The 341 Meeting of Creditors: It’s Not What You Think

You’ve probably heard the term “341 meeting of creditors” countless times while researching online about filing for bankruptcy. Let’s clear up the confusion. This isn’t the dramatic courtroom showdown you see on TV. If you’re old school, it was L.A. Law. Remember Arnie Becker? In reality, what happens at the creditor’s meeting is different than your typical court hearing. So, let’s review the main points of the YouTube video.

First, there’s no judge or jury. The bankruptcy trustee conducts the meeting, and it’s usually a low-key affair. And while it’s titled the 341 Meeting of Creditors, Bigfoot sightings are more common than creditors appearing. For those of you in the Florida Everglades, it’s Skunk Ape, or my favorite, the Chupacabra for those of you in Miami. I won’t get into the Mothman of West Virginia, but you get my point.

Being Prepared for the 341 Meeting of Creditors

The bankruptcy trustee will ask you a few basic questions about your bankruptcy filing. Most hearings last less than five minutes. The meeting is typically held remotely, whether you dial in by phone or video conferencing with Zoom. Either way, be early to listen in on the basic questions asked to other debtors. That will also give you a feeling of what to expect and will calm your nerves.

While it’s normal to be nervous, don’t stress the creditor’s meeting. When the hearing is over, most of my clients ask, “Is that it?”

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Make sure to take your driver’s license and original Social Security card. This will save you time and money, as you’ll avoid a second hearing, which your lawyer will charge additional fees for. If the hearing is done remotely, your lawyer will provide your driver’s license and Social Security card in advance to the bankruptcy trustee.

Remember, the 341 meeting is a routine part of the process. It’s not adversarial, and the trustee is there to do a job, not to cause you distress. The overwhelming majority of trustees are nice, calm, and sympathetic. Relax, breathe, and focus on getting through it. This is your next step to a fresh start as you walk down the path of financial freedom.

I hope you enjoy the video and it helps you better understand the bankruptcy process. Feel free to visit my YouTube Channel and subscribe so you don’t miss any videos.

Colleges and universities can purchase my bankruptcy law textbook directly from Routledge Publishing. For paralegals and students buying single copies, you can do so via Amazon Books. To access my YouTube channel, click this link.

Additional blog content is available below:

• Bankruptcy
• Your Wallet

Please note that the information on this site does not constitute legal advice and should be considered for informational purposes only.

Updated March 27, 2025.