Everyone who files a bankruptcy, whether Chapter 7, 11, 12 or 13, must make an appearance at a “Meeting of Creditors” or what is also called a “341 Meeting.” This is where the bankruptcy trustee, who is appointed to your case to oversee it, will ask you questions about the paperwork you filed and questions about your situation. There is not a judge at the meeting of creditors. You will be under oath, but your attorney will be there to help you and guide you through the process.
Many people are intimidated by the Meeting of Creditors, but the meeting itself is really quite simple. It is not an inquisition, it is a chance for the trustee to make sure you are familiar with the information contained within your bankruptcy schedules and to clear up any questions he or she may have. Creditors typically only ask about any applicable collateral on secured loans, if they show up at all.
Most Meetings of Creditors are conducted quickly and in a conference room with several other people who have filed bankruptcy. You do not have to be embarrassed or nervous about the meeting because you will be with other people who have filed bankruptcy and your attorney.