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What is a Section 341 Meeting or Meeting of Creditors? Alaska

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  • What is a Section 341 Meeting or Meeting of Creditors? Alaska

    The section 341 meeting, also called the meeting of creditors or creditor's meeting, is a meeting that a debtor is required to attend after filing bankruptcy. The meeting is conducted by the case trustee or the U.S. Trustee. The debtor must appear at this meeting and testify, under oath, about his financial condition, assets and debts. The debtor will be asked about the information he has placed on his bankruptcy paperwork. Creditors may also attend this meeting and question the debtor, although the meeting is directed by the trustee assigned to the case and most of the questions originate with him. If a debtor fails to attend the meeting, his bankruptcy case can be dismissed.
    For debtors located in the Anchorage area, the creditor's meeting is held 20 to 40 days after the petition is filed. For debtors living outside Anchorage, the meeting is held 20 to 60 days after the petition is filed. After a bankruptcy petition is filed, the debtor will receive notice by mail of the date and time of the creditor's meeting, as well as notice of what items should be brought for review by the trustee at the meeting (such as proof of identification, bank statements, tax returns, etc.).
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