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"Texas Bankruptcy 341 Meeting"
In Texas bankruptcy, 341 meetings are conducted by the trustee in all
Chapter 7 and Chapter 13 cases. During these meetings, the trustee
places debtors under oath and may inquire about any irregularity
appearing within the documents and schedules filed with the Clerk.
Creditors are also permitted to ask debtors questions. One of the
primary benefits of Texas bankruptcy 341 meetings is to allow debtors to
discover what, if anything, parties in interest find objectionable.
| 11 U.S.C. §341: "(a) Within a reasonable time after the order for relief in a case under
this title, the United States trustee shall convene and preside at a meeting of creditors. (b) The United
States trustee may convene a meeting of any equity security holders. (c) The court may not preside at, and
may not attend, any meeting under this section including any final meeting of creditors." |
In Texas, legal definitions are derived from many sources, both federal and state: case law, statutes, rules of procedure, rules of evidence, and local practices. The application of law determines meaning, rather than common usage in ordinary conversations. For instance, a particular phrase used in a significant court decision may become popular, and is understood to include the rationale and requirements contained in the published opinion. For this reason, any debtor who may have questions about legal terminology should contact a qualified attorney for clarification. Most consumer specialists offer free consultations for anyone who is considering filing Chapter 7 or Chapter 13.
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