Credit Card Glossary: Terms and Definitions
A 341 meeting is an important gateway event in bankruptcy cases. It is a meeting in which a court official will verify debtors’ identities, verify the accuracy of forms, confirm tax statements and the status of various debts. The official will also ask what property the debtors intend to keep and how they will pay for it. The 341 meeting gets its name because it is called for in section 341 of the U.S. Bankruptcy Code. Also called a creditor’s meeting.