341 meeting

Definition

In a bankruptcy case, a meeting of creditors or equity security holders convened by and presided over by the United States trustee. A meeting of creditors is mandatory whereas a meeting of equity security holders is discretionary. During a 341 meeting, the United States trustee must ask the debtor questions to ensure that he or she is aware of the consequences of discharging and reaffirming debts in bankruptcy. 

See also