WHAT IS A CREDITORS MEETING IN A BANKRUPTCY?
Whenever a debtor files a petition for bankruptcy protection, they must
attend the first meeting of creditors, usually scheduled 30 days after
the filing. This meeting is also called the 341 meeting, which is a
reference to the bankruptcy code. Once the meeting starts, there are
certain requirements that take place. If there are discrepancies or
disputed claims, other meetings similar to a deposition could take
place. A creditors meeting is one of the initial steps that must
takeplace before a bankruptcy is completed.
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