Written by attorney Samantha Lynn Dammer

What to expect at a 341 Meeting of Creditors

If you’ve never filed a business or personal Chapter 7 bankruptcy, you’ve missed out on the pleasure of attending a “341 Meeting of Creditors.” The purpose of this article is to explain the purpose of this important meeting, how to prepare for it, and what could go wrong.

Additional resources provided by the author

Needless to say, that last one is worst-case scenario and a good debtor’s attorney will know how to deal with these matters. But usually, the meeting is quick and painless. The trustees are all very polite and professional…and they do not “judge” the debtor for filing a bankruptcy. Two months after the 341 Meeting, the debtor will usually get his discharge and move forward from the temporary financial setback. Hopefully, this information de-mystifies the bankruptcy process for the average reader.

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