Hello, my name is Marcy. I would like to talk to you about the various ways bankruptcy attorneys help you eliminate debt. My attorney helped me find all of the creditors that I needed to pay back. I was astounded at the number of creditors listed on the bankruptcy. Fortunately, my bankruptcy attorney assured me that my case was completely normal and possible to discharge through the court process. I hope to use this site to reassure others about their debt situation. I will share information about bankruptcy attorney services in an effort to help others tackle this difficult problem.
If you are considering filing for bankruptcy, you may be anxious about your court appearance. In reality, there is no actual court appearance, but instead a more informal gathering called a creditor's meeting. Once your bankruptcy attorney has filed your chapter 7 bankruptcy petition, you will be scheduled for this meeting. There are 8 important facts about the creditor's meeting that will help you to be prepared and to relieve some of your fears, so read on.
1. This meeting, sometimes called a 341 meeting, gives the bankruptcy trustee an opportunity to question you about your financial situation. The trustee, who presides over the meeting, is sometimes also a judge, but not always.
2. This meeting will normally be held in a federal building, but not necessarily in a court room. Any large conference room could be used.
3. The creditor meeting can last several hours, but keep in mind that your part of the proceedings will likely last only few minutes. You will be in a room with many other people who are also involved in their own bankruptcy proceedings, and the creditor's meeting is open to the general public as well.
4. As the name suggests, this meeting presents an opportunity for creditors to attend and question you about your debt. It is rare for creditors to take an interest in these proceedings, unless you are reaffirming a debt. This means that you are agreeing to continue paying a particular debt in order to avoid losing an asset.
5. Sometimes an attorney or representative of an unsecured debt will attend the creditor's meeting to question you about recent use of a credit card. You and your attorney will be prepared for this questioning, where you will need to show that the charges on the card were necessary and not fraudulent. For example, you needed to have a vehicle repaired to get to work, or you purchased a washing machine to replace a non-working machine.
6. Make sure that you arrive at your creditor's meeting with photo identification and your Social Security card, along with your copies of the bankruptcy petition.
7. Don't be alarmed if your attorney doesn't sit with you during the proceedings. Attorneys often have several clients at the same meeting, and may only attend to you personally when your name is actually called to be questioned.
8. Cases are usually called in a alphabetical order by your last name, so stand or approach the trustee when called, according to local custom. You can expect to be asked questions like:
These meetings are normally more casual than court appearances, but can still cause some amount of stress and anxiety. Rely on your bankruptcy attorney to prepare you for this short and uneventful meeting, and get started on the road toward making a fresh financial future.
To learn more, contact a real estate attorney like Michael Adler.