Nicolet Law Office, S.C.

The Meeting of Creditors

Preparing to file bankruptcy can seem to be an insurmountable task to accomplish. But once you've worked with your attorney to complete, sign and file the petition, you are presented with another hurdle to move past, the Meeting of Creditors. But don't let the name of this hearing deter you as this is a necessary and fairly short hearing.

The 341 Meeting

The U.S. Trustee assigned to your case will hold a meeting of your creditors, generally thirty days after your bankruptcy petition is filed. The trustee holds this meeting in order to talk to the debtor and make sure they understand (text below quoted from 11 U.S.C. §341):

  1. The potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
  2. The debtor's ability to file a petition under a different chapter of this title;
  3. The effect of receiving a discharge of debts under this title; and
  4. The effect of reaffirming a debt, including the debtor's knowledge of the provisions of section 524(d) of this title.

This also provides an opportunity for the debtor's creditors to appear and participate in the meeting. Although a creditor rarely appears and objects at the 341 meeting, many debtors can become stressed about this possibility.

At the 341 meeting, the trustee will also question the debtor as they search for undisclosed assets, explore potential claims against the bankruptcy estate, and determine whether the case should be closed and deemed a no-asset case or whether further investigation by the trustee is needed.

A properly completed petition may make you aware of potential issues, but at its conclusion, the debtor is one step closer to receiving their bankruptcy discharge. After filing your bankruptcy petition, talk to your attorney about the 341 meeting and what can be expected.

Awards & Recognition

Our peers and independent third-party organizations have recognized the hard work and dedication we put into every case. This has led to numerous awards and accolades.

  1. Rated By Super Lawyers | Russel D. Nicolet
    Super Lawyers Rising Stars
    Avvo Rating 10.0 Superb | Top Attorney Personal Injury Avvo Rating 10.0 Superb | Top Attorney Bankruptcy
  2. The American Association of Legal Advocates Wisconsin Association for Justice BBB Accredited Business - A+
  3. Minnesota State Bar Association American Bar Association State Bar of Wisconsin
  4. BV Distinguished | Lexis Nexis | Martindale-Hubbell | For Ethical Standards and Legal Ability The National Trial Lawyers Million Dollar Advocates Forum

Personal Attention To You -
Personal Dedication To Your Case

Contact us today for a free consultation where you will speak directly with one of our attorneys. We are conveniently located for your accessibility, with offices in Hudson, Eau Claire, and five other cities throughout the region. If your condition prevents you from coming to one of our offices, we will happily meet with you at your home or another location that is comfortable for you.

Call Us: 800-456-6956

  • In Wisconsin, call: 715-802-0872
  • In Minnesota, call: 651-243-2872

Tell Us About Your Case We’ll review your case details and contact you with an action plan.

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Wisconsin Offices

Hudson Office
511 2nd Street Suite 203
Hudson, WI 54016

Phone: 715-802-0872
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Rice Lake Office
337 N. Main Street
Rice Lake, WI 54868

Phone: 715-802-0872
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Eau Claire Office
402 Graham Ave, Suite 305
Eau Claire, WI 54701

Phone: 715-802-0872
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Superior Office
1200 Tower Ave.
Superior, WI 54880

Phone: 715-802-0872
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New Richmond Office
1500 Madison Ave., Suite 220
New Richmond, WI 54017

Phone: 715-802-0872
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Wausau Office
408 Third Street, Suite 303
Wausau, WI 54401

Phone: 715-802-0872
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Woodbury Office
724 Bielenberg Drive, Suite 126
Woodbury, MN 55125

Phone: 651-243-2872
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Duluth Office
109 North 2nd Avenue West
Duluth, MN 55802

Phone: 218-208-6502
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Howard Court Bldg.
302 Howard St. , Ste. 123
Hibbing, MN 55746

Phone: 218-208-6502
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