The 341 Meeting of Creditors is an essential step in the bankruptcy process that requires all debtors who file for bankruptcy to attend. To help you understand this meeting better, here are some key points to keep in mind:
The 341 Meeting of Creditors is named after Section 341 of the Bankruptcy Code, which mandates debtors to attend and provide sworn testimony. During this meeting, the trustee and creditors can ask the debtor about their financial affairs and bankruptcy petition.
The meeting is typically scheduled between 20-40 days after filing the bankruptcy petition. I want you to know that failure to attend this meeting may result in the dismissal of the bankruptcy case. Therefore, debtors should ensure they attend and are fully prepared.
The meeting is usually attended by the debtor, their bankruptcy attorney, and the trustee assigned to the case. Although it’s a public event, it’s rare for creditors to attend. In case any creditors participate in the meeting, they may ask the debtor questions.
Debtors must come prepared to answer questions truthfully. They should bring all necessary documents, including their bankruptcy petition and supporting schedules, as well as their photo identification and social security card.
The West Palm Beach Division of the bankruptcy court has jurisdiction over bankruptcy cases filed in Palm Beach, Martin, St. Lucie, Indian River, Okeechobee, Highlands, and Glades County, Florida. The meeting is at the Flagler Waterview Building, located at 1515 North Flagler Drive, Suite 801, West Palm Beach, FL 33401.
Currently, due to the COVID-19 pandemic, the meeting is held telephonically. Here are some additional details to keep in mind:
The meeting is actually actually conducted telephonically until further court directive. Debtors must be fully prepared to answer questions under oath. Failure to attend the meeting may lead to the dismissal of the bankruptcy case. Please ensure your phone is on mute until your name is called during the telephone meeting.
If you’re filing for bankruptcy in the West Palm beach area, it’s essential to have an experienced bankruptcy attorney to guide you through the process. West Palm Beach bankruptcy attorney Robert Stiberman has extensive experience helping clients navigate the bankruptcy process and can provide the guidance you need. By being prepared and honest during the meeting, debtors can help ensure that the bankruptcy process proceeds smoothly and efficiently.
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