What Happens at a 341 Meeting in Bankruptcy in Western Pennsylvania?
One of the most common questions I get from clients is: “What happens at the 341 meeting?”
The 341 meeting, also called the “meeting of creditors,” is a required step in every bankruptcy case. Despite the name, most creditors do not attend.
In Western Pennsylvania, these meetings are typically conducted by a bankruptcy trustee. The trustee’s role is to review your petition and verify your financial information.
The meeting is usually brief. Most last 5 to 10 minutes.
You will be placed under oath and asked straightforward questions such as:
• Did you review and sign your bankruptcy petition?
• Is the information in your petition accurate?
• Have you listed all of your assets and debts?
• Have you transferred any property recently?
It is not a courtroom. There is no judge present.
For most people, the 341 meeting is far less intimidating than they expected.
Preparation matters. When your paperwork is accurate and complete, the meeting is typically routine and uneventful.
If you live in Westmoreland, Fayette, or Butler County and have questions about the bankruptcy process, it is important to understand what to expect before filing.
Accurate information reduces unnecessary fear.