What happens at a 341 Meeting of Creditors in Connecticut?

One of the first things that happens in a bankruptcy case in Connecticut after the debtor has filed a petition, is a “Meeting of Creditors,” also know as a “341 Meeting” which refers to Section 341 of the Bankruptcy Code.

What happens at a 341 Meeting and what’s the experience like?

A 341 Meeting is a relatively informal meeting.  It’s usually just the trustee, you and your lawyer.  Any creditors are allowed and invited to attend.  But typically they do not attend.

It’s common for debtors to worry about this meeting.  Perhaps they imagine being grilled in a Perry Mason-like cross-examination about their debts and finances.  But the reality is that these meetings are often very routine and go quickly too.  The trustee just needs to ask some basic questions.  Roughly six cases are scheduled to occur every half-hour.  So you can imagine that the time spent on each case is rather short.

This doesn’t mean that you take a 341 Meeting for granted.  But if you have an experienced Connecticut bankruptcy lawyer who is familiar with the trustees and the process, then you really have nothing to worry about.  The key is just a matter of good preparation.  This means your lawyer has done his or her job by filing a complete and well-thought-out bankruptcy petition.   He has also discussed all the significant issues with you ahead of time.  That way there are no surprises.

That said, it’s still not uncommon for people to feel nervous when they actually go to the meeting.  A good tip is to arrive a little early.  (Fifteen minutes is a good time, but also remember to allow enough time to find that sometimes rare parking space.)  That way you get to see the trustee ask questions to other people before you.  And you’ll get a sense of what it’s like.  Seeing the process in person usually helps people relax.

If you’re thinking about bankruptcy in Connecticut, please contact me for a free initial consultation to get answers to all of your Connecticut bankruptcy questions.

Contact Attorney Melchionne

Eugene S. Melchionne, Esq.
27 First Ave.
Waterbury, CT 06710
(203) 757-3437

About Eugene Melchionne Attorney at Law

Eugene S. Melchionne, Esq. - Mr. Melchionne is a graduate of The University of Connecticut (B.A. 1977) and Drake University School of Law (J.D. 1980) where he received the American Jurisprudence Award for academic excellence.Since 1980, Mr. Melchionne has focused his practice in the areas of consumer bankruptcy, workouts and foreclosure defense in distressed real estate markets, real estate transactions, condominium law, commercial litigation, business organizations and probate. Prior to opening his office in 1990, Mr. Melchionne was associated with Grady & Riley in Waterbury, Connecticut and DiPietro, Kantrovitz & Brownstein, P.C. in New Haven, Connecticut. From 1990-1998, Mr. Melchionne was of counsel to Bender & Anderson handling that firm's complex litigation and trials. In addition to his practice, Mr. Melchionne was an adjunct professor at the American Institute of Banking and Teikyo Post University teaching bankruptcy, real estate, commercial and consumer law. Mr. Melchionne also advised the Corporation Counsel's office for the City of Waterbury on bankruptcy and foreclosure matters and mentored junior attorneys in that office. In 2005, Mr. Melchionne was appointed State Chair for the National Association of Consumer Bankruptcy Attorneys (NACBA). He acts as a liasion between the national organization and Connecticut attorneys who are members of the Association. He has fostered education of attorneys in the bankruptcy field and increased access of the public to bankruptcy relief in light of the law passed in 2005. In 2007, Mr. Melchionne was elected as Vice President of the Bankruptcy Law Network, an internet resource for consumer information on bankruptcy and now serves as its President. Bankruptcy Law Network has three sister sites, Credit Law Network, Debt Law Netowrk and Mortgage Law Network. Areas Of Practice: Consumer Bankruptcy Workouts & Foreclosure and Repossession Defense Real Estate Closings Honors: Super Lawyer Connecticut - 2007, 2008 Member of the Month - April 2006, National Association of Consumer Bankruptcy Attorneys American Institute of Banking Community Service - Ken Kovel Award, 2001 Teacher of the Year, American Institute of Banking, 1998 Pro Bono Representation of Indigent Clients, U.S. Bankruptcy Court, District of Connecticut, 1996 - 2002 American Jurisprudence Award 1978   Classes/Seminars Taught: Speaker - NACBA 2009 Convention, Chicago, IL Speaker - NACTT 2009 Convention, Boston MA Speaker - NACBA 2008 Workshop, Hilton Head, SC Speaker - NACBA 2008 Convention, Los Angeles, CA Speaker - NACBA 2007 Workshop, Las Vegas, NV Speaker - NACBA 2007 Convention, Philadelphia, PA Adjunct Professor - Bankruptcy, Real Estate, Consumer, and Commercial Law, American Institute of Banking and Teikyo Post University Past/Present Affiliations: National Association of Consumer Bankruptcy Attorneys American Bankruptcy Institute American Institute of Banking, Northwest Region Council City of Waterbury Corporation Counsel - Advisor, 1996 - 2000 Waterbury Bar Association - Chair, Committee on Bankruptcy -1998 Waterbury Credit Bureau, Inc. - Vice President, 1983 - 1985 American, Connecticut, and Waterbury Bar Associations Admitted: Connecticut, 1982 U.S. Federal Court, 1982 Education: Drake University Law School, Des Moines, IA, J.D. - 1980 University of Connecticut, Storrs, CT, B.A. - 1977 Past Positions: Bender & Anderson, Of Counsel, Hamden, Conn. DiPietro, Kantrovitz & Brownstein, P.C., New Haven, Conn. Grady & Riley, Waterbury, Conn.
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One Response to What happens at a 341 Meeting of Creditors in Connecticut?

  1. Pingback: Where do I go if I file for bankruptcy in Connecticut? | Consumer Bankruptcy Tips

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