What is the meeting of creditors?

The ‘meeting of creditors’ is held in every Bankruptcy case. The debtor is required to attend this meeting and this is usually the only meeting or hearing that the debtor is required to attend. It is important that the debtor attends the meeting of creditors because if he or she fails to appear, the trustee or representative of the United States Trustee’s Office may request that the Bankruptcy Court dismiss the case.

In a Chapter 7 case, this meeting will represent the first chance for creditors to question the debtor about his debts, income, and assets. The creditors may seek to discover any hidden assets, fraudulent transfers, grounds to file a lawsuit to challenge whether a debt is dischargeable, or grounds for objecting to the discharge of the debtor. In a Chapter 13 case, the trustee may also ask questions about the reorganization place for the payment of the debts.