The North Carolina Debtors Certification and Affidavit 341 Meeting is a meeting held between debtors and creditors to provide information and certification regarding a debtor's bankruptcy case. The debtor is required to attend the meeting and present proof of identity, answer questions regarding their filing, and provide a statement concerning their current financial status. The meeting is also referred to as the "341 meeting of creditors," or "meeting of creditors." This meeting is typically presided over by a trustee appointed by the court to oversee the debtor's case. There are two types of North Carolina Debtors Certification and Affidavit 341 Meeting: a voluntary meeting, where the debtor has agreed to be present, and an involuntary meeting, where the debtor has been ordered to attend by the court. At the meeting, creditors can ask the debtor questions about their financial affairs and the trustee can ask questions about the debtor's assets, debts, and expenses. The trustee will also provide certification of the debtor's case.
North Carolina Debtors Certification and Affidavit 341 Meeting
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FAQ
It is also referred to as a 341 meeting because it is mandated by Section 341 of the Bankruptcy Code. Creditors are not required to attend these meetings, and do not waive any rights if they do not attend.
If a debtor is a corporation or partnership, the debtor's attorney and a responsible officer of the business must attend the meeting. If a debtor does not attend the 341(a) Meeting, the bankruptcy case may be dismissed.
Failure to attend the Section 341 meeting without the prior agreement of the Chapter 13 Trustee or the Bankruptcy Administrator, as applicable, may result in the filing of a Motion to Dismiss the case by the Trustee or the Bankruptcy Administrator.
Now, in most consumer cases, creditors don't attend the 341 meeting, even though it's called the meeting of creditors. In probably 95, if not 98% of cases, no creditors actually attend. It's only going to be the trustee that will be asked some questions to verify your financial situation.
The 341 meeting may be continued if: You did not bring adequate proof of identify. The trustee needs more documentation from you to verify information your petition. A creditor needs more time to question you about your obligations.
Creditors usually do not show up for this meeting. Any of your testimony will be recorded and used against you if there is a dispute. Your answers must be brief and direct.