What Happens If You File Bankruptcy?

What Happens if You File Bankruptcy?

Many of our clients ask us what happens if you file bankruptcy? This is a very important question, and several significant Bankruptcy Code provisions are triggered when filing bankruptcy. Learn more about the automatic stay, bankruptcy estate and the bankruptcy trustee.

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The 341 Meeting of Creditors

341 Meeting of Creditors

In every bankruptcy chapter, the person or authorized representative of a business must attend a 341 meeting of creditors that is required under 11 U.S.C. § 341(a). The 341 meeting is not a test. It is an opportunity for the case trustee to do their job and determine if there are any assets to distribute to creditors.

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