When you file for bankruptcy you will be required to do a few things. Once your petition has been filed you will be given notification of your meeting of creditors, also called the 341 meeting of creditors. Don’t worry, it’s not as scary as it sounds.
The meeting of creditors is a chance for you to meet with the bankruptcy trustee and any creditors that choose to attend. While you will be examined under oath, the process isn’t meant to be a punishment for you. It is simply a meeting to go over your financial situation in a bit more detail and give you a chance to answer any questions that may come up. In many cases, creditors don’t even show up and you are reviewing the information with your trustee.
It is important that you are always open and honest with your answers. If you have nothing to hide, there is nothing to fear in your meeting of creditors. You won’t be subject to ridicule or criticism, just a series of questions that ultimately lend in your favor when your case is successful. If you find you cannot attend your scheduled 341 meeting be sure to let your Dayton bankruptcy lawyer know right away. Failure to attend this meeting without notification could jeopardize your getting a discharge.