Bankruptcy Procedure, and reported case law are the primary sources of information. All section references here are to the United States Bankruptcy Code, 11 U.S.C. § 101 et seq. All Rule references are to the Federal Rules of Bankruptcy Procedure.