What is a meeting of creditors?

After a person files for bankruptcy, he or she is notified in mail of the date of meeting of creditors (a "341 meeting," so named after the section of the bankruptcy code). This meeting allows the bankruptcy trustee, who is the person in charge of the bankruptcy case, to ensure that the petitioner has provided truthful answers on the bankruptcy petition. Prior to the meeting, the petitioner’s attorney reviews all pertinent information to make sure that it is complete. These meetings are pro forma and normally last about ten minutes.