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Get Ready for the Meeting of Creditors

Get Ready for the Meeting of Creditors

Declaring bankruptcy puts many debtors on a path to financial stability by clearing your debt and rebuilding your credit. The Bankruptcy Code, however, is complicated and some people get discouraged because the process can be difficult to understand and time consuming. Some aspects of the process, like the meeting of the creditors, may be intimidating unless you make adequate preparations. As long as you are honest and accurate in dealing with the bankruptcy court, you should not experience any difficulties at the meeting of creditors. If you are not honest or accurate, you can face serious consequences, including being charged with a bankruptcy crime.

Section 341 of the Bankruptcy Code requires all debtors to personally attend a meeting of creditors and to submit to questioning under oath. The court-appointed trustee presides over the meeting. Usually the trustee schedules the meeting between 20 and 40 days after you file your bankruptcy petition. Creditors, although not required, may attend to also question the debtor under oath.

Bring Your Identification

You must bring a proof of your identity to the meeting – such as a state issued ID like your driver’s license or passport and your Social security card. You should also bring your pay stubs and bank statements from the last two months and your most recently filed state and federal tax returns.

Who will attend?

You and your attorney will appear along with the trustee assigned to your case. Judges do not attend and only an occasional creditor will show up.

Questions the trustee may ask

The trustee and any creditors who show up will conduct the examination. You will state your name, address and other basic information. After you confirm that you reviewed the Bankruptcy Petition and additional schedules that you filed and verified that the information provided in your documents is true. Other questions include, but are not limited to the following:

  • Are all your assets and debts listed?
  • If you filed bankruptcy before, when and under which chapter?
  • Explain any bank deposits or withdrawals over $1,000.
  • Did you provide the information that your attorney included in your petition?
  • Has any information changed in your petition?
  • Have you given away or sold any property recently?
  • Does anyone owe you money?

The meeting is usually brief, only lasting 5-7 minutes. Discuss your bankruptcy needs with experienced Dayton bankruptcy attorneys. We provide compassionate and competent legal advice to our clients.



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