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What happens during a meeting of the creditors?

If you have filed for Chapter 7 bankruptcy in Washington, D.C., you know there are a number of steps that must be taken before your case can be resolved. One such step is the meeting of creditors. This idea of this meeting may be a source of anxiety for you, as it is for others who are seeking debt relief. In order to ensure you are prepared, it is important for you to understand what happens during a meeting of the creditors.

Within 21 to 40 days of filing your petition, a meeting of the creditors will be held, according to the U.S. Courts. This hearing is held by the bankruptcy trustee who is assigned to your case. Typically, such meetings take place in an office. You and your attorney will be seated on one side of a desk or table, while the trustee is seated on the other. In most cases, the meeting of the creditors is short and often lasts 15 minutes or less.

Like others, you may be concerned that the meeting is an opportunity for your creditors to grill you about your income and expenses. Your creditors are permitted to go to the hearing, however, it is uncommon for creditors to attend these meetings. More likely, you, your attorney and the trustee will be the only ones in attendance.

At the start of the meeting, the trustee will ask to see your Social Security card and your driver’s license. He or she will then swear you in. Once you are placed under oath, the trustee will ask you a serious of questions relating to the information you provided in your schedules, petition and other documents. For example, they may ask whether you reviewed the documents you provided with your attorney before signing them or if you know of any errors or omissions in the information you submitted. In some cases, the trustee may ask you to provide additional information or documentation that was not turned in previously.

This post has provided an overview of the meeting of creditors. However, you should keep in mind that each case is unique. Therefore, you should take this post only as general information and not as legal advice.

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